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

6. Deposit accounts

Deposit accounts are established to record cash and securities required to guarantee payment of GST as it relates to non-resident registrants and certain licensees as it relates to excise taxes, which are both payable pursuant to the Excise Tax Act. The following table presents activity on the deposit accounts as reported in the Statement of Administered Assets and Liabilities:
2008
2007
(in thousands of dollars)
Balance, beginning of year
58,652
51,279
Receipts and other credits
115,753
16,957
Payments and other charges
(69,614)
(9,584)
Balance, end of the year
104,791
58,652
Securities held in trust
(1,723)
(1,725)
Net deposit accounts
103,068
56,927



Date modified:
2009-01-29