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

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5. Employee future benefits (a) Pension benefits The CRA and all eligible employees contribute to the Public Service Pension Plan, which is sponsored and administered by the Government of Canada. Pension benefits accrue up to a maximum period of 35 years at a rate of two percent per year of pensionable service, times the average of the best five consecutive years of earnings. The benefits are integrated with Canada/Québec pension plans benefits and they are indexed to inflation. Both the CRA and the employees contribute to the Public Service Pension Plan. The current year expense for the CRA’s contributions represents approximately 1.8 times the contributions by employees. The contributions to the Public Service Pension Plan for the year were as follows: The CRA’s responsibility with regard to this plan is limited to its contributions. Actuarial surpluses or deficiencies are recognized in the financial statements of the Government of Canada. (b) Health and dental benefits The CRA contributes for all eligible employees to the Public Service Health Care Plan and Public Service Dental Care Plan, which are sponsored by the Government of Canada. The CRA’s responsibility with regard to these plans is limited to its contributions (refer to note 10). Actuarial surpluses or deficiencies are recognized in the financial statements of the Government of Canada. (c) Severance benefits The CRA provides severance benefits to its employees based on eligibility, years of service and salary upon termination. One significant assumption used in the calculation of the obligation is the discount rate to determine the net present value of the liability. The rate used for the 2012 calculation was 2.75%, down from 4% in the prior period. This explains most of the increase in the obligation as at March 31, 2012. These severance benefits are not pre-funded with assets supporting the obligations, resulting in a deficit equal to the accrued benefit obligations. Benefits will be paid from future appropriations. Information about the severance benefits, measured as at March 31, is as follows: As part of changes to conditions of employment for certain employee groups effective October 1, 2011, the accumulation of severance benefits ceased for these employees. Employees subject to these changes have been given the option to be immediately paid the full or partial value of benefits earned to date or collect the full or remaining value of benefits on termination from the public service. These changes have been reflected in the calculation of the outstanding severance benefit obligation. ANNUAL REPORT 2011-2012 CANADA REVENUE AGENCY 2012 2011 (in thousands of dollars) CRA’s contributions 328,483 327,140 Employees’ contributions 182,491 164,802 2012 2011 (in thousands of dollars) Employee severance benefits, beginning of year 633,270 554,363 Cost for the year 184,675 125,687 Benefits paid during the year (69,901) (46,780) Transfer to Shared Services Canada (note 11) (15,731) - Employee severance benefits, end of year 732,313 633,270
6. Accounts receivable and advances 7. Tangible capital assets 2012 2011 (in thousands of dollars) Account receivable - Related parties 4,148 3,056 Accounts receivable - External 618 813 Advances to employees 1,527 1,717 Salary overpayments 2,973 3,025 9,266 8,611 Less: Allowance for doubtful accounts (884) (874) Total accounts receivable and advances 8,382 7,737 Opening balance Acquisitions Cost Disposals and reclassifications Transfer to Shared Services Canada (note 11) CANADA REVENUE AGENCY Closing balance Tangible capital asset class Machinery, equipment and furniture Software (purchased and in-house developed 12,336 1,381 (in thousands of dollars) (8,522) 9,875 12,364 and/or in development) 715,180 40,923 20,969 31,170 703,964 Vehicles and other means of transportation Information technology equipment including 2,305 337 432 - 2,210 leased assets 215,647 38,749 55,271 178,436 20,689 Total 945,468 81,390 68,150 219,481 739,227 Opening balance Amortization expense Accumulated amortization Disposals and reclassifications Transfer to Shared Services Canada (note 11) 93 Closing balance Tangible capital asset class Machinery, equipment and furniture Software (purchased and in-house developed 5,012 2,067 (in thousands of dollars) 386 1,381 5,312 and/or in development) 268,953 70,748 5,127 23,374 311,200 Vehicles and other means of transportation Information technology equipment including 1,513 301 413 - 1,401 leased assets 130,519 21,654 32,997 101,798 17,378 Total 405,997 94,770 38,923 126,553 335,291 ANNUAL REPORT 2011-2012
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“Canadian businesses are a vital
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Finally, the Board continued to exa
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“The CRA has always been committe
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[our mission] ANNUAL REPORT 2011-20
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12 we issued 111 million benefit an
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Given the importance of the benefit
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[conclusion] During 2011-2012, we a
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value of the payments processed was
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[providing information] web site Th
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There has been a substantial increa
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[voluntary disclosures] The Volunta
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ANNUAL REPORT 2011-2012 we identifi
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Specialized program areas also use
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pre-payment review of GST/HST refun
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to 2.3% of Gross Domestic Product i
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Our performance measures for addres
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[services] service complaints Our S
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Indicator 2010-2011 2011-2012 Chang
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Page 44 and 45: improving our human resources capac
Page 46 and 47: developed a strategy for managing t
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Page 64 and 65: Claims - video and film tax credits
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Page 95 and 96: 8. Segmented information - Expenses
Page 97 and 98: 10. Related party transactions The
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Page 101 and 102: Financial Statements Discussion and
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Page 105 and 106: Non-financial assets Non-financial
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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
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Page 119 and 120: 5. Amounts payable to taxpayers The
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
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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
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Page 137 and 138: Control frameworks The CRA uses the
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$73.9 million for increased disburs
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Performance Summary (in thousands o
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Authorities approved after Main Est
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