Common menu bar links

Page content follows

Table 46-2
Miscellaneous retailers — 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	995	1,397	1,706	1,888	2,029
Plus: consolidation and conceptual adjustments	-217	-168	134	-120	-39
Plus: current taxes, including mining	305	454	565	610	529
Plus: deferred income taxes	7	15	1	8	4
Less: profit of tax exempt corporations	1	365	-3	2	0
Deductible dividends	59	47	481	258	407
Adjusted profit before taxes	1,030	1,285	1,928	2,126	2,116
Exemptions and deductions:
Book capital gains and losses	80	115	151	207	218
Less: taxable capital gains	24	39	42	42	40
Net difference, capital gains and losses	57	76	109	165	178
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	16	-362	10	16	-12
Total, exemptions and deductions	73	-286	119	181	166
Timing differences:
Depreciation	469	575	631	651	733
Less: capital cost allowance	448	569	633	656	737
Net difference, depreciation	21	6	-2	-5	-4
Natural resources expenses, (books)	0	0	0	0	0
Less: natural resource expenses, (tax)	0	0	0	1	1
Net difference, natural resources expenses	0	0	0	0	-1
Charitable donations net difference, (books minus tax)	0	1	0	0	1
Other timing differences	83	-25	-220	-65	-36
Total, timing differences	104	-18	-223	-70	-40
Net taxable income	1,061	1,554	1,587	1,875	1,910
Plus: current year tax losses	366	303	309	329	346
Current year positive taxable income	1,427	1,857	1,895	2,204	2,256
Less: prior year losses applied	105	107	94	107	105
Taxable income (tax base)	1,322	1,750	1,802	2,097	2,151
Taxes:
Tax otherwise payable	517	674	698	806	831
Surtax	14	19	20	22	3
Less: Federal tax credits and deductions:
Federal tax abatement	135	176	183	211	218
Small business deduction	121	129	140	170	189
Manufacturing and processing profits deduction	2	0	0	0	0
Investment tax credit	0	1	1	1	1
Other credits	34	64	64	70	83
Net part 1 tax payable	239	324	331	376	342
Other direct federal taxes	6	5	6	7	10
Federal tax payable	245	328	336	383	352
Provincial tax payable	103	167	166	187	164
Total taxes	348	496	503	570	516

Common menu bar links

Table 46-2Miscellaneous retailers — Reconciliation of profit

Archived Content

Table 46-2
Miscellaneous retailers — Reconciliation of profit