Audited Financial Statements – Administered Activities

Notes to the Financial Statements – Administered Activities

9. Good and Services Tax revenues

The GST reported on the Statement of Administered Revenues is net of Input Tax Credits (ITC) and rebates administered by the Agency. It does not include GST revenues on imported goods of $23,253 million in 2006 ($21,909 million in 2005), which are administered and reported by the Canada Border Services Agency since April 1, 2004. The Canada Revenue Agency has sole responsibility for the administration of all ITC including those claimed on imported goods. ITC relating to GST on imports are not accounted for separately from ITC relating to GST on domestic transactions.

The following table presents details of the GST revenues administered by the Agency for the Government of Canada as reported in the Statement of Administered Revenues:

Audited

Date modified:

2006-11-23