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.
  2010 2011 2012 2013 2014
  millions of dollars
Net profit 1,090 1,175 1,380 172 1,250
Plus: consolidation and conceptual adjustments 206 143 637 659 6,299
Plus: current taxes, including mining 385 387 394 320 329
Plus: deferred income taxes -11 -9 4 17 -8
Less: profit of tax exempt corporations 6 7 4 0 17
Deductible dividends 822 749 850 1,190 6,869
Adjusted profit before taxes 843 940 1,561 -23 985
Exemptions and deductions:  
Book capital gains and losses 108 101 150 -1,007 202
Less: taxable capital gains 31 53 68 115 106
Net difference, capital gains and losses 78 48 82 -1,121 96
Resource allowance .. .. .. .. ..
Less: royalties .. .. .. .. ..
Net difference, resource allowance .. .. .. .. ..
Earned depletion allowance .. .. .. .. ..
Other exemptions and deductions -201 -197 26 25 -26
Total, exemptions and deductions -123 -148 108 -1,096 69
Timing differences:  
Depreciation 1,066 1,036 1,042 1,310 1,331
Less: capital cost allowance 1,259 1,258 1,332 1,531 1,474
Net difference, depreciation -193 -222 -289 -222 -143
Natural resources expenses, (books) 0 0 0 0 0
Less: natural resource expenses, (tax) 0 0 0 0 1
Net difference, natural resources expenses 0 0 0 0 0
Charitable donations net difference, (books minus tax) -1 -4 -1 0 -1
Other timing differences 1,012 1,027 950 1,250 1,381
Total, timing differences 817 801 660 1,029 1,236
Net taxable income 1,783 1,889 2,113 2,102 2,152
Less: prior year losses applied 226 262 335 366 321
Taxable income (tax base) 1,557 1,627 1,777 1,736 1,831
Taxes:  
Tax otherwise payable 585 610 668 655 687
Surtax 0 0 0 0 0
Less: Federal tax credits and deductions:  
Federal tax abatement 153 160 175 171 178
Small business deduction 55 62 64 74 81
Manufacturing and processing profits deduction 2 3 2 1 1
Investment tax credit 5 8 11 9 11
Other credits 118 135 178 168 173
Net part 1 tax payable 252 242 239 232 243
Other direct federal taxes 11 6 4 3 5
Federal tax payable 263 248 242 236 248
Provincial tax payable 175 166 180 173 174
Total taxes 438 414 422 408 423
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