CRA Interest rates in effect to June 30, 2016

The rates for interest charged by CRA for the 2nd quarter of 2016 are as follow:

Interest rates on Income tax

• The interest rate charged on overdue taxes, Canada Pension Plan contributions, and employment insurance premiums will be 5%.

• The interest rate to be paid on corporate taxpayer overpayments will be 1%.

• The interest rate to be paid on non-corporate taxpayer overpayments will be 3%

Interest rates on overdue and overpaid remittances are as follows:

Overdue Overpaid Overpaid

Corporate Non- corporate taxpayers taxpayers

Goods and services tax (GST) 5% 1% 3%

Harmonized sales tax (HST) 5% 1% 3%