Audited Financial Statements - Administered Activities

Notes to the Financial Statements - Administered Activities

11. Interest, penalties, and other revenues

Various tax legislation gives the Agency the authority, under certain conditions, to collect interest and penalties related to taxes due and regulations not met by taxpayers. The Agency also has the authority to waive and forgive the interest and penalties that have been charged or that would normally be charged under certain circumstances such as Agency processing delays, financial hardship by taxpayers, or other extraordinary circumstances. Other revenues consist of miscellaneous fees and charges such as court fines and administration charges for dishonoured payments instruments.

Date modified:

2005-10-26