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)

  2017 2016
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 59,810,970,827 7,061,549,731 52,749,421,095 60,869,308,792 6,997,324,911 53,871,983,881
Employers 21,592,364,767 1,181,565,295 20,410,799,472 19,568,633,068 1,134,713,283 18,433,919,785
Corporations 18,915,799,715 2,813,624,506 16,102,175,209 18,183,660,374 2,528,528,152 15,655,132,222
Non-residents 1,728,906,637 141,619,019 1,587,287,618 1,510,732,853 132,147,710 1,378,585,143
Goods and services taxes receivable 20,280,560,582 2,502,246,028 17,778,314,554 17,959,424,759 2,962,220,840 14,997,203,919
Customs duties receivable 603,622,255 38,085,461 565,536,794 267,740,003 102,658,775 165,081,228
Excise taxes and duties receivable 1,834,458,651 514,100,822 1,320,357,829 1,817,961,293 472,479,032 1,345,482,261
Total 124,766,683,433 14,252,790,862 110,513,892,571 120,177,461,142 14,330,072,703 105,847,388,439

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 7.4
Aging of taxes receivable
(in dollars)

  Year ended March 31
2017 2016
Taxes receivable
Less than one year 80,193,932,239 77,310,061,861
1-2 8,215,769,761 7,122,526,674
2-3 5,731,393,837 5,572,184,339
3-4 4,938,363,937 5,072,838,141
4-5 4,789,695,152 4,072,259,084
Over 5 years 20,897,528,507 21,027,591,043
Total 124,766,683,433 120,177,461,142

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