Table 40-2
Motor vehicle and parts dealers — 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This page has been archived on the Web.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

Motor vehicle and parts dealers — 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 1,388 1,616 1,638 1,720 1,680
Plus: consolidation and conceptual adjustments -135 -68 -34 -60 -30
Plus: current taxes, including mining 399 455 432 440 543
Plus: deferred income taxes -34 -22 1 5 25
Less: profit of tax exempt corporations 0 0 0 0 0
Deductible dividends 78 59 86 95 121
Adjusted profit before taxes 1,541 1,922 1,951 2,010 2,097
Exemptions and deductions:  
Book capital gains and losses 129 165 153 194 231
Less: taxable capital gains 49 48 39 49 56
Net difference, capital gains and losses 80 117 115 145 175
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 -61 -66 -66 -48 47
Total, exemptions and deductions 20 52 49 97 222
Timing differences:  
Depreciation 799 771 787 768 790
Less: capital cost allowance 1,032 990 876 855 918
Net difference, depreciation -233 -220 -89 -86 -128
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 0 1 1 0
Other timing differences 592 463 333 405 989
Total, timing differences 360 244 245 319 860
Net taxable income 1,881 2,114 2,147 2,232 2,735
Less: prior year losses applied 112 99 91 94 116
Taxable income (tax base) 1,769 2,015 2,055 2,138 2,619
Taxes:  
Tax otherwise payable 674 769 777 813 999
Surtax 0 0 0 0 0
Less: Federal tax credits and deductions:  
Federal tax abatement 177 201 204 213 262
Small business deduction 143 152 148 147 156
Manufacturing and processing profits deduction 0 0 0 0 0
Investment tax credit 4 4 3 5 5
Other credits 79 107 128 157 212
Net part 1 tax payable 271 305 294 291 364
Other direct federal taxes 5 4 12 3 7
Federal tax payable 276 309 306 294 371
Provincial tax payable 177 199 191 197 249
Total taxes 452 507 497 491 620
Date modified: