- Prescribed annual rate of interest from October 1, 2024 to December 31, 2024 is 9%
- Rate for amounts owed by Minister is 5% for corporate taxpayers and 7% for non-corporate taxpayers
- Rates apply to income tax, excise taxes, GST/HST, UHT, ATSC, luxury tax, fuel charge, and excise duties
- Excise duty on beer products has a 7% interest rate for overdue amounts
- Refund interest rates do not apply to excise duty on beer products
Source: canada.ca
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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