Prescribed Interest Rates Unchanged for First Quarter 2011

The interest rate charged on overdue taxes, Canada Pension Plan contributions, and Employment Insurance premiums will remain at 5% for the first quarter of 2011, while the rate paid on taxpayer overpayments on corporate returns will be 1% and non-corporate returns 3%. The interest rate used to calculate taxable benefits for employees and shareholders from interest-free and low-interest loans will be 1%.