/  107

Jan. to Mar.

Apr. to Jun.Jul. to Sept.Oct. to Dec.

(Q1)

(Q2)

(Q3)

(Q4)

Federal

2

Base rate

1.0

1.0

1.0

2.0

Tax debts

5.0

5.0

5.0

6.0

Tax refunds – corporations

1.0

1.0

1.0

2.0

Tax refunds – other taxpayers

3.0

3.0

3.0

4.0

Alberta

3

Tax debts

4.5

4.5

4.5

5.5

Tax refunds

0.5

0.5

0.5

1.0

Ontario

4

Tax debts

6.0

6.0

6.0

6.0

Tax refunds

0.0

0.0

0.0

0.0

Québec

5

Tax debts

6.0

6.0

6.0

6.0

Tax refunds

1.3

1.3

1.25

1.25

Notes, continued

(3)  The Alberta rates indicated in the table apply to corporate income taxes. The rate for tax 

refunds also applies to all assessments and reassessments of any taxation year, including 

all prior years, issued after February 9, 2010.

(4)  The Ontario rates indicated in the table apply only to tax debts and refunds arising from 

taxation years that ended before 2009.  Interest on Ontario underpaid and overpaid taxes 

for taxation years after 2008 (when Ontario harmonized its corporate tax system) is 

calculated based on the federal prescribed rates.

(5)  The Québec rates indicated in the table apply to personal income taxes, as well as 

corporate income and capital taxes. Québec also charges an additional 10% per year on 

underpaid instalments if less than 75% of the required amount (90% for corporations) is 

paid.

Prescribed Interest Rates—2013

1

TBA = To be announced

Current as of September 30, 2013

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