Table 26-2
Computer and electronic product manufacturing — Reconciliation of net profit to taxable income and taxes payable

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Computer and electronic product manufacturing — Reconciliation of net profit to taxable income and taxes payable
  2007 2008 2009 2010 2011
  millions of dollars
Net profit 1,941 2,808 3,801 3,474 3,565
Plus: consolidation and conceptual adjustments 1,024 -605 -1,736 809 -828
Plus: current taxes, including mining 562 908 949 728 1,159
Plus: deferred income taxes 139 -18 -37 -93 75
Less: profit of tax exempt corporations 0 0 1 0 1
Deductible dividends 795 394 387 76 107
Adjusted profit before taxes 2,872 2,700 2,590 4,841 3,865
Exemptions and deductions:  
Book capital gains and losses 107 154 192 85 60
Less: taxable capital gains 52 105 113 293 65
Net difference, capital gains and losses 55 50 79 -208 -5
Resource allowance 0 0 0 0 0
Less: royalties 0 0 0 0 0
Net difference, resource allowance 0 0 0 0 0
Earned depletion allowance .. .. .. .. ..
Other exemptions and deductions -52 -217 -223 -40 -50
Total, exemptions and deductions 3 -167 -145 -247 -55
Timing differences:  
Depreciation 966 1,020 948 538 1,082
Less: capital cost allowance 1,135 1,248 1,209 556 1,089
Net difference, depreciation -169 -227 -262 -19 -7
Natural resources expenses, (books) 0 0 1 1 0
Less: natural resource expenses, (tax) 0 0 0 0 0
Net difference, natural resources expenses 0 0 1 1 0
Charitable donations net difference, (books minus tax) -1 -1 1 0 0
Other timing differences 235 1,385 1,333 -1,845 1,463
Total, timing differences 66 1,157 1,073 -1,863 1,456
Net taxable income 2,935 4,024 3,807 3,226 5,376
Less: prior year losses applied 301 408 268 385 169
Taxable income (tax base) 2,633 3,615 3,539 2,841 5,207
Taxes:  
Tax otherwise payable 1,006 1,376 1,345 1,080 1,979
Surtax 29 1 0 0 0
Less: Federal tax credits and deductions:  
Federal tax abatement 264 361 354 284 520
Small business deduction 20 23 22 22 24
Manufacturing and processing profits deduction 70 165 167 167 433
Investment tax credit 277 254 237 157 210
Other credits 112 103 104 53 101
Net part 1 tax payable 292 472 461 397 690
Other direct federal taxes 1 0 0 1 0
Federal tax payable 293 472 462 398 691
Provincial tax payable 293 452 445 338 519
Total taxes 586 924 907 735 1,210
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