The prescribed rate will be 3% in the fourth quarter of 2026, based on Government of Canada three-month Treasury Bill yields in July. This will be the sixth quarter in a row in which the prescribed rate is at that level. Before the third quarter of 2025, the prescribed rate hadn’t been as low as 3% since the final quarter of 2022. As the average of those two yields is also 2.29%, the prescribed rate will be 3% for the fourth quarter of 2026. The rate that the Canada Revenue Agency charges on overdue tax is set four percentage points higher than the prescribed rate.