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Last updated: September 13 2011
CRA Announces Interest Rates for the 4th Quarter
The Canada Revenue Agency (CRA) announced the prescribed annual interest rates for the 4th quarter, which remain unchanged from all the previous quarters in 2011. Note that at a 1% prescribed rate, investors who wish to transfer capital to their spouses using a bona fide inter-spousal loan should consider making those plans now, to lock in those low rates for the life of the loan, particularly if they fear interest rates will rise in the future. The rates have held steady since the second quarter of 2009:
| 2009 | 2010 | 2011 |
|
Quarter |
1 |
2 |
3 |
4 |
1 |
2 |
3 |
4 |
1 |
2 |
3 |
4 |
|
Overdue Taxes |
6% |
5% |
5% |
5% |
5% |
5% |
5% |
5% |
5% |
5% |
5% |
5% |
|
CPP/EI Premiums |
3% |
5% |
5% |
5% |
5% |
5% |
5% |
5% |
5% |
5% |
5% |
5% |
|
Tax Overpayments |
4% |
3% |
3% |
3% |
3% |
3% |
3% |
3% |
3% |
3% |
3% |
3% |
|
Tax Overpayments
(Corporate) |
- |
- |
- |
- |
- |
- |
1% |
1% |
1% |
1% |
1% |
1% |
|
Taxable Benefits, Low
or No Interest Loans |
1% |
1% |
1% |
1% |
1% |
1% |
1% |
1% |
1%
|
1%
|
1% |
1% |
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