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)
| 2002 | 2003 | 2004 | 2005 | 2006 | ||
|---|---|---|---|---|---|---|
| Number of taxfilers | 2135 | 2008 | 1611 | 1502 | 1412 | |
| Tax item | T2 line number(s) | |||||
| Net income or loss for income tax purposes (excluding exempt income) | 300 minus exempt income | 11636.6 | 25912.5 | 18048.4 | 13127.2 | 19029.5 |
| Section 110.5 additions or subparagraph 115(1)(a)(vii) additions | 355 | 0 | 0 | 0 | 9.8 | 0 |
| Less | ||||||
| Charitable donations and gifts | 311, 312, 313, 314 | 154.8 | 84.4 | 90.5 | 80.4 | 128.3 |
| Taxable dividends deductible under section 112, 113, 138(6) | 320 | 3944.9 | 5736.1 | 4023.2 | 5024.2 | 8391.2 |
| Losses from previous years | 331, 332, 333, 334, 335 | 1304.4 | 591.7 | 198.9 | 83 | 223.3 |
| Other deductions | 325, 340, 350 | 256 | 317.7 | 156.7 | 484.2 | 243.3 |
| Losses carried back | LCB | 135.2 | 2149.4 | 423.2 | 1148.6 | 2079.4 |
| Subtotal | 5795.4 | 8879.3 | 4892.5 | 6820.3 | 11065.5 | |
| Taxable income (excluding exempt income)* | 360 minus exempt income | 6093.5 | 17363.6 | 13369.7 | 8521.4 | 8131.8 |
| Base amount of Part I tax | 550 | 2315.5 | 6598.2 | 5080.5 | 3238.1 | 3090.1 |
| Corporate surtax | 600 | 68.2 | 194.1 | 149.7 | 95.4 | 91.1 |
| Refundable tax on CCPC's investment income** | 602, 604 | 0 | 0 | 0 | 0 | 0 |
| Subtotal | 2383.8 | 6792.3 | 5230.2 | 3333.6 | 3181.2 | |
| Less credits from Part I tax payable | ||||||
| Small business deduction | 430 | 31.8 | 30.8 | 25.3 | 26.3 | 25.3 |
| Federal tax abatement | 608 | 541.4 | 1442.4 | 1150.8 | 767.4 | 744.8 |
| General tax reduction | 616, 438, 637, 638, 639 | 147.9 | 779.2 | 850.6 | 548.7 | 512 |
| Investment tax credits | 652, other carrybacks | 5.7 | 38.5 | 17.1 | 15.2 | 21.4 |
| Other credits | 620, 628, 632, 636, 640, 644, 648 | 230.6 | 359.3 | 356.4 | 401.6 | 463 |
| Subtotal | 957.4 | 2650.2 | 2400.1 | 1759.2 | 1766.4 | |
| Part I tax payable | 700 | 1426.3 | 4142.1 | 2830.1 | 1574.4 | 1414.8 |
| Part I.3 tax payable | 704 | 73.1 | 30.1 | 22.9 | 44.8 | 3.6 |
| Other federal taxes payable (OFTP) | 708, 712, 716, 720, 724, 727, 728 | 117.6 | 107.2 | 57.2 | 112.3 | 26.5 |
| Total federal tax | 700, Part I.3 tax payable, OFTP | 1617 | 4279.4 | 2910.2 | 1731.6 | 1444.8 |
| All other credit refunds (AOCR) | 780, 784, 788, 792, 796, 797, 804, 816 | 1.7 | 10.1 | 0.1 | 0 | 0.1 |
| Net federal taxes | Total federal tax minus AOCR | 1615.3 | 4269.3 | 2910.2 | 1731.6 | 1444.7 |
* 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.
** Includes recapture of investment tax credits.
- Date modified:
- 2016-03-17