Table 51-2
Broadcasting, motion pictures, sound recording and information services — Reconciliation of net profit to taxable income and taxes payable

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Broadcasting, motion pictures, sound recording and information services — 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 402 1,090 1,175 1,380 1,459
Plus: consolidation and conceptual adjustments 596 206 143 637 -450
Plus: current taxes, including mining 367 385 387 394 333
Plus: deferred income taxes 91 -11 -9 4 12
Less: profit of tax exempt corporations -5 6 7 4 1
Deductible dividends 738 822 749 850 1,189
Adjusted profit before taxes 724 843 940 1,561 164
Exemptions and deductions:  
Book capital gains and losses 58 108 101 150 -1,033
Less: taxable capital gains 54 31 53 68 118
Net difference, capital gains and losses 3 78 48 82 -1,151
Resource allowance .. .. .. .. ..
Less: royalties .. .. .. .. ..
Net difference, resource allowance .. .. .. .. ..
Earned depletion allowance .. .. .. .. ..
Other exemptions and deductions -48 -201 -197 26 26
Total, exemptions and deductions -44 -123 -148 108 -1,125
Timing differences:  
Depreciation 1,071 1,066 1,036 1,042 1,263
Less: capital cost allowance 1,269 1,259 1,258 1,332 1,519
Net difference, depreciation -198 -193 -222 -289 -255
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) -2 -1 -4 -1 0
Other timing differences 1,099 1,012 1,027 950 1,097
Total, timing differences 899 817 801 660 842
Net taxable income 1,667 1,783 1,889 2,113 2,132
Less: prior year losses applied 322 226 262 335 378
Taxable income (tax base) 1,345 1,557 1,627 1,777 1,754
Taxes:  
Tax otherwise payable 507 585 610 668 661
Surtax 0 0 0 0 0
Less: Federal tax credits and deductions:  
Federal tax abatement 133 153 160 175 173
Small business deduction 50 55 62 64 76
Manufacturing and processing profits deduction 1 2 3 2 1
Investment tax credit 5 5 8 11 9
Other credits 92 118 135 178 167
Net part 1 tax payable 225 252 242 239 235
Other direct federal taxes 5 11 6 4 5
Federal tax payable 230 263 248 242 240
Provincial tax payable 160 175 166 180 173
Total taxes 390 438 414 422 413
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