Table 30-2
Air, rail and ship products and other transportation equipment manufacturing — Reconciliation of net profit to taxable income and taxes payable

Warning View the most recent version.

Archived Content

Information identified as archived is provided for reference, research or recordkeeping purposes. It is not subject to the Government of Canada Web Standards and has not been altered or updated since it was archived. Please "contact us" to request a format other than those available.

Archived

This page has been archived on the Web.

PDF Symbols  Next table  Previous table

Air, rail and ship products and other transportation equipment manufacturing — Reconciliation of net profit to taxable income and taxes payable
  2007 2008 2009 2010 2011
  millions of dollars
Net profit 832 128 193 1,510 2,486
Plus: consolidation and conceptual adjustments 44 -16 -668 126 -1,672
Plus: current taxes, including mining 434 435 260 127 197
Plus: deferred income taxes -77 -115 10 103 50
Less: profit of tax exempt corporations 0 0 0 0 0
Deductible dividends 458 360 827 500 517
Adjusted profit before taxes 775 71 -1,032 1,366 545
Exemptions and deductions:  
Book capital gains and losses 353 346 -31 177 151
Less: taxable capital gains 107 63 31 244 231
Net difference, capital gains and losses 246 283 -62 -66 -80
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 -170 -107 -169 -153 -190
Total, exemptions and deductions 76 176 -230 -219 -270
Timing differences:  
Depreciation 771 857 719 708 700
Less: capital cost allowance 528 384 637 488 465
Net difference, depreciation 242 473 82 220 236
Natural resources expenses, (books) 0 2 0 0 0
Less: natural resource expenses, (tax) 0 0 0 0 0
Net difference, natural resources expenses 0 2 0 0 0
Charitable donations net difference, (books minus tax) 0 0 0 2 1
Other timing differences -68 1,027 1,326 -565 267
Total, timing differences 174 1,502 1,408 -344 505
Net taxable income 873 1,397 607 1,242 1,320
Less: prior year losses applied 99 85 84 386 276
Taxable income (tax base) 774 1,312 524 856 1,044
Taxes:  
Tax otherwise payable 295 499 199 325 397
Surtax 9 0 0 0 0
Less: Federal tax credits and deductions:  
Federal tax abatement 77 131 52 85 104
Small business deduction 6 6 6 6 7
Manufacturing and processing profits deduction 31 82 28 62 85
Investment tax credit 20 16 16 30 34
Other credits 23 27 17 47 54
Net part 1 tax payable 146 238 80 94 112
Other direct federal taxes 13 15 9 21 22
Federal tax payable 159 253 88 115 134
Provincial tax payable 79 149 68 89 107
Total taxes 237 401 157 205 242
Date modified: