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

More documents

Recommendations

Info

8. Net amount due to the Consolidated Revenue Fund The net amount due to the Consolidated Revenue Fund on behalf of the Government of Canada and others is the difference between administered assets (taxes not yet received and/or deposited in the fund) and other administered liabilities payable by the CRA out of the fund. The net cash deposited in the Consolidated Revenue Fund of the Government of Canada includes amounts the CRA receives on behalf of the federal government, provinces, territories, and other organizations and deposits in the fund, less refunds and payments issued from the fund during the year. The following table shows the change in the net amount due to the Consolidated Revenue Fund during the fiscal year: 9. Contingent liabilities Contingent liabilities include previously assessed taxes where amounts are under objection or are being appealed to the Tax Court of Canada, the Federal Court of Canada, or the Supreme Court of Canada. As of March 31, 2012, $19,944 million was under objection at the CRA level ($17,117 million for 2011) and $4,840 million was being appealed to the courts ($3,299 million for 2011). The CRA has recorded, in the amounts payable to taxpayers or in reduction of the amounts receivable from taxpayers, as applicable, the estimated amount of objections or appeals that are considered likely to be lost and that can be reasonably estimated. 10. Goods and services tax revenues The GST reported on the Statement of Administered Revenues and Pension Contributions includes the federal portion of HST. It is net of input tax credits (ITCs), rebates, and the GST quarterly tax credit for low-income individuals and families that ANNUAL REPORT 2011-2012 CANADA REVENUE AGENCY 2012 2011 (in thousands of dollars) Balance, beginning of year 107,892 99,833 Receipts and other credits 52,173 33,626 Payments and other charges (31,373) (25,567) Balance, end of year 128,692 107,892 Securities held in trust (140) (250) Net deposit accounts 128,552 107,642 2012 2011 (in thousands of dollars) Net amount due to the Consolidated Revenue Fund on behalf of the Government of Canada and others at the beginning of the year 34,560,496 23,956,671 Total net administered revenues and pension contributions 331,711,102 310,759,912 Total net administered expenses and recoveries (20,789,278) (20,464,477) Net cash deposited in the Consolidated Revenue Fund of the Government of Canada Net amount due to the Consolidated Revenue Fund on behalf of the Government of (307,199,490) (279,691,610) Canada and others at the end of the year 38,282,830 34,560,496
the CRA administers. It does not include GST revenues on imported goods, which are administered and reported by the Canada Border Services Agency. The CRA has sole responsibility for administering all ITCs, including those claimed on imported goods. ITCs relating to GST on imports are not accounted for separately from ITCs relating to GST on domestic transactions. The following table shows details of the GST revenues that the CRA administers for the Government of Canada as reported in the Statement of Administered Revenues and Pension Contributions: The amounts of GST net revenues reported above are net of receipts and disbursements resulting from processing GST returns. During the period, the CRA has processed $86,209 million in receipts ($69,567 million in 2011) and $78,995 million in disbursements and transfers ($62,051 million in 2011). 11. Miscellaneous charges The following table details the miscellaneous charges that the CRA administers for the federal government as reported in the Statement of Administered Revenues and Pension Contributions: 12. Interest, penalties, and other revenues 2012 2011 (in thousands of dollars) GST revenues net of ITCs 20,904,252 21,299,433 GST rebates (6,637,641) (5,925,091) GST quarterly tax credits for low-income individuals and families (3,894,064) (3,791,292) GST net revenues 10,372,547 11,583,050 Various tax legislation gives the CRA the authority, under certain conditions, to collect interest and penalties related to taxes due and regulations that taxpayers have not complied with. The CRA has the authority to waive the interest and penalties that would normally be charged under certain circumstances such as processing delays caused by the CRA, financial hardship experienced by taxpayers, or other extraordinary circumstances. Other revenues consist of miscellaneous fees and charges such as court fines and administration charges for dishonoured payments. The following table gives details on interest, penalties, and other revenues that the CRA administers for the federal government as reported in the Statement of Administered Revenues and Pension Contributions: CANADA REVENUE AGENCY 2012 2011 (in thousands of dollars) Softwood lumber products export charge 234,271 233,126 Air travellers security charge 631,003 600,078 Charge on refund of duty deposits for softwood lumber - (35) Total 865,274 833,169 121 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 and 118: Expenses and Recoveries. Except for
Page 119: 5. Amounts payable to taxpayers The
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?