CRA sets Q2 interest rates

CRA sets Q2 interest rates


The CRA has set the prescribed annual interest rates for amounts owing in Q2.

The family loan rate remains the same, at 1%.

Read: Liberals reviewing private corporations, high-income tax strategies

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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Published at Mon, 27 Mar 2017 15:37:03 -0500