Canada: Prescribed rates of interest for income tax, PLOI purposes (second quarter 2022)
Prescribed interest rates for income tax and for pertinent loan or indebtedness purposes for the second quarter of 2022
Prescribed interest rates for income tax and for PLOI purposes for the second quarter
The prescribed interest rates for income tax and for pertinent loan or indebtedness (PLOI) purposes for the second quarter of 2022 (1 April 2022 - 30 June 2022) reflect:
- No change to the prescribed income tax interest rate for taxable benefits, overpaid taxes, and underpaid taxes from the rate for the first quarter of 2022. The rate remains at 1%. Read a February 2022 report [PDF 209 KB] 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 4.38% (from 4.15%) for the second quarter of 2022. Read a February 2022 report [PDF 206 KB] prepared by the KPMG member firm in Canada
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