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)
  2018 2017
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 67,171,698,839 7,241,492,017 59,930,206,822 59,810,970,827 7,061,549,731 52,749,421,095
Employers 21,449,069,560 1,100,857,198 20,348,212,362 21,592,364,767 1,181,565,295 20,410,799,472
Corporations 20,175,441,045 3,066,207,663 17,109,233,382 18,915,799,715 2,813,624,506 16,102,175,209
Non-residents 2,018,871,971 137,055,373 1,881,816,598 1,728,906,637 141,619,019 1,587,287,618
Goods and services taxes receivable 23,880,438,148 2,441,049,452 21,439,388,696 20,280,560,582 2,502,246,028 17,778,314,554
Customs import duties receivable 636,363,253 59,197,704 577,165,549 603,622,255 38,085,461 565,536,794
Other excise taxes and duties receivable 2,048,080,110 299,342,282 1,748,737,828 1,834,458,651 514,100,822 1,320,357,829
Total 137,379,962,926 14,345,201,689 123,034,761,237 124,766,683,433 14,252,790,862 110,513,892,571

Table 7.4
Aging of taxes receivable
(in dollars)
  2018 2017
Taxes receivable
Less than one year 90,654,668,405 80,193,932,239
1-2 7,678,941,399 8,215,769,761
2-3 6,797,321,768 5,731,393,837
3-4 5,079,581,151 4,938,363,937
4-5 4,937,795,246 4,789,695,152
Over 5 years 22,231,654,957 20,897,528,507
Total 137,379,962,926 124,766,683,433

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

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