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)
  2023 2022
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 96,963,868,066 9,994,553,339 86,969,314,727 95,892,669,183 9,408,302,787 86,484,366,396
Employers 33,571,988,552 1,713,356,107 31,858,632,445 28,105,335,416 1,496,960,311 26,608,375,105
Corporations 33,638,089,366 5,257,273,756 28,380,815,610 28,291,919,827 4,571,057,426 23,720,862,401
Non-residents 3,605,419,487 521,298,084 3,084,121,403 3,256,598,763 319,631,104 2,936,967,659
Goods and services taxes receivable 33,231,240,136 5,668,713,675 27,562,526,461 31,188,019,777 5,411,634,234 25,776,385,543
Customs import duties receivable 758,038,859 156,644,923 601,393,936 766,446,667 144,174,264 622,272,403
Other excise taxes and duties receivable 2,775,630,176 250,299,986 2,525,330,190 1,594,446,216 156,144,250 1,438,301,966
Total 204,544,274,642 23,562,139,870 180,982,134,772 189,095,435,849 21,507,904,376 167,587,531,473

Table 7.4
Aging of taxes receivable
(in dollars)
  2023 2022
Taxes receivable
Less than one year 129,068,841,460 122,830,713,876
1 to 2 12,911,696,296 9,437,675,892
2 to 3 7,161,997,527 7,100,138,760
3 to 4 6,594,995,350 7,484,436,613
4 to 5 7,265,258,985 5,794,184,810
Over 5 years 41,541,485,024 36,448,285,898
Total 204,544,274,642 189,095,435,849

Tax receivables based on estimates of unassessed taxes at year end are included in current receivables.

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