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New Annual Interest Rates

Applies To Any Amounts Owed To The CRA

Date: July 2017

Today, the recommended yearly interest rates that will apply to any sums owed to the CRA and to any sums owed by the CRA to people and enterprises was reported by the Canada income Agency (CRA). From July 1, 2017, to September 30, 2017, these rates will be in effect.

The recommended interest rates since last quarter had not experienced any significant change, the interest rate for corporate taxpayers’ pertinent loan or indebtedness excepted.

Income tax

  • 1% interest rate used to calculate taxable advantages for workers and investors from interest-free and low-interest loans.
  • Canada pension plan commitments, interest rate charged on past due taxes and employment insurance premiums will be 5%.
  • 1% interest rate to be paid on corporate taxpayer overpayment.
  • 3% interest rate to be paid on non-corporate taxpayer overpayment.
  • Change: 4.55% will be the interest rate for corporate taxpayers' pertinent loans or indebtedness.

Different Taxes, Duties, or Charges

The following will be the interest rates on past due and overpaid settlements:

Tax, duty, or other charges Overdue remittances Overpaid remittances – Corporate taxpayers Overpaid remittances – Non- corporate taxpayers
Goods and services tax (GST) 5% 1% 3%
Harmonized sales tax (HST) 5% 1% 3%
Air travellers security charge 5% 1% 3%
Excise tax (non-GST/HST) 5% 1% 3%
Excise duty except brewer licensees (amounts due after June 30, 2003) 5% 1% 3%
Excise duty except brewer licensees (amounts due before July 1, 2003) 3% N/A N/A
Excise duty (brewer licensees) 3% N/A N/A
Softwood lumber products export charge 5% 1% 3%

The overdue remittance rate is the rate of interest the taxpayer must pay on amounts due to the CRA.

The overpaid remittance rate is the rate of interest the CRA must pay on amounts due to the taxpayer.

Quick facts

  • Yearly loan fees prescribed are ascertained quarterly as indicated by the laws that apply.
  • Go to for information on the recommended financing costs for other calendar quarters.