T2 Corporate Income Statistics - Universe Data
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Table 4: Industry 03 - Mining, 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 | 1417 | 1430 | 1381 | 1376 | 1344 | |
| Net income or loss for income tax purposes | 300 | 1241.5 | 884.7 | 1255.5 | 1789.9 | 2299.8 |
| Section 110.5 additions and/or subparagraph 115(1)(a)(vii) additions | 355 | 0 | 0 | 0 | 0 | 0 |
| Less | ||||||
| Charitable donations and gifts | 311, 312, 313, 314 | 8.1 | 6.5 | 12.1 | 7.7 | 26 |
| Taxable dividends deductible under section 112, 113, 138(6) | 320 | 341.4 | 459 | 525.8 | 1197.4 | 969.2 |
| Losses from previous years | 331, 332, 333, 334, 335 | 413.1 | 366.6 | 204.2 | 484 | 300.7 |
| Other deductions | 325, 340, 350 | 45 | 46.5 | 47.6 | 67.7 | 10.8 |
| Losses carried back | LCB | 92.2 | 83.1 | 8.6 | 3.7 | 0.6 |
| Subtotal | 899.8 | 961.7 | 798.3 | 1760.5 | 1307.3 | |
| Taxable income* | 360 | 860.4 | 533.3 | 974.2 | 575.8 | 1478.9 |
| All exempt income (including taxable income of NPO) | 370, Other exempt income** | 0.7 | 0.9 | 1.5 | 0 | 0 |
| Adjusted taxable income | 360 - All exempt income | 859.7 | 532.4 | 972.7 | 575.8 | 1478.9 |
| Base amount of Part I tax | 550 | 326.7 | 202.3 | 369.6 | 218.8 | 562 |
| Corporate surtax | 600 | 9.6 | 6 | 10.9 | 6.4 | 16.6 |
| Refundable tax on CCPC's investment income*** | 602, 604 | 0.4 | 0.3 | 0.4 | 0.3 | 2.9 |
| Subtotal | 336.7 | 208.5 | 380.9 | 225.6 | 581.5 | |
| Less credits from part I tax payable | ||||||
| Small business deduction | 430 | 4.9 | 4.7 | 4.9 | 5.5 | 6.7 |
| Federal tax abatement | 608 | 85.9 | 53.2 | 97.2 | 57.6 | 147.8 |
| Manufacturing and processing deduction | 616 | 2.7 | 2.5 | 2.5 | 3.3 | 2.9 |
| General tax reduction | 438, 637, 638, 639 | 0 | 1 | 1.7 | 7.8 | 29.8 |
| Investment tax credits | 652 + CB (other losses carried back) | 43.7 | 7 | 10.2 | 6.7 | 41.6 |
| Other credits | 620, 628, 632, 636, 640, 644, 648 | 2.9 | 1.5 | 1.8 | 1.2 | 2 |
| Subtotal | 140 | 69.8 | 118.4 | 82.1 | 230.8 | |
| Part I tax payable | 700 | 196.6 | 138.8 | 262.5 | 143.5 | 350.7 |
| Part I.3 tax payable | 704 | 34.4 | 39 | 35.9 | 38 | 25.4 |
| Other federal taxes payable (OFTP) | 708, 712, 716, 720, 727, 728 | 22.4 | 22.5 | 22.7 | 23.5 | 3.9 |
| Total federal tax | 700 - PartI.3 tax payable - OFTP | 253.4 | 200.3 | 321.1 | 205 | 379.9 |
| All other credits (AOC) | 780, 784, 788, 792, 796, 797, 804, 816 | 8.6 | 3.8 | 2.9 | 2.3 | 9.6 |
| Net federal tax | Total federal tax - AOC | 244.8 | 196.5 | 318.2 | 202.7 | 370.4 |
* 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