Canada — Manitoba Regulation

Canada — Manitoba legislation

Interest Rate Regulation, 2012

This regulation sets how interest is calculated for certain tax debts and other amounts owing to government, including the applicable rate, compounding rules, repeal of an older regulation, and the start date.

interest ratestax administration

Jurisdiction: Canada — Manitoba
Structure: 1 provisions
Official identity: Year 2012
Dates: Enacted 2012

More statute details

Dates: Enacted 2012

On this page

Professional statute overview

Enactment structure, operative effect and source provenance

Official source

Purpose and legislative effect

“This regulation sets how interest is calculated for certain tax debts and other amounts owing to government, including the applicable rate, compounding rules, repeal of an older regulation, and the start date.”

Use this record to locate individual provisions, understand the instrument’s recorded structure, and move from a research summary to the exact source text.

How the instrument operates

01
Start with the recorded version

Enacted 2012. The date shown identifies this source expression and should not be treated as proof that no later change exists.
02
Locate the controlling provision

Use the provision map, part headings and full-text filter to move from the broad subject to the exact legal language.
03
Read conditions and exceptions together

Keep subsections, definitions, provisos and cross-references in context before drawing a legal conclusion.
04
Verify currency and official wording

Confirm later legislation, commencement notices and corrections with the official publisher before advice, filing or reliance.

Research entry points

Selected provisions across the instrument. Open any row to continue with the exact stored text.

Interest Rate Regulation

Document — Interest Rate Regulation

Source and current-law status

Source record view

Source record from web2.gov.mb.ca · Enacted 2012

Verify current force

The source record does not state a definitive current-law status. Check the official publisher and later amendments before relying on this text.

For advice, pleadings, or compliance decisions, retain the official source and confirm the current consolidated provision.

Official record

Source-indexed provision map

Sections and provisions

Search by section, heading, part or exact legal wording. Every result remains linked to the stored source record.

Search within this statute

Search all stored provisions in this version.

Showing 1 of 1 provisions

Repeal

§ —Interest Rate RegulationRepeal

Interest Rate Regulation, M.R. 85/2012 The Financial Administration Act , C.C.S.M. c. F55 Regulation 85/2012 Registered June 28, 2012 bilingual version (HTML) Table of Contents Section 1 "Prime" defined 2 Prescribed rate for certain debts 3 Compounding 4 Interest on other amount owing 5 Repeal 6 Coming into force "Prime" defined 1 In this regulation, "prime" means (a) for the period from January 1 to June 30 of any year, the prime lending rate, expressed as a percentage, of the Royal Bank of Canada as it stood on January 1 of that year; and (b) for the period from July 1 to December 31 of any year, the prime lending rate, expressed as a percentage, of the Royal Bank of Canada as it stood on July 1 of that year. Prescribed rate for certain debts 2 Interest payable under subsection 38(1) of The Tax Administration and Miscellaneous Taxes Act or subsection 5.6(4) of The Income Tax Act accrues from time to time at the applicable annual rate or rates for the different periods set out in the following table: Year Jan. 1 to June 30 July 1 to Dec. 31 before 2002 prime + 2% prime + 2% 2002 prime + 2% prime + 4% after 2002 and before 2012 prime + 4% prime + 4% 2012 prime + 4% prime + 6% after 2012 and before 2020 prime + 6% prime + 6% 2020 prime + 5% prime + 5% 2021 prime + 4% prime + 4% after 2021 prime + 3% prime + 3% Compounding 3(1) The interest payable under subsection 38(1) of The Tax Administration and Miscellaneous Taxes Act in respect of a tax debt as defined in that Act is to be compounded monthly. 3(2) The interest payable on a debt under subsection 5.6(4) of The Income Tax Act is to be compounded annually. Interest on other amount owing 4 In the case of an amount owing to the government, other than under any provision listed in section 2 or under any other provision or agreement that provides for a different rate of interest, interest is payable on the amount at the following annual rates: (a) for a period from January 1 to June 30 of any year, prime plus 2%; (b) for a period from July 1 to December 31 of any year, prime plus 2%. Repeal 5 The Interest Rate Regulation , Manitoba Regulation 107/2002, is repealed. Coming into force 6(1) This regulation comes into force on July 1, 2012. 6(2) Section 3 is effective for all periods commencing after June 30, 2002.

Document — Interest Rate RegulationVerify source

Legislative relationships

1 referenced instrument

Names are derived from the stored provision headings and citation-enrichment layer. Treat this as a research index and verify each relationship against the source text.

T–Z

1 instrument

Tax Administration and Miscellaneous Taxes Act
Section Document — Interest Rate Regulation

Recorded versions and source checkpoint

1 version available in this collection

Current-law checkpoint

Undated version · currentEnglish

This relationship view does not by itself establish whether another instrument remains in force.

Check official source

Source-linked research

Ask AI about this statute

The overview, provisions, and source records above are public. Continue in a separate conversation with this statute’s jurisdiction and source version attached.