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 5.6
Amounts payable to taxpayers
(in dollars)

  March 31, 2017 March 31, 2016
Personal and non-resident income tax 35,530,639,338 34,585,461,543
Corporate income tax 8,718,842,155 8,293,710,337
Goods and services tax 10,777,092,225 10,755,233,354
Customs and excise 50,490,242 62,888,394
Total 55,077,063,960 53,697,293,628

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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