Canada: Prescribed rates of interest for income tax, PLOI purposes (first quarter 2023)
Increases to the prescribed rates
First quarter 2023
- An increase of 1% to the prescribed income tax interest rate for taxable benefits, overpaid taxes, and underpaid taxes for the first quarter of 2023. Read a November 2022 report [PDF 209 KB] prepared by the KPMG member firm in Canada
- An increase to the prescribed interest quarterly rate that is used to determine the deemed interest income inclusion from a PLOI—the rate is estimated to increase to 8% (from 6.45%) for the first quarter of 2023. Read a November 2022 report [PDF 204 KB] prepared by the KPMG member firm in Canada
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