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Interest rates on debts owed to or by the CRA for the third quarter will be:
- 5% on overdue taxes, CPP contributions and EI premiums
- 1% on corporate tax overpayments
- 3% on non-corporate tax overpayments
- 1% rate when calculating taxable benefit from interest-free and low-interest loans
- 4.93% rate for certain corporate taxpayer’s loans or debt
- 5% on overdue GST remittance; 1% (corporate)/3% (non-corporate) on overpaid HST remittances
- 5% on overdue HST remittance; 1% (corporate)/3% (non-corporate) on overpaid HST remittances