Table 50-2
Publishing industries (except Internet) — Reconciliation of net profit to taxable income and taxes payable

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Publishing industries (except Internet) — 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 813 3,007 -1,818 -1,265 557
Plus: consolidation and conceptual adjustments 2,218 905 1,741 249 1,140
Plus: current taxes, including mining 277 358 317 248 288
Plus: deferred income taxes 32 137 211 84 -18
Less: profit of tax exempt corporations 9 4 0 1 1
Deductible dividends 2,050 2,738 1,996 1,876 1,374
Adjusted profit before taxes 1,281 1,664 -1,545 -2,560 592
Exemptions and deductions:  
Book capital gains and losses -24 -75 -231 -415 109
Less: taxable capital gains 82 131 114 204 59
Net difference, capital gains and losses -106 -207 -346 -619 50
Resource allowance .. .. .. .. ..
Less: royalties .. .. .. .. ..
Net difference, resource allowance .. .. .. .. ..
Earned depletion allowance .. .. .. .. ..
Other exemptions and deductions -186 -73 -35 760 887
Total, exemptions and deductions -292 -280 -381 141 937
Timing differences:  
Depreciation 1,059 910 668 755 667
Less: capital cost allowance 1,357 1,188 595 486 623
Net difference, depreciation -298 -279 73 268 44
Natural resources expenses, (books) 1 1 0 0 0
Less: natural resource expenses, (tax) 1 0 0 0 1
Net difference, natural resources expenses 0 1 0 0 -1
Charitable donations net difference, (books minus tax) 0 0 0 1 3
Other timing differences 286 550 3,093 4,679 2,220
Total, timing differences -12 272 3,166 4,949 2,267
Net taxable income 1,561 2,216 2,001 2,248 1,922
Less: prior year losses applied 561 439 345 532 298
Taxable income (tax base) 1,000 1,777 1,656 1,716 1,624
Taxes:  
Tax otherwise payable 375 671 627 650 616
Surtax 0 0 0 0 0
Less: Federal tax credits and deductions:  
Federal tax abatement 99 176 164 170 161
Small business deduction 26 30 32 34 36
Manufacturing and processing profits deduction 5 14 13 18 16
Investment tax credit 38 42 34 37 52
Other credits 70 142 145 160 168
Net part 1 tax payable 137 268 239 230 183
Other direct federal taxes 14 18 7 2 3
Federal tax payable 152 286 246 233 186
Provincial tax payable 115 196 170 175 164
Total taxes 266 482 415 408 350
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