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 […]

By Staff | March 27, 2017 | Last updated on September 15, 2023

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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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