Table 51-2
Broadcasting, motion pictures, sound recording and information services — Reconciliation of net profit to taxable income and taxes payable

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Broadcasting, motion pictures, sound recording and information services — Reconciliation of net profit to taxable income and taxes payable
  2007 2008 2009 2010 2011
  millions of dollars
Net profit 1,831 1,279 402 1,090 1,413
Plus: consolidation and conceptual adjustments -632 255 596 206 168
Plus: current taxes, including mining 368 485 367 385 432
Plus: deferred income taxes 23 -37 91 -11 2
Less: profit of tax exempt corporations 15 -1 -5 -2 4
Deductible dividends 512 786 738 822 749
Adjusted profit before taxes 1,063 1,198 724 851 1,260
Exemptions and deductions:  
Book capital gains and losses 212 791 58 108 95
Less: taxable capital gains 74 443 54 31 57
Net difference, capital gains and losses 138 348 3 78 38
Resource allowance .. .. .. .. ..
Less: royalties .. .. .. .. ..
Net difference, resource allowance .. .. .. .. ..
Earned depletion allowance .. .. .. .. ..
Other exemptions and deductions -35 -76 -48 -193 -231
Total, exemptions and deductions 103 272 -44 -115 -193
Timing differences:  
Depreciation 973 968 1,071 1,066 1,040
Less: capital cost allowance 1,352 955 1,269 1,259 1,278
Net difference, depreciation -379 14 -198 -193 -238
Natural resources expenses, (books) 5 0 0 0 0
Less: natural resource expenses, (tax) 1 0 0 0 0
Net difference, natural resources expenses 5 0 0 0 0
Charitable donations net difference, (books minus tax) -4 -10 -2 -1 -4
Other timing differences 916 1,347 1,099 1,012 846
Total, timing differences 537 1,350 899 817 604
Net taxable income 1,498 2,276 1,667 1,783 2,057
Less: prior year losses applied 251 362 322 226 258
Taxable income (tax base) 1,247 1,914 1,345 1,557 1,799
Taxes:  
Tax otherwise payable 497 757 507 585 676
Surtax 14 5 0 0 0
Less: Federal tax credits and deductions:  
Federal tax abatement 130 192 133 153 177
Small business deduction 45 49 50 55 62
Manufacturing and processing profits deduction 1 1 1 2 3
Investment tax credit 8 4 5 5 7
Other credits 71 101 92 118 155
Net part 1 tax payable 256 416 225 252 272
Other direct federal taxes 3 4 5 11 5
Federal tax payable 259 420 230 263 277
Provincial tax payable 142 224 160 175 188
Total taxes 401 645 390 438 465
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