A Financial Opportunity To Kick-Start Your Summer; Family Income Splitting Loans At A New, Low Prescribed Rate
This post was contributed to by Corina Weigl, Maureen Berry, Kathryn Walker, and Tamar Silverbrook, of Fasken. If you have a family member who is in a lower tax bracket than yourself, an upcoming change in the Canada Revenue Agency’s (“CRA”) prescribed interest rate will create a financial opportunity. Effective July 1st, 2020, the prescribed interest rate will drop to 1% , increasing the tax advantages available through the utilization….


