Canada Revenue Agency prescribed interest rates for the third calendar quarter of 2022

The Canada Revenue Agency (CRA) has announced that the prescribed interest rate will be two per cent (2%) and will be used to calculate the following:

  • Any amounts owed to the CRA
  • Any amounts owed by the CRA to individuals and corporations
  • Taxable benefits for employees and shareholders from interest-free and low-interest loans.

This rate will be in effect from July 1, 2022, to September 30, 2022.

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