Prescribed interest rates for 2021

The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the CRA for the first three quarters of 2021, as well as the rates that will apply for the purpose of calculating employee and shareholder taxable benefits.

• Debit 5%
• Credit 1% / 3%
• Shareholder Benefits 1%

Additional details of interest rates charged and paid by the CRA can be found on the CRA website at https://www.canada.ca/en/revenue-agency/services/tax/prescribed-interest-rates.html.