Table 42-2
Building material and garden equipment and supplies dealers — 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This page has been archived on the Web.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

Building material and garden equipment and supplies dealers — Reconciliation of net profit to taxable income and taxes payable
  2007 2008 2009 2010 2011
  millions of dollars
Net profit 1,062 982 815 921 524
Plus: consolidation and conceptual adjustments -9 -153 -45 -128 0
Plus: current taxes, including mining 396 298 174 291 203
Plus: deferred income taxes 18 14 17 16 -15
Less: profit of tax exempt corporations 0 0 0 0 0
Deductible dividends 133 182 178 48 119
Adjusted profit before taxes 1,334 960 783 1,052 594
Exemptions and deductions:  
Book capital gains and losses 79 45 -60 93 95
Less: taxable capital gains 32 50 18 21 18
Net difference, capital gains and losses 47 -5 -78 73 76
Resource allowance .. .. .. .. ..
Less: royalties .. .. .. .. ..
Net difference, resource allowance .. .. .. .. ..
Earned depletion allowance .. .. .. .. ..
Other exemptions and deductions -39 -44 -44 -50 -27
Total, exemptions and deductions 8 -49 -122 23 50
Timing differences:  
Depreciation 421 482 525 571 521
Less: capital cost allowance 389 522 477 505 440
Net difference, depreciation 32 -41 48 66 80
Natural resources expenses, (books) 0 0 0 0 0
Less: natural resource expenses, (tax) .. .. .. .. ..
Net difference, natural resources expenses 0 0 0 0 0
Charitable donations net difference, (books minus tax) 0 0 0 0 0
Other timing differences 85 221 379 249 453
Total, timing differences 116 181 428 315 533
Net taxable income 1,442 1,190 1,333 1,344 1,077
Less: prior year losses applied 38 50 37 39 32
Taxable income (tax base) 1,404 1,140 1,296 1,305 1,045
Taxes:  
Tax otherwise payable 546 435 494 497 398
Surtax 16 1 0 0 0
Less: Federal tax credits and deductions:  
Federal tax abatement 143 114 130 130 104
Small business deduction 67 75 79 77 73
Manufacturing and processing profits deduction 1 1 1 1 1
Investment tax credit 1 1 1 1 1
Other credits 67 55 72 79 67
Net part 1 tax payable 282 190 211 209 151
Other direct federal taxes 3 4 2 3 4
Federal tax payable 284 194 213 211 156
Provincial tax payable 136 99 136 132 98
Total taxes 420 294 349 344 254
Date modified: