Amounts Payable to Taxpayers

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Amounts payable to taxpayers are based on assessments as well as estimates of refunds owing for assessments not completed by year end.

Table 5.6 presents a summary of the balances for the different tax revenue streams.

Table Summary

The table presents, to the nearest dollar, a two-year comparative of the taxes payable. It consists of three columns; a detailed listing of components, current year ended March 31st; previous year ended March 31.

Table 5.6
Taxes Payable

  March 31, 2015 March 31, 2014
Personal and non‑resident income tax 35,867,570,481 32,218,590,587
Corporate income tax 9,327,020,173 9,806,504,730
Goods and services tax 10,904,113,838 10,524,546,108
Customs and excise 99,566,568 49,887,140
Total 56,198,271,060 52,599,528,565

Personal and non‑resident income tax

This account records tax refunds payable to individual taxpayers as well as amounts payable to employers and other withholders of personal income tax. This account also includes any interest owing on the balances.

Corporate income tax

This account records tax refunds payable and any interest owing to corporate taxpayers.

Goods and services tax

This account records refunds, rebates and any interest owing related to the goods and services tax.

Customs and excise

This account records refunds of customs import duties, excise taxes and duties, energy taxes and any interest owing on the balances.

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