Common menu bar links

Page content follows

Table 26-2
Computer and electronic product manufacturing — Reconciliation of profit

Archived Content

Information identified as archived is provided for reference, research or recordkeeping purposes. It is not subject to the Government of Canada Web Standards and has not been altered or updated since it was archived. Please "contact us" to request a format other than those available.

PDF | Symbols | Next

Reconciliation of profit
	2004	2005	2006	2007	2008
	millions of dollars
Reconciliation of profit to taxable income and taxes payable
Net profit	996	1,686	2,035	1,941	2,806
Plus: consolidation and conceptual adjustments	-1,271	406	-482	1,024	-605
Plus: current taxes, including mining	549	289	522	562	907
Plus: deferred income taxes	1	216	263	139	-18
Less: profit of tax exempt corporations	0	0	385	0	0
Deductible dividends	503	1,234	647	795	394
Adjusted profit before taxes	-227	1,364	1,305	2,872	2,696
Exemptions and deductions:
Book capital gains and losses	171	64	130	107	154
Less: taxable capital gains	33	140	157	52	105
Net difference, capital gains and losses	137	-76	-26	55	50
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	-80	-25	-479	-52	-217
Total, exemptions and deductions	58	-101	-505	3	-167
Timing differences:
Depreciation	1,266	1,164	968	966	1,020
Less: capital cost allowance	909	1,148	1,245	1,135	1,248
Net difference, depreciation	357	16	-277	-169	-227
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	-1	-1	-1
Other timing differences	753	-1,108	661	-404	746
Total, timing differences	1,112	-1,091	383	-573	517
Net taxable income	828	374	2,193	2,296	3,380
Plus: current year tax losses	1,039	1,167	744	638	586
Current year positive taxable income	1,866	1,541	2,936	2,935	3,966
Less: prior year losses applied	83	245	352	301	408
Taxable income (tax base)	1,783	1,296	2,585	2,633	3,558
Taxes:
Tax otherwise payable	704	507	986	1,006	1,374
Surtax	21	15	29	29	1
Less: Federal tax credits and deductions:
Federal tax abatement	185	133	259	264	361
Small business deduction	16	18	19	20	23
Manufacturing and processing profits deduction	60	35	85	70	165
Investment tax credit	216	168	387	277	253
Other credits	62	54	92	112	103
Net part 1 tax payable	186	113	173	292	472
Other direct federal taxes	29	29	1	1	0
Federal tax payable	215	142	174	293	472
Provincial tax payable	200	140	288	293	452
Total taxes	416	282	462	586	923

Common menu bar links

Table 26-2Computer and electronic product manufacturing — Reconciliation of profit

Archived Content

Table 26-2
Computer and electronic product manufacturing — Reconciliation of profit