Archive for the ‘Loans’ Category

Why Being Late With a Designation is Not so Good

Tuesday, March 25th, 2014

In certain circumstances, the Income Tax Act allows a trust to designate a portion of its net taxable capital gains as a taxable capital gain in the hands of a beneficiary of the trust. This allows the benficiary to use their available capital gain exemption to shelter the ...

Prescribed rates: What goes up sometimes does come down

Monday, November 11th, 2013

In September, my fellow bloggers and I sent our warnings that the prescribed rate for income splitting loans and similar family planning arrangements was about to double from 2% to 1%, and it did on October 1. Well, if you missed the deadline to complete these arrangements before the prescribed rate ...

Last Call on Low Prescribed Rates

Friday, August 23rd, 2013

Much of the focus on the predicted October 1, 2013 increase in the prescribed lending rate has been on family income splitting loans with good reason. My blog will focus on another opportunity driven by the prescribed lending rate and home purchase loans. To recap, the current prescribed rate is ...