Liberty Tax Canada
6169 Quinpool Road B3L 4P8 Halifax, NS, Canada

Interest rates for the second calendar quarter March 19, 2021 Ottawa, Ontario... Canada Revenue Agency The Canada Revenue Agency (CRA) announced today the prescribed annual interest rates that will apply to any amounts owed to the CRA and to any amounts owed by the CRA to individuals and corporations. These rates will be in effect from April 1, 2021 to June 30, 2021. Income tax The interest rate charged on overdue taxes, Canada Pension Plan contributions, and employment insurance premiums will be 5%. The interest rate to be paid on corporate taxpayer overpayments will be 1%. The interest rate to be paid on non-corporate taxpayer overpayments will be 3%. The interest rate used to calculate taxable benefits for employees and shareholders from interestfree and low-interest loans will be 1%. The interest rate for corporate taxpayers' pertinent loans or indebtedness will be 4.07%. Other taxes, duties, or charges The interest rates on overdue and overpaid remittances will be as follows: Other taxes, duties, or charges Tax, duty, or other charges Overdue remittances Overpaid remittances Corporate taxpayers Overpaid remittances Non- corporate taxpayers Goods and services tax (GST) 5% 1% 3% Harmonized sales tax (HST) 5% 1% 3% Air travelers security charge 5% 1% 3% Fuel charge (under the Greenhouse Gas Pollution Pricing Act) 5% 1% 3% Excise tax (non-GST/HST) 5% 1% 3% Excise duty except brewer licensees (amounts due after June 30, 2003) 5% 1% 3% Excise duty except brewer licensees (amounts due before July 1, 2003) 3% N/A N/A Excise duty (brewer licensees) 3% N/A N/A Softwood lumber products export charge 5% 1% 3% The overdue remittance rate is the rate of interest the taxpayer must pay on amounts due to the CRA. The overpaid remittance rate is the rate of interest the CRA must pay on amounts due to the taxpayer. Quick facts Prescribed annual interest rates are calculated quarterly according to the laws that apply. For information on the prescribed interest rates for other calendar quarters, go to Prescribed interest rates.

Just like Peter Rabbit, time is hopping by. You can book your appointment by calling Gerri Liberty @ 902-420-9641, FB DM or email [email protected]. We are open 9 - 8 Monday - Friday & 9 - 5 on Saturday.

FIRST DAY OF SPRING 2021: THE SPRING EQUINOX In the Northern Hemisphere, the March equinox (aka spring equinox or vernal equinox) occurs when the Sun crosses th...e equator line, heading north. This event marks the start of spring in the northern half of the globe. After this date, the Northern Hemisphere begins to be tilted more toward the Sun, resulting in increasing daylight hours and warming temperatures. (In the Southern Hemisphere, it’s the opposite: the March equinox marks the start of autumn, as the Southern Hemisphere begins to be tilted away from the Sun.) WHAT HAPPENS ON THE MARCH EQUINOX? On the March equinox, the Sun crosses the celestial equator going south to north. It’s called the celestial equator because it’s an imaginary line in the sky above the Earth’s equator.

Judging by today there is a lion in our midst...... We are in the office and ready to do taxes. Drive safe everyone.

Liberty Tax offices are open for business, we’re accepting walk-ins, appointments and drop off services for all of your tax filing needs. To find out the steps we’re taking to continue to serve you or to connect with one of our offices please click the link below. https://www.libertytaxcanada.ca/to-our-clients/

CRA and Liberty Tax are both open and it’s time to claim your refund. Call now to schedule an appointment, or just come on in. www.libertytaxcanada.ca

I have been nominated as Alignable`s Halifax Small Businessperson of 2018. For any facebook votes, please add #alignable, so Alinable can process your post. Voting will remain open for the next 10 days, so please don’t delay.