Table 38-2
Computer, communications and other machinery and equipment merchant wholesalers — Reconciliation of net profit to taxable income and taxes payable

Warning View the most recent version.

Archived Content

Information identified as archived is provided for reference, research or recordkeeping purposes. It is not subject to the Government of Canada Web Standards and has not been altered or updated since it was archived. Please "contact us" to request a format other than those available.

Archived

This page has been archived on the Web.

PDF Symbols  Next table  Previous table

Computer, communications and other machinery and equipment merchant wholesalers — 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 1,400 1,313 1,842 1,869 2,069
Plus: consolidation and conceptual adjustments -102 624 -100 140 2
Plus: current taxes, including mining 556 683 593 535 552
Plus: deferred income taxes -131 -11 -20 -179 18
Less: profit of tax exempt corporations 2 0 -2 0 1
Deductible dividends 125 310 73 274 399
Adjusted profit before taxes 1,594 2,299 2,244 2,091 2,242
Exemptions and deductions:  
Book capital gains and losses 49 567 204 98 353
Less: taxable capital gains 63 24 128 51 47
Net difference, capital gains and losses -14 543 77 48 306
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 -92 -95 -123 -121 -107
Total, exemptions and deductions -106 448 -46 -73 199
Timing differences:  
Depreciation 533 578 645 633 660
Less: capital cost allowance 694 784 677 673 653
Net difference, depreciation -162 -206 -31 -40 8
Natural resources expenses, (books) 1 0 0 0 0
Less: natural resource expenses, (tax) 0 0 0 0 0
Net difference, natural resources expenses 1 0 0 0 0
Charitable donations net difference, (books minus tax) 1 -1 -1 0 0
Other timing differences 664 949 985 871 741
Total, timing differences 505 742 952 831 749
Net taxable income 2,205 2,592 3,243 2,995 2,792
Less: prior year losses applied 219 254 141 188 177
Taxable income (tax base) 1,986 2,339 3,102 2,807 2,614
Taxes:  
Tax otherwise payable 754 889 1,178 1,067 993
Surtax 0 0 0 0 0
Less: Federal tax credits and deductions:  
Federal tax abatement 198 233 309 280 261
Small business deduction 78 84 91 89 91
Manufacturing and processing profits deduction 11 11 15 9 9
Investment tax credit 26 36 43 42 34
Other credits 124 173 274 281 260
Net part 1 tax payable 317 353 444 365 337
Other direct federal taxes 3 4 3 3 4
Federal tax payable 320 357 447 368 341
Provincial tax payable 231 255 320 281 260
Total taxes 552 612 767 648 601
Date modified: