March 15, 2022 – CRA Publishes Q2 Prescribed Interest Rates

by | Mar 15, 2022 | Industry Updates

If you are in arrears to the government, for example, late paying your income tax instalment, you will be charged interest. Each quarter CRA calculates and publishes prescribed interest rates. Visit Interest rates for the second calendar quarter – Canada.ca for the Q2 rates.

Note that “The interest rate for corporate taxpayers’ pertinent loans or indebtedness will be 4.38%.” This is increased from the previous rate of 4.15%.

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