Table 41-2
Furniture, home furnishings, electronics and appliance stores — 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This page has been archived on the Web.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

Furniture, home furnishings, electronics and appliance 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 350 753 797 684 585
Plus: consolidation and conceptual adjustments 80 55 -82 -146 219
Plus: current taxes, including mining 220 245 218 215 192
Plus: deferred income taxes 13 11 20 -39 -39
Less: profit of tax exempt corporations 1 1 0 0 -1
Deductible dividends 78 155 63 70 100
Adjusted profit before taxes 584 909 891 644 858
Exemptions and deductions:  
Book capital gains and losses 70 88 113 79 58
Less: taxable capital gains 17 27 42 38 29
Net difference, capital gains and losses 52 61 71 41 29
Resource allowance .. .. .. .. ..
Less: royalties .. .. .. .. ..
Net difference, resource allowance .. .. .. .. ..
Earned depletion allowance .. .. .. .. ..
Other exemptions and deductions -35 -33 -87 -36 -23
Total, exemptions and deductions 17 28 -16 4 6
Timing differences:  
Depreciation 376 368 374 389 406
Less: capital cost allowance 405 405 351 313 336
Net difference, depreciation -29 -37 23 76 70
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 0 0 0
Other timing differences 378 155 152 356 65
Total, timing differences 349 119 175 432 135
Net taxable income 916 1,000 1,082 1,071 986
Less: prior year losses applied 66 60 103 59 63
Taxable income (tax base) 849 940 979 1,012 923
Taxes:  
Tax otherwise payable 323 358 372 386 349
Surtax 0 0 0 0 0
Less: Federal tax credits and deductions:  
Federal tax abatement 85 93 97 101 91
Small business deduction 74 76 75 73 76
Manufacturing and processing profits deduction 0 0 0 0 0
Investment tax credit 1 1 1 1 1
Other credits 35 44 55 68 57
Net part 1 tax payable 129 143 144 143 124
Other direct federal taxes 2 2 3 3 2
Federal tax payable 131 145 147 145 126
Provincial tax payable 82 89 89 92 81
Total taxes 213 234 236 237 207
Date modified: