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What is the interest rate on overdue taxes in the 1st calendar quarter of 2012?

By
Industry Observer

What is the interest rate on overdue taxes in the 1st calendar quarter of 2012?

The interest rate charged by Canada Revenue Agency on overdue taxes, Canada Pension Plan contributions and Employment Insurance premiums for the first calendar quarter of 2012 is 5%. This calendar quarter covers the period January 1, 2012 to March 31, 2012.

The interest rate for the second quarter of 2012 will be announced by Canada Revenue Agency during the first two weeks of March 2012.

Interest rates are adjusted quarterly based on rules contained within federal legislation.

What is the interest rate on overdue taxes in the 1st calendar quarter of 2012?

Comments(3)

Lori Gardiner
RE/MAX River's Edge - Bristol, RI
GRI, SRS, ABR, e-PRO

Hi Marc,

Great post and info.  Thanks for sharing. Have a great weekend.

Dec 16, 2011 02:04 AM
Chris Smith
Re/Max Chay Realty Inc., Brokerage - New Tecumseth, ON
South Simcoe, Caledon, King, Orangeville Real Esta

Marc, this is information that many people do not know, thanks for sharing it with us.

Dec 18, 2011 03:27 AM
FN LN
Toronto, ON

Hi Lori - This info helps people plan their finances.

Hi Chris - I have been doing this post quarterly for quite a while since I track such interest rates.  It is very useful when doing various analyses.

Dec 18, 2011 02:47 PM