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

Financial Statements Discussion and Analysis – Administered
Activities
Introduction
The Financial Statements - Administered Activities reflect the total assets and liabilities, tax and non-tax revenues, expenses
and recoveries, and cash flows administered by the Canada Revenue Agency on behalf of the Government of Canada,
provinces, territories, First Nations, and other government organizations. Tax revenues are recognized on an accrual basis
and are net of the applicable deductions and credits allowed under various Acts.
The Financial Statement Discussion and Analysis provides unaudited complementary and supplementary information on
Administered Activities in respect of matters reported in the audited Financial Statements. Responsibility for the preparation
of the Financial Statement Discussion and Analysis rests with CRA management.
Tax Revenues
The Canada Revenue Agency collects the majority of federal tax revenues. Other agencies and departments, such as the
Canada Border Services Agency, account for the balance of total Federal Revenues reported in the Public Accounts of
Canada. For further information on revenue collected by the Government of Canada as a whole, please refer to the Annual
Financial Report of the Government of Canada, available at www.fin.gc.ca/purl/afr-eng.asp.
Revenues administered on behalf of the Government of Canada
Federal Administered Revenues ($000) 2012 2011 +/- %
Income Tax Revenues
Individual and trust 119,473,450 113,570,868 5,902,582 5.2%
Corporate 31,701,857 29,969,047 1,732,810 5.8%
Non-resident tax withholdings 5,300,928 5,137,774 163,154 3.2%
Other Taxes, Duties, and Charges
Net revenues were $198.3 billion in 2012, some $7.3 billion higher than in 2011. All administered revenues were higher
except Goods and Services Tax, Energy Taxes, and Interest, penalties, and other revenues.
ANNUAL REPORT
2011-2012
CANADA REVENUE AGENCY
156,476,235 148,677,689 7,798,546 5.2%
Goods and Services Tax 10,372,547 11,583,050 (1,210,503) (10.5%)
Energy Taxes 5,268,716 5,298,323 (29,607) (0.6%)
Other Excise taxes and duties 3,342,813 3,301,658 41,155 1.2%
Miscellaneous charges 865,274 833,169 32,105 3.9%
19,849,350 21,016,200 (1,166,850) (5.6%)
Employment Insurance Premiums 19,030,411 17,862,454 1,167,957 6.5%
Interest, penalties, and other revenues 3,663,901 4,028,248 (364,347) (9.0%)
Interest expense (696,654) (560,746) (135,908) 24.2%
21,997,658 21,329,956 667,702 3.1%
Net Revenues Administered on behalf of the
Government of Canada 198,323,243 191,023,845 7,299,398 3.8%