Table 19-2
Resin, synthetic rubber, and artificial and synthetic fibres and filaments manufacturing — Reconciliation of net profit to taxable income and taxes payable

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Resin, synthetic rubber, and artificial and synthetic fibres and filaments manufacturing — 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 26 799 804 -56 604
Plus: consolidation and conceptual adjustments 398 77 252 387 551
Plus: current taxes, including mining 114 222 215 136 303
Plus: deferred income taxes -23 -46 -4 -53 20
Less: profit of tax exempt corporations .. .. .. .. ..
Deductible dividends 196 347 539 385 322
Adjusted profit before taxes 318 704 728 29 1,156
Exemptions and deductions:  
Book capital gains and losses 41 -47 25 -281 -5
Less: taxable capital gains 18 15 13 2 1
Net difference, capital gains and losses 23 -62 12 -283 -7
Resource allowance .. .. .. .. ..
Less: royalties .. .. .. .. ..
Net difference, resource allowance .. .. .. .. ..
Earned depletion allowance .. .. .. .. ..
Other exemptions and deductions -66 103 -29 -100 1
Total, exemptions and deductions -43 42 -17 -384 -6
Timing differences:  
Depreciation 138 110 305 298 304
Less: capital cost allowance 166 88 176 133 181
Net difference, depreciation -28 23 129 165 123
Natural resources expenses, (books) .. .. .. .. ..
Less: natural resource expenses, (tax) .. .. .. .. ..
Net difference, natural resources expenses .. .. .. .. ..
Charitable donations net difference, (books minus tax) -1 0 0 0 0
Other timing differences 203 -4 -16 38 -399
Total, timing differences 174 19 112 203 -277
Net taxable income 535 681 857 616 885
Less: prior year losses applied 57 25 72 38 18
Taxable income (tax base) 478 656 786 577 867
Taxes:  
Tax otherwise payable 182 249 299 219 330
Surtax 0 0 0 0 0
Less: Federal tax credits and deductions:  
Federal tax abatement 48 65 78 57 87
Small business deduction 1 2 2 1 1
Manufacturing and processing profits deduction 40 59 80 68 105
Investment tax credit 1 1 6 4 3
Other credits 3 7 9 5 7
Net part 1 tax payable 89 116 124 83 127
Other direct federal taxes 0 0 0 0 36
Federal tax payable 89 116 124 83 163
Provincial tax payable 51 69 79 58 88
Total taxes 140 185 203 141 251
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