CRA prescribed rate drops to 1% for Q3

CRA prescribed rate drops to 1% for Q3

The CRA prescribed rate falls by 1% for the third quarter of 2020


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The CRA prescribed income tax interest rates for taxable benefits, overpaid taxes and underpaid taxes will all drop by 1% for the third quarter of 2020 (July 1, 2020 – September 30, 2020).

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Information is current to May 5, 2020. The information contained in this publication is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's National Tax Centre at 416.777.8500

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