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, to the nearest dollar, the taxes receivable by tax stream. It consists of three columns: a detailed listing of components; current year; previous year each divided into the same three columns - Gross taxes receivable, Allowance for doubtful accounts and Net taxes receivable.

Table 7.3
Taxes Receivable as at March 31

  2015 2014
Gross taxes receviable
($)
Allowance for doubtful accounts
($)
Net taxes receivable
($)
Gross taxes receviable
($)
Allowance for doubtful accounts
($)
Net taxes receivable
($)
Taxes receivable —            
Income taxes receivable —            
Individuals 55,149,638,082 6,659,992,220 48,489,645,862 52,161,537,912 6,621,151,526 45,540,386,386
Employers 17,651,611,765 1,051,752,589 16,599,859,176 16,126,457,910 944,912,920 15,181,544,990
Corporations 16,964,503,258 2,282,669,652 14,681,833,606 15,409,462,337 2,151,715,071 13,257,747,266
Non‑residents 1,462,071,331 137,763,880 1,324,307,451 1,442,341,650 138,537,871 1,303,803,779
Goods and services taxes receivable 18,248,319,758 2,784,966,988 15,463,352,770 17,751,977,587 2,778,577,883 14,973,399,704
Customs duties receivable 265,599,027 24,002,848 241,596,179 246,051,141 15,533,111 230,518,030
Excise taxes and duties receivable 1,895,340,042 196,753,602 1,698,586,440 2,041,195,050 39,359,931 2,001,835,119
Total 111,637,083,263 13,137,901,779 98,499,181,484 105,179,023,587 12,689,788,313 92,489,235,274

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, to the nearest dollar, a two-year comparative of the aging for taxes receivable. It consists of two columns: a detailed listing of timeframe for the receivable; Year ended March 31 divided into two columns - current year; previous year.

Table 7.4
Aging of Taxes Receivable

  Year ended March 31
2015
($)
2014
($)
Taxes receivable    
Less than one year 71,629,514,792 68,085,532,437
1‑2 7,110,899,188 7,156,690,840
2‑3 5,642,563,058 4,888,330,498
3‑4 4,529,275,948 4,152,897,018
4‑5 3,870,348,255 4,063,866,877
Over 5 years 18,854,482,022 16,831,705,917
Total 111,637,083,263 105,179,023,587

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