CRA Annual Report to Parliament 2011-2012 (PDF - Agence du ...

More documents

Recommendations

Info

Changes in the allowance for doubtful accounts include the following: The provision of $3,813 million ($3,452 million in 2011) reported above includes an amount of $3,711 million ($3,344 million in 2011) recorded as an expense administered on behalf of the federal government (see Note 2(e)) and $102 million ($108 million in 2011) charged against expenses administered on behalf of the Canada Pension Plan. 4. Amounts receivable under the tobacco civil settlements On July 31, 2008, the federal and provincial governments entered into civil settlement agreements with two tobacco companies to resolve potential civil claims. Under the terms of the agreements, payments totalling $850 million are to be made to Canada, for Canada and the provinces. The federal government's share is $325 million and the provincial governments’ share is $525 million. The settlement agreements state that the amounts will be fully paid by 2023. Up to $800 million is expected to be received in the first 10 years of the agreements and about $50 million in the following five years. These amounts are recorded at the nominal value. The following table gives details of the amounts receivable related to the tobacco civil settlement agreements: ANNUAL REPORT 2011-2012 CANADA REVENUE AGENCY Allowance for doubtful accounts March 31, 2011 Provision for doubtful accounts Write-offs (in thousands of dollars) Allowance for doubtful accounts March 31, 2012 Income Taxes Individuals (5,459,080) (1,836,110) 1,198,324 (6,096,866) Employers (999,100) (381,367) 341,429 (1,039,038) Corporations (1,752,663) (565,283) 532,236 (1,785,710) Non-residents (127,478) (24,245) 37,784 (113,939) GST/HST (2,566,677) (980,985) 706,313 (2,841,349) Excise taxes and duties and miscellaneous charges (45,262) (25,624) 25,456 (45,430) Total (10,950,260) (3,813,614) 2,841,542 (11,922,332) Government of Canada share 2012 2011 Provincial share Total Government of Canada share (in thousands of dollars) Provincial share Total Balance, beginning of year 279,000 309,227 588,227 314,900 332,911 647,811 Amounts received during the year (15,000) (46,695) (61,695) (35,900) (23,684) (59,584) Balance, end of year 264,000 262,532 526,532 279,000 309,227 588,227
5. Amounts payable to taxpayers The following table gives details of the amounts payable to taxpayers as reported in the Statement of Administered Assets and Liabilities: 6. Amounts payable to provinces The following table gives details of amounts payable to provinces as reported in the Statement of Administered Assets and Liabilities: The CRA is acting as an agent for the provinces under the tobacco civil settlements. The CRA’s liability to the provinces for their expected share of the settlement amounts is limited to the amounts that will ultimately be collected from the tobacco companies. Amounts payable to provinces, territories, and other organizations, which are settled by other departments such as the Department of Finance for provincial, territorial, and First Nations taxes, are not recorded in these financial statements because these amounts are outside the CRA’s responsibility. 7. Deposit accounts 2012 2011 (in thousands of dollars) Individuals 30,261,028 29,591,211 Corporations 9,860,976 9,795,864 GST/HST 10,535,003 9,133,614 Employers and non-residents 248,396 66,933 Excise taxes and duties and miscellaneous charges 50,866 59,501 Total 50,956,269 48,647,123 2012 2011 (in thousands of dollars) Provincial share of the tobacco civil settlements (note 4) 262,532 309,227 Softwood lumber products export charge net of costs incurred by the federal government 59,676 62,941 Amounts payable to Quebec: Individual income tax witholdings 218,860 202,631 GST refunds issued by Quebec 113,483 74,495 Nova Scotia worker’s compensation 1,503 575 Ontario corporate tax and opportunities fund 1,709 619 Total 657,763 650,488 Deposit accounts are established to record cash and securities required to guarantee payment of GST for non-resident registrants and certain licensees for excise taxes, which are both payable pursuant to the Excise Tax Act. The following table shows activity on the deposit accounts as reported in the Statement of Administered Assets and Liabilities: CANADA REVENUE AGENCY 119 ANNUAL REPORT 2011-2012
Page 1 and 2:
Draft - Protected B 5 November 2012
Page 3 and 4:
“Canadian businesses are a vital
Page 5 and 6:
Finally, the Board continued to exa
Page 7:
“The CRA has always been committe
Page 10 and 11:
[our mission] ANNUAL REPORT 2011-20
Page 12 and 13:
12 we issued 111 million benefit an
Page 14 and 15:
Given the importance of the benefit
Page 16 and 17:
[conclusion] During 2011-2012, we a
Page 18 and 19:
value of the payments processed was
Page 20 and 21:
[providing information] web site Th
Page 22 and 23:
There has been a substantial increa
Page 24 and 25:
[voluntary disclosures] The Volunta
Page 26 and 27:
ANNUAL REPORT 2011-2012 we identifi
Page 28 and 29:
Specialized program areas also use
Page 30 and 31:
pre-payment review of GST/HST refun
Page 32 and 33:
to 2.3% of Gross Domestic Product i
Page 34 and 35:
Our performance measures for addres
Page 36 and 37:
36 Draft - Protected B 5 November 2
Page 38 and 39:
[services] service complaints Our S
Page 40 and 41:
Indicator 2010-2011 2011-2012 Chang
Page 42 and 43:
Draft - Protected B 5 November 2012
Page 44 and 45:
improving our human resources capac
Page 46 and 47:
developed a strategy for managing t
Page 48 and 49:
Board of Management Oversight Frame
Page 50 and 51:
50 Draft - Protected B 5 November 2
Page 52 and 53:
[board’s priorities and accomplis
Page 54 and 55:
[management of personnel] Against a
Page 56 and 57:
[committee membership and director
Page 58 and 59:
ANNUAL REPORT 2011-2012 CANADA REVE
Page 60 and 61:
ANNUAL REPORT 2011-2012 [service st
Page 62 and 63:
ANNUAL REPORT 2011-2012 Service Sta
Page 64 and 65:
Claims - video and film tax credits
Page 66 and 67:
challenges and exceptions advance i
Page 68 and 69: ANNUAL REPORT 2011-2012 [other item
Page 70 and 71: Benefit programs and benefit-relate
Page 72 and 73: D Dispute - General term to designa
Page 74 and 75: S Service standard - A public state
Page 76 and 77: ANNUAL REPORT 2011-2012 CANADA REVE
Page 79 and 80: Canada Revenue Agency Audited Finan
Page 81 and 82: Opinion In my opinion, the financia
Page 83 and 84: Expenses (note 8) Statement of Oper
Page 85 and 86: Statement of Cash Flows - Agency Ac
Page 87 and 88: 2. Summary of significant accountin
Page 89 and 90: (k) Contingent liabilities Continge
Page 91 and 92: (b) Reconciliation of net cost of o
Page 93 and 94: 6. Accounts receivable and advances
Page 95 and 96: 8. Segmented information - Expenses
Page 97 and 98: 10. Related party transactions The
Page 99 and 100: 12. Board of Management Pursuant to
Page 101 and 102: Financial Statements Discussion and
Page 103 and 104: Discussion and analysis Analysis of
Page 105 and 106: Non-financial assets Non-financial
Page 107 and 108: Canada Revenue Agency Audited Finan
Page 109 and 110: Emphasis of Matter Without modifyin
Page 111 and 112: Canada Revenue Agency Statement of
Page 113 and 114: Canada Revenue Agency Statement of
Page 115 and 116: A new accounting standard issued by
Page 117: Expenses and Recoveries. Except for
Page 121 and 122: the CRA administers. It does not in
Page 123 and 124: 15. Pension contributions, interest
Page 125 and 126: Individual and Trust Income Tax Ind
Page 127 and 128: Income Tax Revenues - Individual an
Page 129 and 130: sales tax credits. This was partial
Page 131 and 132: summary information as of March 31,
Page 133 and 134: 1.5 Significant changes in fiscal y
Page 135 and 136: A delegated authorities matrix whic
Page 137 and 138: Control frameworks The CRA uses the
Page 139 and 140: The CRA will move into an ongoing a
Page 141 and 142: Canada Revenue Agency - Unaudited S
Page 143 and 144: $73.9 million for increased disburs
Page 145 and 146: Performance Summary (in thousands o
Page 147: Authorities approved after Main Est
show all

CRA Annual Report to Parliament 2011-2012 (PDF - Agence du ...

Create successful ePaper yourself

Delete template?

Save as template?