Table 26-2
Computer and electronic product manufacturing — Reconciliation of net profit to taxable income and taxes payable

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Computer and electronic product 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 3,801 3,474 3,562 369 -4,629
Plus: consolidation and conceptual adjustments -1,736 809 -826 -96 -898
Plus: current taxes, including mining 949 728 1,158 -643 -1,098
Plus: deferred income taxes -37 -93 79 145 -913
Less: profit of tax exempt corporations 1 0 1 1 1
Deductible dividends 387 76 107 74 1,288
Adjusted profit before taxes 2,590 4,841 3,866 -300 -8,827
Exemptions and deductions:  
Book capital gains and losses 192 85 56 137 76
Less: taxable capital gains 113 293 56 91 48
Net difference, capital gains and losses 79 -208 0 45 29
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 -223 -40 -49 -73 -78
Total, exemptions and deductions -145 -247 -49 -27 -49
Timing differences:  
Depreciation 948 538 1,082 2,096 1,468
Less: capital cost allowance 1,209 556 1,090 2,698 1,578
Net difference, depreciation -262 -19 -8 -602 -110
Natural resources expenses, (books) 1 1 0 0 0
Less: natural resource expenses, (tax) 0 0 0 0 0
Net difference, natural resources expenses 1 1 0 0 0
Charitable donations net difference, (books minus tax) 1 0 0 2 2
Other timing differences 1,333 -1,845 1,476 2,214 10,274
Total, timing differences 1,073 -1,863 1,467 1,614 10,165
Net taxable income 3,807 3,226 5,382 1,342 1,388
Less: prior year losses applied 268 385 164 177 141
Taxable income (tax base) 3,539 2,841 5,218 1,165 1,246
Taxes:  
Tax otherwise payable 1,345 1,080 1,982 442 473
Surtax 0 0 0 0 0
Less: Federal tax credits and deductions:  
Federal tax abatement 354 284 521 116 124
Small business deduction 22 22 24 24 25
Manufacturing and processing profits deduction 167 167 434 59 58
Investment tax credit 237 157 214 94 96
Other credits 104 53 101 74 88
Net part 1 tax payable 461 397 688 76 82
Other direct federal taxes 0 1 0 1 0
Federal tax payable 462 398 688 76 83
Provincial tax payable 445 338 519 98 105
Total taxes 907 735 1,207 175 187
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