Table 43-2
Food and beverage stores — Reconciliation of net profit to taxable income and taxes payable

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Food and beverage stores — 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 8,248 8,498 7,127 7,432 7,144
Plus: consolidation and conceptual adjustments 2,142 435 1,879 447 2,159
Plus: current taxes, including mining 697 661 626 682 1,305
Plus: deferred income taxes -45 55 69 15 -71
Less: profit of tax exempt corporations 6,244 6,405 4,806 4,940 4,761
Deductible dividends 2,752 599 3,386 1,585 1,398
Adjusted profit before taxes 2,045 2,646 1,508 2,050 4,378
Exemptions and deductions:  
Book capital gains and losses 105 67 125 453 3,371
Less: taxable capital gains 132 53 125 81 555
Net difference, capital gains and losses -27 14 0 372 2,816
Resource allowance .. .. .. .. ..
Less: royalties 0 0 0 0 0
Net difference, resource allowance 0 0 0 0 0
Earned depletion allowance .. .. .. .. ..
Other exemptions and deductions -257 4 -597 -2,624 -3,106
Total, exemptions and deductions -284 18 -597 -2,252 -290
Timing differences:  
Depreciation 1,551 1,608 1,739 1,830 1,832
Less: capital cost allowance 1,674 1,772 1,719 1,567 1,165
Net difference, depreciation -123 -163 21 263 667
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) -8 6 6 4 6
Other timing differences 264 282 653 -1,496 288
Total, timing differences 133 125 680 -1,229 960
Net taxable income 2,463 2,753 2,785 3,073 5,628
Less: prior year losses applied 161 295 283 230 123
Taxable income (tax base) 2,302 2,457 2,502 2,844 5,506
Taxes:  
Tax otherwise payable 875 935 951 1,081 2,093
Surtax 0 0 0 0 0
Less: Federal tax credits and deductions:  
Federal tax abatement 229 245 249 284 550
Small business deduction 94 97 98 101 105
Manufacturing and processing profits deduction 1 1 1 1 1
Investment tax credit 3 1 1 1 1
Other credits 149 181 206 277 626
Net part 1 tax payable 399 411 395 417 811
Other direct federal taxes 21 34 27 37 46
Federal tax payable 419 444 422 454 857
Provincial tax payable 251 261 255 287 576
Total taxes 670 705 678 741 1,433
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