The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the Agency for the first quarter of 2025, as well as the rates that will apply for the purpose of calculating employee and shareholder taxable benefits.

                                         Debit rate      Credit rate       Shareholder Benefits

January 1 – March 31          8%                4%/6%                      4%

Additional details of interest rates charged and paid by the CRA can be found on the Agency’s website at https://www.canada.ca/en/revenue-agency/services/tax/prescribed-interest-rates/2025-q1.html.