Table 16-2
Printing and related support activities — Reconciliation of net profit to taxable income and taxes payable

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Printing and related support activities — Reconciliation of net profit to taxable income and taxes payable
  2007 2008 2009 2010 2011
  millions of dollars
Net profit 223 -398 -70 386 433
Plus: consolidation and conceptual adjustments 261 286 384 -180 -343
Plus: current taxes, including mining 40 77 75 77 103
Plus: deferred income taxes -6 -8 -30 1 24
Less: profit of tax exempt corporations 0 0 0 0 0
Deductible dividends 298 243 4,726 311 109
Adjusted profit before taxes 220 -285 -4,368 -27 108
Exemptions and deductions:  
Book capital gains and losses -20 127 -2 17 -30
Less: taxable capital gains 19 12 15 7 10
Net difference, capital gains and losses -39 115 -18 10 -40
Resource allowance 0 0 0 0 0
Less: royalties .. .. .. .. ..
Net difference, resource allowance 0 0 0 0 0
Earned depletion allowance .. .. .. .. ..
Other exemptions and deductions -70 -108 -164 -93 -108
Total, exemptions and deductions -109 7 -182 -83 -149
Timing differences:  
Depreciation 431 429 413 438 377
Less: capital cost allowance 406 419 435 415 389
Net difference, depreciation 25 11 -22 23 -12
Natural resources expenses, (books) 0 0 0 0 0
Less: natural resource expenses, (tax) 0 0 0 0 0
Net difference, natural resources expenses 0 0 0 0 0
Charitable donations net difference, (books minus tax) 4 1 1 0 -1
Other timing differences 231 783 4,612 447 250
Total, timing differences 260 795 4,591 470 238
Net taxable income 589 502 405 526 494
Less: prior year losses applied 62 69 56 85 49
Taxable income (tax base) 527 433 349 441 446
Taxes:  
Tax otherwise payable 208 166 133 168 170
Surtax 6 1 0 0 0
Less: Federal tax credits and deductions:  
Federal tax abatement 54 44 35 44 44
Small business deduction 28 28 23 24 26
Manufacturing and processing profits deduction 7 8 11 15 17
Investment tax credit 4 5 5 4 5
Other credits 19 16 9 15 18
Net part 1 tax payable 101 67 49 66 60
Other direct federal taxes 4 0 1 5 5
Federal tax payable 105 67 50 72 65
Provincial tax payable 47 39 37 44 41
Total taxes 153 107 87 116 106
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