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Keyword: Spousal loans

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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

Time to lock in spousal/family loans

Henry Korenblum, tax specialist at Crowe Soberman LLP in Toronto, discuss the value of locking in spousal/family loans before the interest rate on these loans doubles on Oct. 1st, 2013. Korenblum spoke at the TMX Broadcast Centre in Toronto.

The CRA indicates it will likely raise the rate on prescribed loans to 2%

Clients could lose out on a key income-splitting technique if the interest is not paid by the end of January

  • By: Regan Ray
  • June 3, 2008 June 3, 2008
  • 09:22

Beware of interest payment dates, Golombek says

  • By: Regan Ray
  • May 7, 2008 December 14, 2017
  • 11:30

The Canada Revenue Agency is raising its “prescribed interest rates” for the first time since the fall of 2003. The rate used to calculate low-interest spousal loans will rise to 4% from 3% in the next quarter, starting on April 1.Spousal loans –- a common income-splitting technique –- can provide significant tax savings. While arranging […]