T2 Corporate Income Statistics - Universe Data
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Table 13: Industry 12 - Other Finance and Insurance, 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 | 216646 | 220223 | 222998 | 223599 | 220189 | |
| Net income or loss for income tax purposes | 300 | 54794.7 | 36930.7 | 34809.8 | 37349.3 | 51614.7 |
| Section 110.5 additions and/or subparagraph 115(1)(a)(vii) additions | 355 | 4.2 | 4.8 | 7.8 | 8.7 | 8.1 |
| Less | ||||||
| Charitable donations and gifts | 311, 312, 313, 314 | 447.5 | 988.2 | 437.7 | 306.1 | 544.1 |
| Taxable dividends deductible under section 112, 113, 138(6) | 320 | 29716.2 | 18540.7 | 19106.7 | 19950 | 18943.7 |
| Losses from previous years | 331, 332, 333, 334, 335 | 4584.1 | 4357.7 | 3865.4 | 3841.8 | 4434.2 |
| Other deductions | 325, 340, 350 | 455.9 | 306.9 | 445 | 489.4 | 610 |
| Losses carried back | LCB | 2454.8 | 1352.3 | 837.9 | 724.3 | 149.2 |
| Subtotal | 37658.5 | 25545.8 | 24692.6 | 25311.6 | 24681.1 | |
| Taxable income* | 360 | 24547.1 | 20979.8 | 21721.5 | 26395.7 | 33288 |
| All exempt income (including taxable income of NPO) | 370, Other exempt income** | 1654.3 | 1791.3 | 2406.9 | 3048.9 | 3648.7 |
| Adjusted taxable income | 360 - All exempt income | 22892.8 | 19188.5 | 19314.6 | 23346.8 | 29639.3 |
| Base amount of Part I tax | 550 | 8626 | 7231.6 | 7311.9 | 8859.4 | 11257.3 |
| Corporate surtax | 600 | 225.3 | 203.3 | 216.1 | 263.4 | 333.1 |
| Refundable tax on CCPC's investment income*** | 602, 604 | 349.8 | 322 | 271 | 273.5 | 331.1 |
| Subtotal | 9201.1 | 7756.9 | 7799 | 9396.3 | 11921.4 | |
| Less credits from part I tax payable | ||||||
| Small business deduction | 430 | 318.8 | 330.8 | 353.2 | 393.4 | 450.4 |
| Federal tax abatement | 608 | 2167.3 | 1796.6 | 1821.6 | 2165.6 | 2774.4 |
| Manufacturing and processing deduction | 616 | 18.4 | 22.7 | 24.5 | 24 | 18.9 |
| General tax reduction | 438, 637, 638, 639 | 0 | 95.8 | 353.4 | 784.6 | 1442.7 |
| Investment tax credits | 652 + CB (other losses carried back) | 17.3 | 13.3 | 19.3 | 32.4 | 17.1 |
| Other credits | 620, 628, 632, 636, 640, 644, 648 | 150.6 | 140.7 | 109 | 139.7 | 153.4 |
| Subtotal | 2672.4 | 2399.9 | 2681 | 3539.7 | 4857.1 | |
| Part I tax payable | 700 | 6528.7 | 5357 | 5117.9 | 5856.6 | 7064.3 |
| Part I.3 tax payable | 704 | 288.3 | 299 | 308.5 | 287.1 | 212.2 |
| Other federal taxes payable (OFTP) | 708, 712, 716, 720, 727, 728 | 917.7 | 1061.3 | 1064.5 | 903 | 1055.1 |
| Total federal tax | 700 - PartI.3 tax payable - OFTP | 7734.8 | 6717.2 | 6491 | 7046.7 | 8331.7 |
| All other credits (AOC) | 780, 784, 788, 792, 796, 797, 804, 816 | 2417.1 | 2451.1 | 1967.9 | 1787.2 | 2057.7 |
| Net federal tax | Total federal tax - AOC | 5317.7 | 4266.1 | 4523.2 | 5259.4 | 6273.9 |
* 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