Table 38-2
Computer, communications and other machinery and equipment wholesaler-distributors — Reconciliation of net profit to taxable income and taxes payable

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Computer, communications and other machinery and equipment wholesaler-distributors — Reconciliation of net profit to taxable income and taxes payable
  2007 2008 2009 2010 2011
  millions of dollars
Net profit 1,687 604 1,400 1,313 1,781
Plus: consolidation and conceptual adjustments -80 275 -102 624 -93
Plus: current taxes, including mining 620 589 556 683 601
Plus: deferred income taxes 22 -82 -131 -11 -12
Less: profit of tax exempt corporations -1 7 2 -2 -2
Deductible dividends 560 167 125 310 68
Adjusted profit before taxes 1,690 1,213 1,594 2,301 2,211
Exemptions and deductions:  
Book capital gains and losses 73 1 49 567 152
Less: taxable capital gains 24 75 63 24 120
Net difference, capital gains and losses 49 -74 -14 543 32
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 -69 -109 -92 -93 -122
Total, exemptions and deductions -21 -184 -106 451 -90
Timing differences:  
Depreciation 553 494 533 578 703
Less: capital cost allowance 587 675 694 784 676
Net difference, depreciation -34 -181 -162 -206 27
Natural resources expenses, (books) 7 0 1 0 0
Less: natural resource expenses, (tax) 2 0 0 0 0
Net difference, natural resources expenses 4 0 1 0 0
Charitable donations net difference, (books minus tax) 0 1 1 -1 -1
Other timing differences 682 975 664 949 926
Total, timing differences 652 796 505 742 952
Net taxable income 2,363 2,192 2,205 2,592 3,253
Less: prior year losses applied 123 141 219 254 157
Taxable income (tax base) 2,240 2,051 1,986 2,339 3,096
Taxes:  
Tax otherwise payable 853 781 754 889 1,176
Surtax 24 3 0 0 0
Less: Federal tax credits and deductions:  
Federal tax abatement 224 205 198 233 309
Small business deduction 72 78 78 84 91
Manufacturing and processing profits deduction 13 15 11 11 17
Investment tax credit 19 19 26 36 44
Other credits 112 114 124 173 270
Net part 1 tax payable 437 353 317 353 444
Other direct federal taxes 2 4 3 4 3
Federal tax payable 440 357 320 357 447
Provincial tax payable 243 224 231 255 320
Total taxes 683 581 552 612 768
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