Prescribed interest rates for the first half of 2019 -April 5, 2019

The Canada Revenue Agency has announced the interest rates which will apply to amounts owed to and by the Agency for the first half of 2019, as well as the rates that will apply for the purpose of calculating employee and shareholder taxable benefits.

Debit rate            Credit rate       Shareholder Benefits

January 1 – March 31             6%                   2% / 4%                    2%

April 1 – June 30                    6%                   2% / 4%                    2%

The credit rate of interest to be paid on overpayments of tax differs for individual and corporate taxpayers. The lower of the two credit rates shown is paid on corporate tax overpayments.

A listing of these and other interest rates for the first half of 2019 can be found on the Canada Revenue Agency website at https://www.canada.ca/en/revenue-agency/news/newsroom/tax-tips/tax-tips-2019/interest-rates-for-the-second-calendar-quarter.html.

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