Interest rates for the fourth calendar quarter
September 28, 2018
The Canada Revenue Agency (CRA) announced today the prescribed annual interest rates that will apply to any amounts owed to the CRA and to any amounts owed by the CRA to individuals and corporations. These rates will be in effect from October 1, 2018 to December 31, 2018.
- The interest rate charged on overdue taxes, Canada Pension Plan contributions, and employment insurance premiums will be 6%.
- The interest rate to be paid on corporate taxpayer overpayments will be 2%.
- The interest rate to be paid on non-corporate taxpayer overpayments will be 4%.
- The interest rate used to calculate taxable benefits for employees and shareholders from interest‑free and low-interest loans will be 2%.
- The interest rate for corporate taxpayers' pertinent loans or indebtedness will be 5.45%.