Tax Interpretation Manual: Interest Rate under Various Statutes Regulation
Last updated on February 2, 2024Section 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)
|
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)
|
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 |