CRA to charge 9% interest on overdue tax through second half of 2024
Prescribed rate for fourth quarter to match third-quarter rate
- By: Rudy Mezzetta
- July 31, 2024 July 31, 2024
- 10:52
Prescribed rate for fourth quarter to match third-quarter rate
Measure to be in place for 2026 renewals
Clients with significant capital gains in 2024 face uncertain tax exposure
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A company could face 60% tax on unintentional payout of excess amounts from its capital dividend account
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Actions may include taking payments from wages or bank accounts
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Insurer has been working to shed assets with a low return on equity
The measure proceeded despite significant pushback from business and physicians' groups
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