Other accounts payable and accrued liabilities

Public Accounts of Canada 2024 Volume I—Top of the page Navigation

Table 5.2
Other accounts payable and accrued liabilities
(in dollars)
  2024 2023
Accounts payable 52,256,841,932 41,047,370,169
Add: consolidation adjustmentLinks to footnote 1 in table 1 2,432,507,509 1,955,076,377
Subtotal 54,689,349,441 43,002,446,546
Accrued salaries and benefits 6,871,906,851 7,737,503,150
Matured debt 666,694,976 720,171,017
Notes payable to international organizations, Table 5.3 90,746,275 90,567,804
Provincial, Territorial and Indigenous Tax Agreements Account, Table 5.4 16,532,788,069 5,247,478,657
Miscellaneous paylist deductions 215,683,777 178,867,941
Other 827,402,096 793,524,436
Total 79,894,571,485 57,770,559,551

Accounts payable

This account records amounts owing at year-end pursuant to contractual arrangements, or for work performed, goods received, or services rendered, accrued amounts to be paid from appropriations and statutory authorities, and accrued financial obligations of consolidated Crown corporations and other entities.

Accrued salaries and benefits

This account records salaries and wages owing at year-end, amounts owing for earned and unpaid annual vacation leave and compensation time, and other accrued amounts relating to unpaid or retroactive salaries.

Matured debt

This account records financial obligations represented by certificates of indebtedness issued by the government that have become due but that have not been presented for redemption. Unclaimed matured bonds are transferred to other revenues if they remain unredeemed 15 years after the date of call or maturity, whichever is earlier.

Notes payable to international organizations

Share capital subscriptions, loans and advances are made to international organizations using cash, notes payable, or both, that are later presented for encashment according to terms of agreements. These demand notes are non-interest bearing and are non-negotiable. The subscriptions, loans and advances are recorded as assets and details are reported in Table 9.12 in Section 9 of this volume.

Table 5.3
Notes payable to international organizationsLinks to footnote * in table 2
(in dollars)
  April 1, 2023 Receipts and other credits Payments and other charges March 31, 2024
Note issuances RevaluationLinks to footnote 1 in table 2 Note encashment RevaluationLinks to footnote 1 in table 2
Department of Finance
Asian Infrastructure Investment Bank 53,817,973 106,271 – – – 53,924,244
International Bank for Reconstruction and Development (World Bank) 32,414,187 63,400 – – – 32,477,587
Multilateral Investment Guarantee Agency 4,335,644 8,800 – – – 4,344,444
Total 90,567,804 178,471 – – – 90,746,275

Provincial, Territorial and Indigenous Tax Agreements Account

This account records taxes administered by the Government of Canada on behalf of provinces, territories, and Indigenous governments, in accordance with agreements entered into by the Minister of Finance pursuant to the Federal-Provincial Fiscal Arrangements Act and, in the case of First Nations Goods and Services Tax, pursuant to the First Nations Goods and Services Tax Act.

The Government of Canada, as represented by the Minister of Finance, has entered into agreements with all provinces and territories (except Quebec) to collect and administer personal income tax, and with all provinces and territories (except Quebec and Alberta) to collect and administer corporate tax, and to pay amounts assessed in respect thereof in accordance with the agreements.

Agreements have also been entered into with certain Indigenous governments, to collect First Nations Personal Income Tax as well as First Nations Sales Tax levied on motive fuels, tobacco, and alcohol and First Nations Goods and Services Tax levied on the same range of goods and services as the federal goods and services tax, and to make payments to the respective governments in accordance with the agreements.

This account also records transactions relating to agreements that the Government of Canada has entered into with the provinces of New Brunswick, Newfoundland and Labrador, Nova Scotia, Ontario and Prince Edward Island regarding the Harmonized Sales Tax, and payments made to those provinces in accordance with the Comprehensive Integrated Tax Coordination Agreements between the Government of Canada and the provinces.

In addition, the account records transactions related to the Coordinated Cannabis Taxation Agreements reached with all provinces and territories (except Manitoba). Provinces and territories receive revenues from the cannabis excise duty imposed under the Excise Act, 2001.
The Government of Canada pays provinces monthly based on the duties assessed, in accordance with the agreements.

The Public Accounts of Canada reports information on an April to March fiscal year basis, while tax information is generally calculated on a calendar year basis. Transactions related to several tax years can occur during a given fiscal year. For example, during a given fiscal year, payments are made, based on estimates, in respect of two calendar years (April to December and January to March). During this period, it is also necessary to make payments or adjustments related to tax revenues, rebates and credits for previous calendar years.

Table 5.4
Provincial, Territorial and Indigenous Tax Agreements AccountLinks to footnote * in table 3
(in dollars)
  April 1, 2023 Receipts and other credits Payments and other charges March 31, 2024
Total personal income tax administered by the Government of Canada 3,533,838,180 101,523,527,885   105,057,366,065
Less: payments to provinces, territories and Indigenous governments
Newfoundland and Labrador     1,836,547,082 1,836,547,082
Prince Edward Island     573,483,184 573,483,184
Nova Scotia     4,154,976,655 4,154,976,655
New Brunswick     2,344,024,736 2,344,024,736
Ontario     49,969,754,150 49,969,754,150
Manitoba     4,470,726,839 4,470,726,839
Saskatchewan     3,305,184,882 3,305,184,882
Alberta     15,486,914,499 15,486,914,499
British Columbia     15,631,455,795 15,631,455,795
Yukon     106,288,640 106,288,640
Northwest Territories     98,585,870 98,585,870
Nunavut     38,568,043 38,568,043
Indigenous governments     38,990,798 38,990,798
Subtotal     98,055,501,173 98,055,501,173
Total personal income tax on hand 3,533,838,180 101,523,527,885 98,055,501,173 7,001,864,892
Total corporate income tax administered by the Government of Canada 996,414,531 32,747,934,777   33,744,349,308
Less: payments to provinces and territories
Newfoundland and Labrador     267,244,095 267,244,095
Prince Edward Island     104,728,524 104,728,524
Nova Scotia     622,032,834 622,032,834
New Brunswick     645,777,978 645,777,978
Ontario     16,119,778,663 16,119,778,663
Quebec     57,169,739 57,169,739
Manitoba     627,669,758 627,669,758
Saskatchewan     2,362,288,217 2,362,288,217
Alberta     59,755,463 59,755,463
British Columbia     3,644,302,021 3,644,302,021
Yukon     (negative 1,982,585) (negative 1,982,585)
Northwest Territories     59,081,214 59,081,214
Nunavut     15,364,137 15,364,137
Subtotal     24,583,210,058 24,583,210,058
Total corporate income tax on hand 996,414,531 32,747,934,777 24,583,210,058 9,161,139,250
Total harmonized sales tax administered by the Government of Canada 379,530,947 43,145,565,245   43,525,096,192
Less: payments to provinces and territories
Newfoundland and Labrador     1,456,051,506 1,456,051,506
Prince Edward Island     479,706,560 479,706,560
Nova Scotia     2,821,229,228 2,821,229,228
New Brunswick     2,129,088,155 2,129,088,155
Ontario     36,634,908,381 36,634,908,381
Subtotal     43,520,983,830 43,520,983,830
Total harmonized sales tax on hand 379,530,947 43,145,565,245 43,520,983,830 4,112,362
Total cannabis tax administered by the Government of Canada 337,694,999 834,215,295   1,171,910,294
Less: payments to provinces and territories
Newfoundland and Labrador     11,689,152 11,689,152
Prince Edward Island     3,400,290 3,400,290
Nova Scotia     16,946,162 16,946,162
New Brunswick     12,841,294 12,841,294
Ontario     337,933,984 337,933,984
Quebec     83,378,949 83,378,949
Saskatchewan     30,961,045 30,961,045
Alberta     205,311,261 205,311,261
British Columbia     100,954,755 100,954,755
Yukon     1,259,248 1,259,248
Northwest Territories     1,038,333 1,038,333
Nunavut     524,256 524,256
Subtotal     806,238,729 806,238,729
Total cannabis tax on hand 337,694,999 834,215,295 806,238,729 365,671,565
Total First Nations sales tax administered by the Government of Canada 6,421,946 7,402,126 – 13,824,072
Less: payments to Indigenous governments 6,421,946 – 7,402,126 13,824,072
Total First Nations sales tax on hand – 7,402,126 7,402,126 –
Total First Nations goods and services sales tax administered by the Government of Canada 26,577,724 28,928,418 – 55,506,142
Less: payments to Indigenous governments 26,577,724 – 28,928,418 55,506,142
Total First Nations goods and services sales tax on hand – 28,928,418 28,928,418 –
Total 5,247,478,657 178,287,573,746 167,002,264,334 16,532,788,069

Miscellaneous paylist deductions

Deductions from the salaries and wages of certain employees are credited to this account pending transmittal to related outside organizations.

Other

Miscellaneous accounts payable and accrued liabilities such as provincial sales tax collected on sales are recorded in this account.

Public Accounts of Canada 2024 Volume I—Bottom of the page Navigation

Date modified: