Table 5-2
Agriculture, fishing, hunting, trapping and support activities — Reconciliation of net profit to taxable income and taxes payable

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Reconciliation of net profit to taxable income and taxes payable


Table summary
This table displays the results of reconciliation of net profit to taxable income and taxes payable 2006,  2007, 2008, 2009 and  2010, calculated using millions of dollars units of measure (appearing as column headers).
  2006  2007 2008 2009  2010
  millions of dollars
Net profit 2,586 3,570 4,794 3,020 4,617
Plus: consolidation and conceptual
adjustments		 -5 38 -12 -20 -46
Plus: current taxes, including
mining		 421 520 578 567 559
Plus: deferred income taxes 53 71 49 -38 47
Less: profit of tax exempt corporations -3 0 4 -51 -3
Deductible dividends 232 212 258 323 331
Adjusted profit before taxes 2,825 3,986 5,147 3,256 4,850
Exemptions and deductions:  
Book capital gains and losses 1,221 1,477 1,465 1,375 1,397
Less: taxable capital gains 326 425 420 312 348
Net difference, capital gains
and losses		 895 1,052 1,046 1,063 1,050
Resource allowance 1 0 0 0 0
Less: royalties 0 0 0 0 0
Net difference, resource allowance 0 0 0 0 0
Earned depletion allowance Note ..: not available for a specific reference period Note ..: not available for a specific reference period Note ..: not available for a specific reference period Note ..: not available for a specific reference period Note ..: not available for a specific reference period
Other exemptions and deductions -53 -69 -35 -39 -47
Total, exemptions and deductions 842 983 1,011 1,024 1,003
Timing differences:  
Depreciation 2,390 2,504 2,655 2,840 3,000
Less: capital cost allowance 2,238 2,366 2,507 2,771 2,937
Net difference, depreciation 152 137 148 69 63
Natural resources expenses, (books) 1 1 1 0 0
Less: natural resource expenses,
(tax)		 4 3 3 2 1
Net difference, natural resources
expenses		 -4 -2 -2 -1 -1
Charitable donations net difference,
(books minus tax)		 3 2 -4 -25 -5
Other timing differences 455 -8 -513 1,584 -29
Total, timing differences 607 128 -370 1,627 29
Net taxable income 2,590 3,132 3,766 3,860 3,876
Less: prior year losses applied 390 362 419 400 416
Taxable income (tax base) 2,200 2,770 3,347 3,460 3,459
Taxes:  
Tax otherwise payable 852 1,073 1,296 1,325 1,328
Surtax 23 29 5 0 0
Less: Federal tax credits
and deductions:		  
Federal tax abatement 220 277 335 344 345
Small business deduction 267 333 435 458 453
Manufacturing and processing
profits deduction		 2 3 4 5 4
Investment tax credit 16 22 17 19 18
Other credits 19 24 28 39 47
Net part 1 tax payable 351 443 483 460 461
Other direct federal taxes 14 18 22 30 36
Federal tax payable 365 461 505 491 497
Provincial tax payable 145 178 198 268 258
Total taxes 510 639 704 759 755
.. not available for a specific reference period
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