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)
  2024 2023
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 107,182,981,562 10,565,204,078 96,617,777,484 96,963,868,066 9,994,553,339 86,969,314,727
Employers 34,930,125,282 2,284,386,962 32,645,738,320 33,571,988,552 1,713,356,107 31,858,632,445
Corporations 40,787,462,948 6,211,722,421 34,575,740,527 33,638,089,366 5,257,273,756 28,380,815,610
Non-residents 4,436,193,287 643,163,062 3,793,030,225 3,605,419,487 521,298,084 3,084,121,403
Goods and services taxes receivable 38,972,318,114 6,764,313,734 32,208,004,380 33,231,240,136 5,668,713,675 27,562,526,461
Customs import duties receivable 820,583,377 196,316,736 624,266,641 758,038,859 156,644,923 601,393,936
Other excise taxes and duties receivable 3,157,182,636 577,092,441 2,580,090,195 2,775,630,176 250,299,986 2,525,330,190
Total 230,286,847,206 27,242,199,434 203,044,647,772 204,544,274,642 23,562,139,870 180,982,134,772

Table 7.4
Aging of taxes receivable
(in dollars)
  2024 2023
Taxes receivable
Less than one year 143,129,970,887 129,068,841,460
1 to 2 15,629,559,614 12,911,696,296
2 to 3 11,102,677,676 7,161,997,527
3 to 4 6,472,273,265 6,594,995,350
4 to 5 6,148,561,966 7,265,258,985
Over 5 years 47,803,803,798 41,541,485,024
Total 230,286,847,206 204,544,274,642

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

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