Tax Interpretation Manual: Interest Rate under Various Statutes Regulation

Section 1 - Interest Rate On Amounts Due Under Certain Acts

IRUVSR - SEC.1/Int.

Interpretation (Issued: 2014/XX)

Effective April 1, 2013, B.C. Reg. 386/92 as amended by OIC 125/2013 provides under IRUVSR section 1 that the rate of interest under the Provincial Sales Tax Act is, during each successive 3 month period beginning on October 1, January 1, April 1 and July 1 in each year, commencing October 1, 1992, 3% above the prime lending rate of the principal banker to the Province on the 15th day of the month immediately preceding that 3 month period.

R.1 Interest Rates for Refunds (Revised: 2014/07)

Interest Rates for Refunds

Effective Dates

Interest Rates Per Year

Interest Rates Per Month

July 1, 2014-September 30, 2014

1.00%

.00084

April 1, 2014-June 31, 2014

1.00%

.00084

January 1, 2014-March 31, 2014

1.00%

.00084

October 1, 2013-December 31, 2013

1.00%

00084

July 1, 2013-September 30, 2013

1.00%

.00084

April 1, 2013-June 31, 2013

1.00%

.00084

January 1, 2013-March 31, 2013

1.00%

.00084

July 1, 2012 - September 30, 2012

1.00%

.00084

April 1, 2012-June 30, 2012

1.00%

.00084

January 1, 2012-March 31, 2012

1.00%

.00084

October 1, 2011 - December 31, 2011

1.00%

.00084

July 1, 2011 - September 30, 2011

1.00%

.00084

April 1, 2011 - June 30, 2011

1.00%

.00084

January 1, 2011 - March 31, 2011

1.00%

.00084

October 1, 2010 - December 30, 2010

1.00%

.00084

July, 1 2010 - September 30, 2010

0.50%

.00042

April 1, 2010 - June 30, 2010

0.25%

.00021

January 1, 2010 - March 31, 2010

0.25%

.00021

October 1 2009 - December 31 2009

0.25%

.00021

July 1, 2009 - September 30, 2009

0.25%

.00021

April 1, 2009 - June 30, 2009

0.50%

.00042

January 1, 2009 - March 31, 2009

1.50%

.00125

October 1, 2008 - December 31, 2008

2.75%

.00229

July 1, 2008 - September 30, 2008

2.75%

.00229

April 1, 2008 - June 30, 2008

3.25%

.00271

January 1, 2008 - March 31, 2008

4.00%

.00333

October 1, 2007 - December 31, 2007

4.25%

.00354

July 1, 2007 - September 30, 2007

4.00%

.00333

April 1, 2007 - June 30, 2007

4.00%

.00333

January 1, 2007 - March 31, 2007

4.00%

.00333

July 1, 2006 - September 30, 2006

4.00%

.00333

April 1, 2006 - June 30, 2006

3.50%

.00292

January 1, 2006 - March 31, 2006

3.00%

.00250

October 1, 2005 - December 31, 2005

2.50%

.00208

July 1, 2005 - September 30, 2005

2.25%

.00188

April 1, 2005 - June 30, 2005

2.25%

.00188

January 1, 2005 - March 31, 2005

2.25%

.00188

October 1, 2004 - December 31, 2004

2.00%

.00167

July 1, 2004 - September 30, 2004

1.75%

.00146

April 1, 2004 - June 30, 2004

2.00%

.00167

January 1, 2004 - March 31, 2004

2.50%

.00208

October 1, 2003 - December 31, 2003

2.50%

.00208

July 1, 2003 - September 30, 2003

3.00%

.00250

April 1, 2003 - June 30, 2003

2.75%

.00229

January 1, 2003 - March 31, 2003

2.50%

.00208

October 1, 2002 - December 31, 2002

2.50%

.00208

July 1, 2002 - September 30, 2002

2.25%

.00188

April 1, 2002 - June 30, 2002

1.75%

.00146

January 1, 2002 - March 31, 2002

2.00%

.00167

October 1, 2001 - December 31, 2001

3.75%

.00313

July 1, 2001 - September 30, 2001

4.25%

.00354

April 1, 2001 - June 30, 2001

4.75%

.00396

January 1, 2001 - March 31, 2001

5.50%

.00458

October 1, 2000 - December 31, 2000

5.50%

.00458

July 1, 2000 - September 30, 2000

5.50%

.00458

April 1, 2000 - June 30, 2000

4.75%

.00396

October 1, 1999 - December 31, 1999

4.25%

.00354

July 1, 1999 - September 30, 1999

4.25%

.00354

April 1, 1999 - June 30, 1999

4.75%

.00396

January 1, 1999 - March 31, 1999

4.75%

.00396

October 1, 1998 - December 31, 1998

5.50%

.00458

July 1, 1998 - September 30, 1998

4.50%

.00375

April 1, 1998 - June 30, 1998

4.50%

.00375

January 1, 1998 - March 31, 1998

4.00%

.00333

October 1, 1997 - December 31, 1997

2.75%

.00229

July 1, 1997 - September 30, 1997

2.75%

.00229

April 1, 1997 - June 30, 1997

2.75%

.00229

January 1, 1997 - March 31, 1997

2.75%

.00229

October 1, 1996 - December 31, 1996

3.75%

.00313

July 1, 1996 - September 30, 1996

4.50%

.00375

April 1, 1996 - June 30, 1996

5.00%

.00417

January 1, 1996 - March 31, 1996

5.75%

.00479

October 1, 1995 - December 31, 1995

6.00%

.00500

July 1, 1995 - September 30, 1995

6.75%

.00563

April 1, 1995 - June 30, 1995

7.75%

.00645

January 1, 1995 - March 31, 1995

6.00%

.00500

October 1, 1994 - December 31, 1994

5.00%

.00417

July 1, 1994 - September 30, 1994

5.25%

.00438

April 1, 1994 - June 30, 1994

3.50%

.00292

January 1, 1994 - March 30, 1994

3.50%

.00292

October 1, 1993 - December 31, 1993

3.75%

.00313

July 1, 1993 - September 30, 1993

4.00%

.00333

April 1, 1993 - June 30, 1993

4.25%

.00354

January 1, 1993 - March 31, 1993

6.25%

.00521

October 1, 1992 - December 31, 1992

4.25%

.00354

July 1, 1992 - September 30, 1992

5.25%

.00438

April 1, 1992 - June 30, 1992

6.25%

.00521

January 1, 1992 - March 31, 1992

6.00%

.00500

October 1, 1991 - December 31, 1991

7.50%

.00625

July 1, 1991 - September 30, 1991

7.75%

.00645

April 1, 1991 - June 30, 1991

9.25%

.00771

January 1, 1991 - March 31, 1991

11.25%

.00937

October 1, 1990 - December 31, 1990

12.25%

.01021

August 1, 1990 - September 30, 1990

12.75%

.01063

July 1, 1990 - July 31, 1990

12.25%

.01021

April 1, 1990 - June 30, 1990

12.25%

.01021

January 1, 1990 - March 31, 1990

11.50%

.00958

October 1, 1989 - December 31, 1989

11.50%

.00958

July 1, 1989 - September 30, 1989

11.50%

.00958

April 1, 1989 - June 30, 1989

10.75%

.00896

January 1, 1989 - March 31, 1989

10.25%

.00854

October 1, 1988 - December 31, 1988

9.25%

.00771

July 1, 1988 - September 30, 1988

8.75%

.00729

April 1, 1988 - June 30, 1988

7.75%

.00645

January 1, 1988 - March 31, 1988

7.75%

.00645

October 1, 1987 - December 31, 1987

8.00%

.00666

July 1, 1987 - September 30, 1987

7.50%

.00625

April 1, 1987 - June 30, 1987

6.75%

.00563

January 1, 1987 - March 31, 1987

7.75%

.00645

October 1, 1986 - December 31, 1986

7.75%

.00645

July 1, 1986 - September 30, 1986

8.25%

.00687

April 1, 1986 - June 30, 1986

10.50%

.00875

January 1, 1986 - March 31, 1986

8.00%

.00666

October 1, 1985 - December 31, 1985

8.25%

.00687

July 1, 1985 - September 30, 1985

8.50%

.00708

January 1, 1985 - June 30, 1985

9.75%

.00812

October 1, 1984 - December 31, 1984

11.00%

.00916

July 1, 1984 - September 30, 1984

10.00%

.00833

July 1, 1983 - June 30, 1984

9.00%

.00750

May 1, 1983 - June 30, 1983

10.00%

.00833

February 1, 1983 - April 30, 1983

11.00%

.00916

November 1, 1982 - January 31, 1983

12.75%

.01062

August 1, 1982 - October 31, 1982

16.25%

.01354

May 1, 1982 - July 31, 1982

16.00%

.01333

February 1, 1982 - April 30, 1982

15.50%

.01291

November 1, 1981 - January 31, 1982

19.00%

.01583

August 1, 1981 - October 31, 1981

20.75%

.01729

February 1, 1981 - July 31, 1981

17.25%

.01437

August 1, 1980 - January 31, 1981

11.25%

.00937

R.2 Interest Rates for Receivables (Revised: 2014/07)

Interest Rates for Receivables

Effective Dates

Interest Rates Per Annum

Interest Rates Per Month

July 1, 2014-September 30, 2014

6.00%

.00500

April 1, 2014-June 31, 2014

6.00%

.00500

January 1, 2014-March 31, 2014

6.00%

.00500

October 1, 2013-December 31, 2013

6.00%

.00500

July 1, 2013-September 30, 2013

6.00%

.00500

April 1, 2013-June 31, 2013

6.00%

.00500

January 1, 2013-March 31, 2013

6.00%

.00500

July 1, 2012 - September 30, 2012

6.00%

.00500

April 1, 2012-June 30, 2012

6.00%

.00500

January 1, 2012-March 31, 2012

6.00%

.00500

October 1, 2011 - December 31, 2011

6.00%

.00500

July 1, 2011 - September 30, 2011

6.00%

.00500

April 1, 2011 - June 30, 2011

6.00%

.00500

January 1, 2011 - March 31, 2011

6.00%

.00500

October 1, 2010 - December 31, 2010

5.50%

.00458

July 1, 2010 - September 30, 2010

5.25%

.00438

April 1, 2010 - June 30, 2010

5.25%

.00438

January 1, 2010 - March 31, 2010

5.25%

.00438

October 1, 2009 - December 31, 2009

5.25%

.00438

July 1, 2009 - September 30, 2009

5.50%

.00458

April 1, 2009 - June 30, 2009

6.50%

.00542

January 1, 2009 - March 31, 2009

7.75%

.00646

October 1, 2008 - December 31, 2008

7.75%

.00646

July 1, 2008 - September 30, 2008

8.25%

.00687

April 1, 2008 - June 30, 2008

9.00%

.00750

January 1, 2008 - March 31, 2008

9.25%

.00771

October 1, 2007 - December 31, 2007

9.00%

.00750

July 1, 2007 - September 30, 2007

9.00%

.00750

April 1, 2007 - June 30, 2007

9.00%

.00750

January 1, 2007 - March 31, 2007

9.00%

.07500

July 1, 2006 - September 30, 2006

8.50%

.00708

April 1, 2006 - June 30, 2006

8.00%

.00666

January 1, 2006 - March 31, 2006

7.50%

.00625

October 1, 2005 - December 31, 2005

7.25%

.00604

July 1, 2005 - September 30, 2005

7.25%

.00604

April 1, 2005 - June 30, 2005

7.25%

.00604

January 1, 2005 - March 31, 2005

7.00%

.00583

October 1, 2004 - December 31, 2004

6.75%

.00563

July 1, 2004 - September 30, 2004

7.00%

.00583

April 1, 2004 - June 30, 2004

7.50%

.00625

January 1, 2004 - March 31, 2004

7.50%

.00625

October 1, 2003 - December 31, 2003

8.00%

.00666

July 1, 2003 - September 30, 2003

7.75%

.00646

April 1, 2003 - June 30, 2003

7.50%

.00625

January 1, 2003 - March 31, 2003

7.50%

.00625

October 1, 2002 - December 31, 2002

7.25%

.00604

July 1, 2002 - September 30, 2002

6.75%

.00563

April 1, 2002 - June 30, 2002

7.00%

.00583

January 1, 2002 - March 31, 2002

8.75%

.00729

October 1, 2001 - December 31, 2001

9.25%

.00771

July 1, 2001 - September 30, 2001

9.75%

.00813

April 1, 2001 - June 30, 2001

10.50%

.00875

January 1, 2001 - March 31, 2001

10.50%

.00875

October 1, 2000 - December 31, 2000

10.50%

.00875

July 1, 2000 - September 30, 2000

9.75%

.00813

April 1, 2000 - June 30, 2000

9.50%

.00792

January 1, 2000 - March 31, 2000

9.25%

.00771

October 1, 1999 - December 31, 1999

9.25%

.00771

July 1, 1999 - September 30, 1999

9.75%

.00813

April 1, 1999 - June 30, 1999

9.75%

.00813

January 1, 1999 - March 31, 1999

10.50%

.00875

October 1, 1998 - December 31, 1998

9.50%

.00792

July 1, 1998 - September 30, 1998

9.50%

.00792

April 1, 1998 - June 30, 1998

9.00%

.00750

January 1, 1998 - March 31, 1998

7.75%

.00646

October 1, 1997 - December 31, 1997

7.75%

.00646

July 1, 1997 - September 30, 1997

7.75%

.00646

April 1, 1997 - June 30, 1997

7.75%

.00646

January 1, 1997 - March 31, 1997

8.75%

.00729

October 1, 1996 - December 31, 1996

9.50%

.00792

July 1, 1996 - September 30, 1996

10.00%

.00833

April 1, 1996 - June 30, 1996

10.75%

.00896

January 1, 1996 - March 31, 1996

11.00%

.00917

October 1, 1995 - December 31, 1995

11.75%

.00979

July 1, 1995 - September 30, 1995

12.75%

.01063

April 1, 1995 - June 30, 1995

11.00%

.00917

January 1, 1995 - March 31, 1995

10.00%

.00833

October 1, 1994 - December 31, 1994

10.25%

.00854

July 1, 1994 - September 30, 1994

8.50%

.00708

April 1, 1994 - June 30, 1994

8.50%

.00708

January 1, 1994 - March 31, 1994

8.75%

.00729

October 1, 1993 - December 31, 1993

9.00%

.00750

July 1, 1993 - September 30, 1993

9.25%

.00771

April 1, 1993 - June 30, 1993

11.50%

.00958

January 1, 1993 - March 31, 1993

9.25%

.00771

October 1, 1992 - December 31, 1992

8.75%

.00729

July 1, 1992 - September 30, 1992

9.75%

.00813

April 1, 1992 - June 30, 1992

9.50%

.00792

January 1, 1992 - March 31, 1992

11.00%

.00917

October 1, 1991 - December 31, 1991

11.25%

.00937

July 1, 1991 - September 30, 1991

12.75%

.01063

April 1, 1991 - June 30, 1991

14.75%

.01229

January 1, 1991 - March 31, 1991

15.75%

.01313

October 1, 1990 - December 31, 1990

16.25%

.01354

August 1, 1990 - September 30, 1990

15.75%

.01313

July 1, 1990 - July 31, 1990

15.75%

.01313

April 1, 1990 - June 30, 1990

15.00%

.01250

January 1, 1990 - March 31, 1990

15.00%

.01250

October 1, 1989 - December 31, 1989

15.00%

.01250