Canada Revenue Agency published prescribed interest rates for Q3 2024.
The interest rate used to calculate taxable benefits for employees and shareholders from interest free and low-interest loans will be 5%.
The interest rate charged on overdue taxes, Canada Pension Plan contributions, and employment insurance premiums will be 9%.
The interest rate to be paid on corporate taxpayer overpayments will be 5%.
For GST/HST remittances, the CRA listed a 7% overdue remittance rate, a 3% overpaid remittance rate for corporate taxpayers, and a 5% overpaid remittance rate for non-corporate taxpayers.