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Keyword: Spousal loans

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Couple getting financial advice

A late payment will thwart the income-splitting opportunity associated with the strategy

Tax reduction and deduction for businesses and individuals. Concept with hand turning knob to low taxation rate. Return form, exemptions, incentives.

The prescribed rate is set to rise in Q1 2024

Rate to rise for the fourth consecutive quarter

Inflation causing price rising up, overvalued stock or funds, consumer purchasing power reducing concept, air balloon tied with product price tag flying high rising up in the sky.

The increase represents the fourth consecutive quarter that the rate has climbed

Couple happily reviews their finances.

Clients who miss interest payment deadline risk losing an income-splitting opportunity

Portrait of young confident asian businessman with serious face sitting in modern office interior near big window, intelligent men entrepreneur in elegant suit thinking about something before meeting dream big business planning advisor

Beginning next month, the minimum rate that can be charged on such a loan will double

Couple getting financial retirement advice from consultant at home

Now is the time to lock in 1% prescribed rate on family loans, achieve income splitting opportunity

Filing a tax document online

Despite inflation, the prescribed rate on loans to family members remains set at 1%

  • By: IE Staff
  • March 15, 2022 March 15, 2022
  • 12:40
Businessman calculating and checking articles of agreemen

The prescribed rate dropped to 1% from 2% in July, sparking "enormous interest" in refinancing

Interest rate returning to 1% in January