Table 30-2
Air, rail and ship products and other transportation equipment manufacturing — Reconciliation of net profit to taxable income and taxes payable

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Air, rail and ship products and other transportation equipment 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 193 1,510 2,574 2,318 1,220
Plus: consolidation and conceptual adjustments -668 126 -1,672 2 -92
Plus: current taxes, including mining 260 127 199 314 265
Plus: deferred income taxes 10 103 56 1 -2
Less: profit of tax exempt corporations 0 0 0 0 0
Deductible dividends 827 500 516 652 705
Adjusted profit before taxes -1,032 1,366 642 1,983 686
Exemptions and deductions:  
Book capital gains and losses -31 177 208 265 107
Less: taxable capital gains 31 244 256 142 106
Net difference, capital gains and losses -62 -66 -48 123 1
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 -169 -153 -194 -130 -47
Total, exemptions and deductions -230 -219 -243 -7 -46
Timing differences:  
Depreciation 719 708 705 670 694
Less: capital cost allowance 637 488 480 544 591
Net difference, depreciation 82 220 225 126 103
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) 0 2 -2 0 0
Other timing differences 1,326 -565 233 -719 590
Total, timing differences 1,408 -344 456 -592 693
Net taxable income 607 1,242 1,341 1,399 1,426
Less: prior year losses applied 84 386 287 135 100
Taxable income (tax base) 524 856 1,054 1,264 1,326
Taxes:  
Tax otherwise payable 199 325 400 485 505
Surtax 0 0 0 0 0
Less: Federal tax credits and deductions:  
Federal tax abatement 52 85 105 126 132
Small business deduction 6 6 7 7 8
Manufacturing and processing profits deduction 28 62 82 94 94
Investment tax credit 16 30 35 74 79
Other credits 17 47 59 55 73
Net part 1 tax payable 80 94 112 129 119
Other direct federal taxes 9 21 10 10 10
Federal tax payable 88 115 122 140 129
Provincial tax payable 68 89 108 130 141
Total taxes 157 205 231 269 270
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