2010 Fourth Quarter Interest Rates
The fourth quarter interest rates are in effect from October 1 to December 31, 2010. The rates will apply to any monetary amounts owed to CRA and to any monetary amounts that CRA owes to individuals and corporations.
The new income tax interest rates are as follows:
§ Overdue taxes, Canada Pension Plan (CPP) contributions, and Employment Insurance Premiums will be 5%.
§ Overpayment for personal taxpayers is 3% and 1% for corporate taxpayers.
§ Taxable benefits for employees and shareholders from interest-free and low-interest loans will be 1%.
For tax and duty interest rates vist CRA’s website