By Stewart Lewis

(September 12 – 14:55 ET) – The Canada Customs and Revenue Agency has announced its interest rates for the fourth quarter of 2000. The rates apply to amounts owed to the CCRA, as well as amounts owed by the CCRA to individuals and corporations.

The rates are calculated quarterly. They will be in effect from October 1 to December 31, 2000.

The interest rate charged on overdue taxes, Canada Pension Plan contributions, and Employment Insurance Premiums will be 10%. The interest rate paid on overpayments will be 8%. The interest rate used to calculate taxable benefits for employees and shareholders from interest-free and low-interest loans will be 6%.