Table 16-2
Printing and related support activities — Reconciliation of net profit to taxable income and taxes payable

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Printing and related support activities — Reconciliation of net profit to taxable income and taxes payable
Table summary
This table displays the results of the reconciliation of net profit to taxable income and taxes payable. The row headers provide information on the different accounts involved in the estimation of taxable income and taxes payable. The column headers provide a yearly breakdown for the five years covered in this tabulation. The values are reported in millions of dollars.
  2009 2010 2011 2012 2013
  millions of dollars
Net profit -70 386 448 156 342
Plus: consolidation and conceptual adjustments 384 -180 -301 635 1,055
Plus: current taxes, including mining 75 77 103 69 78
Plus: deferred income taxes -30 1 34 13 41
Less: profit of tax exempt corporations 0 0 0 0 0
Deductible dividends 4,726 311 251 337 399
Adjusted profit before taxes -4,368 -27 33 537 1,118
Exemptions and deductions:  
Book capital gains and losses -2 17 -33 27 25
Less: taxable capital gains 15 7 10 30 24
Net difference, capital gains and losses -18 10 -43 -2 1
Resource allowance 0 0 0 0 0
Less: royalties .. .. .. .. ..
Net difference, resource allowance 0 0 0 0 0
Earned depletion allowance .. .. .. .. ..
Other exemptions and deductions -164 -93 -109 56 136
Total, exemptions and deductions -182 -83 -153 54 136
Timing differences:  
Depreciation 413 438 384 370 381
Less: capital cost allowance 435 415 416 299 336
Net difference, depreciation -22 23 -32 71 45
Natural resources expenses, (books) 0 0 0 0 0
Less: natural resource expenses, (tax) 0 0 0 0 0
Net difference, natural resources expenses 0 0 0 0 0
Charitable donations net difference, (books minus tax) 1 0 -1 0 -1
Other timing differences 4,612 447 353 9 -280
Total, timing differences 4,591 470 320 80 -236
Net taxable income 405 526 506 563 745
Less: prior year losses applied 56 85 50 166 329
Taxable income (tax base) 349 441 456 398 415
Taxes:  
Tax otherwise payable 133 168 172 151 158
Surtax 0 0 0 0 0
Less: Federal tax credits and deductions:  
Federal tax abatement 35 44 45 40 41
Small business deduction 23 24 26 25 27
Manufacturing and processing profits deduction 11 15 18 17 19
Investment tax credit 5 4 5 4 6
Other credits 9 15 18 16 16
Net part 1 tax payable 49 66 61 49 49
Other direct federal taxes 1 5 5 3 3
Federal tax payable 50 72 66 52 52
Provincial tax payable 37 44 42 36 37
Total taxes 87 116 107 88 89
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