CRA Annual Report to Parliament 2007-2008 - Canada Revenue Agency Financial Statements – Administered Activities

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Canada Revenue Agency Financial Statements – Administered Activities

Canada Revenue Agency
Notes to the Financial Statements – Administered Activities

3. Amounts receivable from taxpayers

The following table presents details of the amounts receivable from taxpayers as reported in the Statement of Administered Assets and Liabilities. These amounts include related interest and penalties receivable. Amounts receivable from individuals and employers include Canada Pension Plan contributions and Employment Insurance premiums as applicable.

2008
2007
Gross
Allowance for Doubtful Accounts
Net
Net
(in thousands of dollars)
Income Taxes
Individuals
37,163,685
(3,837,980)
33,325,705
31,430,027
Employers
13,914,031
(767,757)
13,146,274
14,007,015
Corporations
10,686,448
(1,456,133)
9,230,315
8,610,455
Non-Residents
1,116,347
(179,674)
936,673
1,014,522
GST
9,183,064
(2,083,936)
7,099,128
9,134,199
Excise taxes and duties and miscellaneous charges
1,075,965
(287,014)
788,951
1,000,965
Total
73,139,540
(8,612,494)
64,527,046
65,197,183

Changes in the allowance for doubtful accounts are as follows:
Allowance for Doubtful Accounts April 1, 2007
Provision for Doubtful Accounts
Write-Offs
Allowance for Doubtful Accounts March 31, 2008
(in thousands of dollars)
Income Taxes
Individuals
(3,490,428)
(1,261,673)
914,121
(3,837,980)
Employers
(555,087)
(360,467)
147,797
(767,757)
Corporations
(1,054,676)
(779,724)
378,267
(1,456,133)
Non-Residents
(65,755)
(110,526)
(3,393)
(179,674)
GST
(1,204,240)
(1,205,094)
325,398
(2,083,936)
Excise taxes and duties and miscellaneous charges
(22,134)
(269,782)
4,902
(287,014)
Total
(6,392,320)
(3,987,266)
1,767,092
(8,612,494)

The provision of $3,987 million ($3,578 million in 2007) reported above includes an amount of $3,895 million ($3,478 million in 2007) recorded as an expense administered on behalf of the federal government (see Note 2 (e)) and $92 million ($100 million in 2007) charged against expenses administered on behalf of the Canada Pension Plan.

During the year, the Agency revised its management processes for estimating the general portion of its allowance for doubtful accounts. The new estimation model incorporates historical loss experience to arrive at separate loss factors by revenue stream stratified by the size and age of tax receivables.



Date modified:
2009-01-29