Statistics Canada
www.statcan.gc.ca
Common menu bar links
Table 39-2
Miscellaneous wholesaler-distributors — 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.
| 2004 | 2005 | 2006 | 2007 | 2008 | |
|---|---|---|---|---|---|
| millions of dollars | |||||
| Reconciliation of profit to taxable income and taxes payable | |||||
| Net profit | 3,855 | 3,545 | 4,245 | 3,828 | 3,707 |
| Plus: consolidation and conceptual adjustments | -333 | 111 | -241 | -82 | -885 |
| Plus: current taxes, including mining | 1,476 | 1,484 | 1,688 | 1,802 | 1,581 |
| Plus: deferred income taxes | -24 | 5 | -18 | -60 | 51 |
| Less: profit of tax exempt corporations | 15 | 19 | 8 | -2 | 3 |
| Deductible dividends | 643 | 1,565 | 695 | 704 | 623 |
| Adjusted profit before taxes | 4,315 | 3,560 | 4,971 | 4,786 | 3,828 |
| Exemptions and deductions: | |||||
| Book capital gains and losses | 119 | 163 | 279 | 303 | 350 |
| Less: taxable capital gains | 109 | 92 | 174 | 125 | 131 |
| Net difference, capital gains and losses | 9 | 72 | 105 | 178 | 219 |
| Resource allowance | 0 | 1 | 2 | 0 | 0 |
| Less: royalties | 0 | 1 | 1 | 0 | 0 |
| Net difference, resource allowance | 0 | 1 | 1 | 0 | 0 |
| Earned depletion allowance | .. | .. | .. | .. | .. |
| Other exemptions and deductions | -243 | -171 | -162 | -216 | -1,452 |
| Total, exemptions and deductions | -234 | -98 | -56 | -38 | -1,233 |
| Timing differences: | |||||
| Depreciation | 1,220 | 1,221 | 1,223 | 1,351 | 1,412 |
| Less: capital cost allowance | 1,162 | 1,149 | 1,140 | 1,256 | 1,364 |
| Net difference, depreciation | 58 | 72 | 83 | 95 | 48 |
| Natural resources expenses, (books) | 1 | 2 | 5 | 7 | 3 |
| Less: natural resource expenses, (tax) | 3 | 4 | 4 | 4 | 7 |
| Net difference, natural resources expenses | -2 | -2 | 0 | 3 | -4 |
| Charitable donations net difference, (books minus tax) | -64 | -64 | 2 | -1 | -1 |
| Other timing differences | 321 | 1,023 | -6 | 7 | -7 |
| Total, timing differences | 313 | 1,029 | 80 | 104 | 36 |
| Net taxable income | 4,862 | 4,687 | 5,107 | 4,928 | 5,097 |
| Plus: current year tax losses | 789 | 883 | 858 | 991 | 1,298 |
| Current year positive taxable income | 5,651 | 5,570 | 5,965 | 5,918 | 6,395 |
| Less: prior year losses applied | 415 | 421 | 331 | 315 | 325 |
| Taxable income (tax base) | 5,236 | 5,149 | 5,634 | 5,603 | 6,070 |
| Taxes: | |||||
| Tax otherwise payable | 2,011 | 1,975 | 2,152 | 2,141 | 2,316 |
| Surtax | 58 | 57 | 62 | 61 | 7 |
| Less: Federal tax credits and deductions: | |||||
| Federal tax abatement | 513 | 511 | 564 | 561 | 606 |
| Small business deduction | 167 | 179 | 189 | 209 | 219 |
| Manufacturing and processing profits deduction | 27 | 22 | 21 | 18 | 24 |
| Investment tax credit | 94 | 103 | 98 | 89 | 98 |
| Other credits | 313 | 306 | 293 | 284 | 372 |
| Net part 1 tax payable | 955 | 911 | 1,050 | 1,041 | 1,004 |
| Other direct federal taxes | 14 | 9 | 7 | 9 | 10 |
| Federal tax payable | 970 | 921 | 1,057 | 1,049 | 1,014 |
| Provincial tax payable | 497 | 542 | 602 | 583 | 603 |
| Total taxes | 1,467 | 1,463 | 1,658 | 1,632 | 1,617 |
