Table 67-2
Educational, healthcare and social assistance services — Reconciliation of net profit to taxable income and taxes payable

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Educational, healthcare and social assistance services — Reconciliation of net profit to taxable income and taxes payable
  2007 2008 2009 2010 2011
  millions of dollars
Net profit 4,757 5,708 5,778 7,308 8,683
Plus: consolidation and conceptual adjustments 412 -156 4 -613 -246
Plus: current taxes, including mining 1,018 1,052 1,241 1,428 1,595
Plus: deferred income taxes -33 7 5 13 0
Less: profit of tax exempt corporations 99 80 39 169 150
Deductible dividends 860 348 406 455 490
Adjusted profit before taxes 5,195 6,183 6,582 7,513 9,392
Exemptions and deductions:  
Book capital gains and losses 620 238 -622 -392 420
Less: taxable capital gains 281 246 97 131 179
Net difference, capital gains and losses 339 -7 -719 -523 241
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 -84 -146 -112 -218 -224
Total, exemptions and deductions 255 -153 -831 -741 17
Timing differences:  
Depreciation 925 967 1,028 1,133 1,194
Less: capital cost allowance 779 843 965 1,043 1,036
Net difference, depreciation 147 123 63 89 157
Natural resources expenses, (books) 3 3 3 0 1
Less: natural resource expenses, (tax) 4 4 2 2 3
Net difference, natural resources expenses -1 -1 1 -2 -2
Charitable donations net difference, (books minus tax) 2 2 1 2 -1
Other timing differences 730 514 448 688 738
Total, timing differences 877 638 513 777 892
Net taxable income 5,817 6,974 7,926 9,031 10,267
Less: prior year losses applied 217 208 217 249 272
Taxable income (tax base) 5,599 6,765 7,710 8,782 9,994
Taxes:  
Tax otherwise payable 2,153 2,590 2,909 3,317 3,778
Surtax 60 12 0 0 0
Less: Federal tax credits and deductions:  
Federal tax abatement 560 675 762 869 990
Small business deduction 764 971 1,152 1,307 1,440
Manufacturing and processing profits deduction 1 4 2 2 7
Investment tax credit 8 18 11 8 17
Other credits 35 54 61 79 128
Net part 1 tax payable 844 880 922 1,052 1,196
Other direct federal taxes 19 24 28 34 50
Federal tax payable 863 904 950 1,086 1,247
Provincial tax payable 318 388 525 586 644
Total taxes 1,182 1,293 1,474 1,672 1,891
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