Table 44-2
Gasoline stations — Reconciliation of net profit to taxable income and taxes payable

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Gasoline stations — 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 413 372 588 588 736
Plus: consolidation and conceptual adjustments -62 -18 -87 29 -30
Plus: current taxes, including mining 59 56 96 128 144
Plus: deferred income taxes 1 7 0 -3 8
Less: profit of tax exempt corporations -1 2 3 1 5
Deductible dividends 12 12 10 14 12
Adjusted profit before taxes 399 402 585 728 839
Exemptions and deductions:  
Book capital gains and losses 48 36 71 79 68
Less: taxable capital gains 15 13 19 19 24
Net difference, capital gains and losses 33 24 52 60 44
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 0 0 0 0 0
Other exemptions and deductions 63 106 175 174 189
Total, exemptions and deductions 96 130 228 234 233
Timing differences:  
Depreciation 194 207 270 282 302
Less: capital cost allowance 180 197 263 243 311
Net difference, depreciation 15 10 7 39 -9
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 36 60 106 132 92
Total, timing differences 50 70 113 171 83
Net taxable income 354 342 471 665 689
Less: prior year losses applied 33 23 24 23 29
Taxable income (tax base) 321 320 447 641 661
Taxes:  
Tax otherwise payable 122 122 169 244 251
Surtax 0 0 0 0 0
Less: Federal tax credits and deductions:  
Federal tax abatement 32 32 44 64 66
Small business deduction 36 34 36 38 41
Manufacturing and processing profits deduction 0 0 0 0 0
Investment tax credit 0 0 0 0 0
Other credits 8 10 24 51 51
Net part 1 tax payable 46 46 64 91 93
Other direct federal taxes 1 0 1 2 2
Federal tax payable 46 46 65 93 95
Provincial tax payable 28 28 40 60 62
Total taxes 75 74 105 153 156
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