Table 52-2
Telecommunications — Reconciliation of net profit to taxable income and taxes payable

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Telecommunications — 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 4,911 6,229 6,620 6,818 6,202
Plus: consolidation and conceptual adjustments 4,274 8,313 1,848 3,006 7,976
Plus: current taxes, including mining 694 885 1,165 1,008 1,544
Plus: deferred income taxes 720 956 982 1,092 687
Less: profit of tax exempt corporations 133 161 150 114 93
Deductible dividends 5,507 12,145 8,610 9,109 7,739
Adjusted profit before taxes 4,960 4,076 1,855 2,701 8,577
Exemptions and deductions:  
Book capital gains and losses 206 -330 -68 -453 135
Less: taxable capital gains 20 97 44 254 140
Net difference, capital gains and losses 186 -428 -112 -708 -5
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 -96 494 1,562 7,641 7,411
Total, exemptions and deductions 91 66 1,450 6,933 7,406
Timing differences:  
Depreciation 4,928 3,816 3,822 4,065 4,208
Less: capital cost allowance 5,053 3,810 4,408 4,011 4,356
Net difference, depreciation -126 6 -585 54 -148
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) -1 -13 -15 -24 -1
Other timing differences 314 550 4,233 11,005 7,660
Total, timing differences 187 543 3,632 11,035 7,511
Net taxable income 5,057 4,553 4,037 6,803 8,682
Less: prior year losses applied 2,521 2,215 1,065 1,213 651
Taxable income (tax base) 2,536 2,338 2,972 5,590 8,031
Taxes:  
Tax otherwise payable 957 879 1,121 2,115 3,020
Surtax 0 0 0 0 0
Less: Federal tax credits and deductions:  
Federal tax abatement 252 231 295 556 794
Small business deduction 12 13 14 15 17
Manufacturing and processing profits deduction 0 0 0 0 0
Investment tax credit 177 196 174 265 182
Other credits 220 222 306 691 1,018
Net part 1 tax payable 297 217 332 587 1,009
Other direct federal taxes 45 32 51 56 64
Federal tax payable 341 250 383 643 1,073
Provincial tax payable 311 252 320 519 773
Total taxes 652 502 702 1,162 1,847
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