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Interest Rates on Debts Owed to or by the CRA for the Third Quarter

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