T2 Corporate Income Statistics - Universe Data
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Table 3: Industry 02 - Oil and Gas, 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 | 12470 | 12884 | 13271 | 13366 | 13295 | |
| Net income or loss for income tax purposes | 300 | 18074.6 | 15658.3 | 10696.8 | 13053.8 | 20083.9 |
| Section 110.5 additions and/or subparagraph 115(1)(a)(vii) additions | 355 | 30.1 | 8 | 91.5 | 5.9 | 17.5 |
| Less | ||||||
| Charitable donations and gifts | 311, 312, 313, 314 | 56.1 | 56.5 | 39.9 | 66 | 62.9 |
| Taxable dividends deductible under section 112, 113, 138(6) | 320 | 10216.2 | 4941.1 | 3448.3 | 5066.1 | 7478.2 |
| Losses from previous years | 331, 332, 333, 334, 335 | 1640.7 | 2011.8 | 1612.5 | 2396 | 1689.5 |
| Other deductions | 325, 340, 350 | 59.5 | 27.8 | 23.6 | 0 | 0 |
| Losses carried back | LCB | 551.6 | 754.2 | 505 | 73.2 | 30.2 |
| Subtotal | 12524.3 | 7791.3 | 5629.3 | 7601.3 | 9260.8 | |
| Taxable income* | 360 | 7474.1 | 10255.8 | 8725.9 | 8095.5 | 12569.4 |
| All exempt income (including taxable income of NPO) | 370, Other exempt income** | 119.7 | 63.7 | 111.3 | 201 | 301.7 |
| Adjusted taxable income | 360 - All exempt income | 7354.4 | 10192.1 | 8614.6 | 7894.5 | 12267.6 |
| Base amount of Part I tax | 550 | 2794.5 | 3872.9 | 3270.1 | 2999.9 | 4661.7 |
| Corporate surtax | 600 | 82.3 | 114.1 | 96.2 | 88.4 | 137.4 |
| Refundable tax on CCPC's investment income*** | 602, 604 | 9.2 | 5.2 | 5.5 | 8.3 | 5.9 |
| Subtotal | 2886 | 3992.3 | 3371.8 | 3096.6 | 4805 | |
| Less credits from part I tax payable | ||||||
| Small business deduction | 430 | 40.9 | 50.6 | 45.3 | 54.2 | 67.9 |
| Federal tax abatement | 608 | 727.1 | 1009.6 | 845.7 | 762.5 | 1195 |
| Manufacturing and processing deduction | 616 | 112.5 | 79.7 | 83.2 | 74.2 | 90 |
| General tax reduction | 438, 637, 638, 639 | 0 | 14.6 | 42.4 | 131.4 | 343.9 |
| Investment tax credits | 652 + CB (other losses carried back) | 109 | 252.9 | 206.8 | 72.3 | 181.9 |
| Other credits | 620, 628, 632, 636, 640, 644, 648 | 37.1 | 17.9 | 66.4 | 86.2 | 104.4 |
| Subtotal | 1026.6 | 1425.3 | 1289.7 | 1180.8 | 1983.1 | |
| Part I tax payable | 700 | 1859.4 | 2567 | 2082.1 | 1915.8 | 2821.9 |
| Part I.3 tax payable | 704 | 189.9 | 201.5 | 250.6 | 287.4 | 195.8 |
| Other federal taxes payable (OFTP) | 708, 712, 716, 720, 727, 728 | 36.5 | 22.4 | 16.6 | 8.1 | 5.9 |
| Total federal tax | 700 - PartI.3 tax payable - OFTP | 2085.8 | 2790.9 | 2349.3 | 2211.2 | 3023.6 |
| All other credits (AOC) | 780, 784, 788, 792, 796, 797, 804, 816 | 82 | 138 | 99.8 | 56.9 | 31.7 |
| Net federal tax | Total federal tax - AOC | 2003.9 | 2652.9 | 2249.5 | 2154.4 | 2991.9 |
* 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