It was announced by the Canada Revenue Agency (CRA) that tax-related interest rates for taxable credits and for tax overpayment and underpayments for the third quarter of 2013 (July 1- September 30) will remain unchanged for this year and the rates are:
- For taxable benefits (e.g., interest-free and low-interest loans for employees and shareholders) – 1%
- For corporate taxpayers for refunds of overpaid tax – 1%
- For non-corporate taxpayers for refunds of overpaid tax- 3%
- For underpayments of tax- 5%.
