Staff
The CRA has set the prescribed annual interest rates for amounts owing in Q2.
The family loan rate remains the same, at 1%.
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The only change from last quarter is the rate for corporate taxpayers’ pertinent loans or indebtedness, which will be 4.47%, the CRA says.
Rates are effective April 1, 2017, to June 30, 2017.
CRA outlines the rates as follows:
- 5% on overdue taxes, CPP contributions and employment insurance premiums,
- 1% on corporate taxpayer overpayments,
- 3% on non-corporate taxpayer overpayments and
- 1% on taxable benefits for employees and shareholders from interest-free and low-interest loans.
See the full list of Q2 rates here.
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