CCRA Annual Report to Parliament 2004-2005

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Audited Financial Statements - Administered Activities

Notes to the Financial Statements - Administered Activities

3. Transferred Operations

With the creation of the Canada Border Services Agency (CBSA), as described in Note 1, the customs activities are no longer administered by CCRA. Consequently, all the assets and liabilities relating to customs activities including GST and HST on imports were transferred to CBSA.

The previously reported Statement of Administered Assets and Liabilities as at March 31, 2004 has been restated as shown in the table below to present the effect of this transfer.
As previously reported
Transferred to CBSA
As restated
(in thousands of dollars)
ADMINISTERED ASSETS
Cash on hand
6,136,765
(1,902,690)
4,234,075
Amounts receivable from taxpayers
47,953,395
(953,018)
47,000,377
TOTAL ASSETS
54,090,160
(2,855,708)
51,234,452
ADMINISTERED LIABILITIES
Amounts payable to taxpayers
33,039,710
(22,201)
33,017,509
Amounts payable to provinces
87,742
(4,107)
83,635
Deposit accounts
38,172
(3,955)
34,217
33,165,624
(30,263)
33,135,361
Net amount due to the Consolidated Revenue Fund on behalf of the Government of Canada and others
20,924,536
(2,825,445)
18,099,091
TOTAL LIABILITIES
54,090,160
(2,855,708)
51,234,452

The following table presents the details of the net revenues related to customs activities reclassified in the 2004 Statement of Administered Revenues.
2004
(in thousands of dollars)
Federal Government Taxes and Duties related to customs activities
Goods and Services Tax (GST)
19,552,904
Customs import duties
2,887,025
Other Excise taxes and duties
209,040
Energy taxes
44,881
Interest, penalties, and other revenues
37,712
Less: Provision for bad debts and interest expense
(20,094)
22,711,468
Provincial, Territorial Governments and First Nations Revenues related to customs activities
Harmonized Sales Tax (HST)
1,465,865
Other revenues
51,472
Total Net Revenues related to customs activities
24,228,805



Date modified:
2005-10-26