Table 66-2
Administrative and support, waste management and remediation services — Reconciliation of net profit to taxable income and taxes payable

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Administrative and support, waste management and remediation 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 3,483 5,187 5,545 5,274 5,443
Plus: consolidation and conceptual adjustments 79 252 431 687 61
Plus: current taxes, including mining 893 1,018 1,099 1,201 1,028
Plus: deferred income taxes -28 -41 34 51 -50
Less: profit of tax exempt corporations 12 66 67 28 106
Deductible dividends 1,252 2,059 2,105 2,938 2,215
Adjusted profit before taxes 3,163 4,292 4,937 4,246 4,161
Exemptions and deductions:  
Book capital gains and losses 213 587 814 631 522
Less: taxable capital gains 161 237 370 266 287
Net difference, capital gains and losses 52 351 444 365 235
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 .. .. .. .. ..
Other exemptions and deductions -160 -167 -256 60 22
Total, exemptions and deductions -108 184 188 425 257
Timing differences:  
Depreciation 2,065 1,949 2,085 2,130 2,290
Less: capital cost allowance 1,953 1,896 1,843 1,981 2,100
Net difference, depreciation 112 53 242 149 190
Natural resources expenses, (books) 29 29 28 42 42
Less: natural resource expenses, (tax) 39 23 34 30 32
Net difference, natural resources expenses -10 6 -6 12 10
Charitable donations net difference, (books minus tax) -1 0 3 3 2
Other timing differences 1,365 1,218 1,135 2,610 2,346
Total, timing differences 1,467 1,278 1,374 2,774 2,547
Net taxable income 4,738 5,387 6,123 6,595 6,452
Less: prior year losses applied 427 396 542 630 514
Taxable income (tax base) 4,311 4,990 5,581 5,965 5,938
Taxes:  
Tax otherwise payable 1,618 1,875 2,079 2,199 2,231
Surtax 0 0 0 0 0
Less: Federal tax credits and deductions:  
Federal tax abatement 422 488 539 571 581
Small business deduction 329 349 379 393 433
Manufacturing and processing profits deduction 11 7 3 3 3
Investment tax credit 12 10 10 15 12
Other credits 180 254 337 409 390
Net part 1 tax payable 664 768 811 808 813
Other direct federal taxes 52 58 58 64 71
Federal tax payable 716 826 869 872 884
Provincial tax payable 443 497 529 558 552
Total taxes 1,158 1,323 1,398 1,430 1,436
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