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.
About Expert Fiscaliste
Expert Fiscaliste provides Canadian and international income tax preparation and consulting services to individuals, businesses, and trusts.
If you want to take advantage of our services for your 2018 Tax Return. Give us a call at 514-954-9031, or visit our Contact Tax Experts page.
