December 22, 2023

The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the Agency for the first quarter of 2024, as well as the rates that will apply for the purpose of calculating employee and shareholder taxable benefits.

                                      Debit rate          Credit rate       Shareholder Benefits

January 1 – March 31          10%                 6%/8%                    6%

Additional details of interest rates charged and paid by the CRA can be found on the Agency’s website at Interest rates for the first calendar quarter – Canada.ca.