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 7.3
Taxes receivable as at March 31
(in dollars)
  2020 2019
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 67,818,595,915 8,264,901,856 59,553,694,059 70,465,757,148 7,560,795,187 62,904,961,961
Employers 20,848,406,922 1,191,585,487 19,656,821,435 21,993,133,398 1,152,431,878 20,840,701,520
Corporations 19,597,523,028 2,834,220,756 16,763,302,272 20,296,700,593 2,976,231,550 17,320,469,043
Non-residents 2,135,586,916 130,261,556 2,005,325,360 2,027,133,502 96,756,886 1,930,376,616
Goods and services taxes receivable 24,147,888,754 2,950,739,582 21,197,149,172 24,594,850,908 2,491,668,152 22,103,182,756
Customs import duties receivable 646,869,344 94,981,789 551,887,555 809,485,262 80,114,671 729,370,591
Other excise taxes and duties receivable 1,561,019,448 191,053,836 1,369,965,612 1,933,206,812 201,123,447 1,732,083,365
Total 136,755,890,327 15,657,744,862 121,098,145,465 142,120,267,623 14,559,121,771 127,561,145,852

Table 7.4
Aging of taxes receivable
(in dollars)
  2020 2019
Taxes receivable
Less than one year 82,880,807,553 92,967,829,675
1 to 2 10,045,430,309 7,813,139,743
2 to 3 6,110,969,526 5,855,837,635
3 to 4 5,326,623,950 5,899,196,411
4 to 5 5,755,789,452 4,743,307,764
Over 5 years 26,636,269,537 24,840,956,395
Total 136,755,890,327 142,120,267,623

Tax receivables based on estimates of unassessed taxes at year end are included in current receivables.

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