The CRA announced they have “further extended the payment due date for current year individual income tax returns, as well as for instalment payments, from September 1, 2020, to September 30, 2020. Penalties and interest will not be charged if payments are made and returns are filed by the extended deadline of September 30, 2020.”
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January 1 – March 31, 2024 – Prescribed Interest Rates for Q1
CRA publishes prescribed interest rates each quarter. If you are in arrears to the government, for example, late in paying your income tax instalment, you will be charged interest.
