- Default settings – Federal
This section allows you to define the default settings to be applied in Form Interest and Late-Filing Penalty (Jump Code: INTEREST). - Rates – Federal
The interest rate prescribed by the CRA might change every three months. This rate is updated in the program every time a new version is released. However, you can verify the prescribed rate in effect at the following address and update it in your profile:
https://www.canada.ca/en/revenue-agency/services/tax/prescribed-interest-rates.html.
- Default settings – Québec
This section allows you to define the default settings to be applied in Form Interest and Late-Filing Penalty – Québec (Jump Code: QINTEREST).
- Rates – Québec
The interest rate prescribed by Revenu Québec might change every three months. This rate is updated in the program every time a new version is released. However, you can verify the prescribed rate in effect at the following address and update it in your profile:
https://www.revenuquebec.ca/en/fair-for-all/ensuring-tax-compliance/penalties-and-interest/interest-rates-on-debts/.