Canada: Prescribed rates of interest for income tax, PLOI purposes (third quarter 2021)
The prescribed interest rates for income tax and for pertinent loan or indebtedness purposes for the third quarter of 2021
Prescribed interest rates for income tax and PLOI purposes for the third quarter of 2021
The prescribed interest rates for income tax and for pertinent loan or indebtedness (PLOI) purposes for the third quarter of 2021 (1 July 2021 – 30 September 2021) reflect:
- No change to the prescribed income tax interest rate for taxable benefits, overpaid taxes, and underpaid taxes in the second quarter of 2021. The rate remains at 1%. Read a May 2021 report prepared by the KPMG member firm in Canada
- An increase to the prescribed interest quarterly rate that is used to determine the deemed interest income inclusion from a PLOI—the rate is estimated to increase to 4.10% (from 4.07%) for the third quarter of 2021. Read a May 2021 report prepared by the KPMG member firm in Canada
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