Table 66-2
Administrative and support, waste management and remediation services — Reconciliation of net profit to taxable income and taxes payable

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Administrative and support, waste management and remediation services — Reconciliation of net profit to taxable income and taxes payable
  2007 2008 2009 2010 2011
  millions of dollars
Net profit 3,585 3,342 3,483 5,187 5,804
Plus: consolidation and conceptual adjustments 51 -515 79 252 133
Plus: current taxes, including mining 1,074 1,027 893 1,018 1,096
Plus: deferred income taxes 52 -123 -28 -41 30
Less: profit of tax exempt corporations 49 112 23 70 71
Deductible dividends 1,189 1,455 1,252 2,059 2,131
Adjusted profit before taxes 3,524 2,164 3,152 4,288 4,860
Exemptions and deductions:  
Book capital gains and losses 931 553 213 587 829
Less: taxable capital gains 376 281 161 237 370
Net difference, capital gains and losses 555 272 52 351 459
Resource allowance 4 0 0 0 0
Less: royalties 4 0 0 0 0
Net difference, resource allowance 0 0 0 0 0
Earned depletion allowance .. .. .. .. ..
Other exemptions and deductions -108 -242 -171 -172 -409
Total, exemptions and deductions 446 30 -119 179 50
Timing differences:  
Depreciation 1,709 1,960 2,065 1,949 2,055
Less: capital cost allowance 1,711 1,755 1,953 1,896 1,863
Net difference, depreciation -2 205 112 53 193
Natural resources expenses, (books) 24 9 29 29 28
Less: natural resource expenses, (tax) 27 27 39 23 36
Net difference, natural resources expenses -3 -18 -10 6 -8
Charitable donations net difference, (books minus tax) -2 2 -1 0 2
Other timing differences 1,518 2,718 1,365 1,218 1,124
Total, timing differences 1,512 2,906 1,467 1,278 1,311
Net taxable income 4,589 5,040 4,738 5,387 6,121
Less: prior year losses applied 386 391 427 396 569
Taxable income (tax base) 4,203 4,649 4,311 4,990 5,552
Taxes:  
Tax otherwise payable 1,626 1,786 1,618 1,875 2,076
Surtax 45 6 0 0 0
Less: Federal tax credits and deductions:  
Federal tax abatement 421 463 422 488 538
Small business deduction 291 330 329 349 381
Manufacturing and processing profits deduction 2 2 11 7 4
Investment tax credit 11 9 12 10 10
Other credits 152 207 180 254 332
Net part 1 tax payable 794 781 664 768 811
Other direct federal taxes 63 73 52 58 53
Federal tax payable 856 854 716 826 864
Provincial tax payable 376 430 443 497 526
Total taxes 1,233 1,284 1,158 1,323 1,390
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