T2 Corporate Income Statistics - Universe Data
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Table 12: Industry 11 - Deposit Accepting, T2 (Form 200) Corporation Income Tax Statistics (amounts in millions of dollars)
| Tax Item | T2 Line number(s) | 2000 | 2001 | 2002 | 2003 | 2004 |
|---|---|---|---|---|---|---|
| Number of tax filers | 2514 | 2313 | 2108 | 1975 | 1565 | |
| Net income or loss for income tax purposes | 300 | 11966.8 | 8744.4 | 11946 | 26073.8 | 18570.6 |
| Section 110.5 additions and/or subparagraph 115(1)(a)(vii) additions | 355 | 4.7 | 163.5 | 0.2 | 0 | 0 |
| Less | ||||||
| Charitable donations and gifts | 311, 312, 313, 314 | 126.5 | 28.4 | 154.8 | 90.7 | 123 |
| Taxable dividends deductible under section 112, 113, 138(6) | 320 | 3893.6 | 5049.3 | 4093.4 | 5965.9 | 4159.2 |
| Losses from previous years | 331, 332, 333, 334, 335 | 292.3 | 330.3 | 1270.3 | 262.6 | 203 |
| Other deductions | 325, 340, 350 | 231.2 | 454.9 | 268.8 | 451.8 | 156.7 |
| Losses carried back | LCB | 511.1 | 153.5 | 205.6 | 2074.1 | 2.9 |
| Subtotal | 5054.7 | 6016.4 | 5992.9 | 8845.1 | 4644.7 | |
| Taxable income* | 360 | 7727.6 | 5066.9 | 6121.9 | 17546.3 | 14162.2 |
| All exempt income (including taxable income of NPO) | 370, Other exempt income** | 0.1 | 0.1 | 0.2 | 0.1 | 0 |
| Adjusted taxable income | 360 - All exempt income | 7727.5 | 5066.7 | 6121.7 | 17546.2 | 14162.2 |
| Base amount of Part I tax | 550 | 2936.5 | 1925.4 | 2326.2 | 6667.5 | 5381.6 |
| Corporate surtax | 600 | 86.5 | 56.7 | 68.5 | 196.1 | 158.6 |
| Refundable tax on CCPC's investment income*** | 602, 604 | 0 | 0 | 0 | 0 | 0 |
| Subtotal | 3023 | 1982.1 | 2394.8 | 6863.7 | 5540.3 | |
| Less credits from part I tax payable | ||||||
| Small business deduction | 430 | 29.8 | 31.9 | 31.8 | 31 | 25.7 |
| Federal tax abatement | 608 | 663.3 | 486.1 | 545 | 1479 | 1229.2 |
| Manufacturing and processing deduction | 616 | 0 | 0 | 0 | 0 | 0 |
| General tax reduction | 438, 637, 638, 639 | 0 | 39 | 148.9 | 790.3 | 903.3 |
| Investment tax credits | 652 + CB (other losses carried back) | 12 | -11.4 | 6.1 | 17.6 | 12.5 |
| Other credits | 620, 628, 632, 636, 640, 644, 648 | 526.3 | 335.3 | 237.3 | 342.9 | 372.3 |
| Subtotal | 1231.4 | 880.8 | 969 | 2660.8 | 2543.1 | |
| Part I tax payable | 700 | 1791.6 | 1101.2 | 1425.8 | 4202.9 | 2997.2 |
| Part I.3 tax payable | 704 | 47 | 67.3 | 75.9 | 32.1 | 20.7 |
| Other federal taxes payable (OFTP) | 708, 712, 716, 720, 727, 728 | 164.4 | 204 | 132.3 | 159.9 | 92.8 |
| Total federal tax | 700 - PartI.3 tax payable - OFTP | 2003 | 1372.6 | 1634 | 4394.8 | 3110.7 |
| All other credits (AOC) | 780, 784, 788, 792, 796, 797, 804, 816 | 5.6 | 1.8 | 1.7 | 10.1 | 0.1 |
| Net federal tax | Total federal tax - AOC | 1997.4 | 1370.8 | 1632.3 | 4384.7 | 3110.7 |
* When the amount in line 300, form 200 (_200_300), minus total deductions is less than zero for a given corporation, Taxable income is entered as zero.
** Other Exempt Income formula
if (_200_550 = 0 and _200_360 > 10) then Other_exempt_inc = _200_360 -_200_355 -_200_370
else Other_exempt_inc = 0
if Other_exempt_inc < 0 then Other_exempt_inc = 0
*** Includes Recapture of Investment Tax Credits
- Date modified:
- 2016-03-15