Taxes receivable

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Taxes receivable include amounts assessed by Canada Revenue Agency and the Canada Border Services Agency but not yet collected, as well as estimates of unassessed taxes at year end. Amounts receivable also include related amounts for interest and penalties.

Taxes receivable include taxes, premiums and contributions collectable on behalf of others such as provincial and territorial governments and the Canada Pension Plan. These amounts have also been included in liabilities.

The Government establishes an allowance for doubtful accounts to reduce the carrying value of the taxes receivable to amounts that approximate their net realizable value.

Table 7.3 presents taxes receivable by tax stream. Amounts receivable that are written off or forgiven are included in Section 2 of Volume III (Debts, obligations and claims written off or forgiven).

Table summary

The table presents, in dollars, the taxes receivable by tax stream. It consists of three columns: a detailed listing of components; current year; previous year. The current and previous years' columns are divided into three columns, respectively—Gross taxes receivable, Allowance for doubtful accounts, and Net taxes receivable. A final row presents the total for this table.

Table 7.3
Taxes receivable as at March 31
(in dollars)
  2016 2015
Gross taxes receivable Allowance for doubtful accounts Net taxes receivable Gross taxes receivable Allowance for doubtful accounts Net taxes receivable
Taxes receivable
Income taxes receivable
Individuals 60,869,308,792 6,997,324,911 53,871,983,881 55,149,638,082 6,659,992,220 48,489,645,862
Employers 19,568,633,068 1,134,713,283 18,433,919,785 17,651,611,765 1,051,752,589 16,599,859,176
Corporations 18,183,660,374 2,528,528,152 15,655,132,222 16,964,503,258 2,282,669,652 14,681,833,606
Non-residents 1,510,732,853 132,147,710 1,378,585,143 1,462,071,331 137,763,880 1,324,307,451
Goods and services taxes receivable 17,959,424,759 2,962,220,840 14,997,203,919 18,248,319,758 2,784,966,988 15,463,352,770
Customs duties receivable 267,740,003 102,658,775 165,081,228 265,599,027 24,002,848 241,596,179
Excise taxes and duties receivable 1,817,961,293 472,479,032 1,345,482,261 1,895,340,042 196,753,602 1,698,586,440
Total 120,177,461,142 14,330,072,703 105,847,388,439 111,637,083,263 13,137,901,779 98,499,181,484

Table 7.4 presents the aging for taxes receivable for the period over which claims at March 31 have been outstanding. Receivables based on estimates of unassessed taxes at year end are included in current receivables.

Table summary

The table presents, in dollars, a two-year comparative of the aging for taxes receivable. It consists of two columns: a timeframe; Year ended March 31, divided into two columns—current year; previous year. A final row presents the total for this table.

Table 7.4
Aging of taxes receivable
(in dollars)
  Year ended March 31
2016 2015
Taxes receivable
Less than one year 77,310,061,861 71,629,514,792
1-2 7,122,526,674 7,110,899,188
2-3 5,572,184,339 5,642,563,058
3-4 5,072,838,141 4,529,275,948
4-5 4,072,259,084 3,870,348,255
Over 5 years 21,027,591,043 18,854,482,022
Total 120,177,461,142 111,637,083,263

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