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, in dollars, a two-year comparative of the amounts payable to taxpayers by tax revenue stream. It consists of three columns: a detailed listing of components, current year ended March 31st; previous year ended March 31. A final row presents the total for this table.

Table 5.6
Amounts payable to taxpayers

(in dollars)

  March 31, 2016 March 31, 2015
Personal and non-resident income tax 34,585,461,543 35,867,570,481
Corporate income tax 8,293,710,337 9,327,020,173
Goods and services tax 10,755,233,354 10,904,113,838
Customs and excise 62,888,394 99,566,568
Total 53,697,293,628 56,198,271,060

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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