The Canada Revenue Agency has announced the 2010 third quarter prescribed interest rate used to calculate taxable benefits for employees and shareholders for interest-free and low interest loans would be 1%. With this the lowest historical prescribed rate ever, it is an opportune time for taxpayers to reduce the tax bite through an income-splitting structure using loans.
A Nice Gift to Give to your Spouse… a Loan
By Corina WeiglcloseAuthor: Corina Weigl
Name: Corina Weigl
Email: cweigl@fasken.com
Site: https://www.fasken.com
About: Corina Weigl is a partner in the Trusts, Wills, Estates and Charities group at Fasken, a leading international law firm with over 650 lawyers and 9 offices worldwide that offers comprehensive estate planning, estate administration, personal tax planning, charitable giving and estate litigation services. Email: cweigl@fasken.comSee Authors Posts (104) • September 13, 2010
Email: cweigl@fasken.com
Site: https://www.fasken.com
About: Corina Weigl is a partner in the Trusts, Wills, Estates and Charities group at Fasken, a leading international law firm with over 650 lawyers and 9 offices worldwide that offers comprehensive estate planning, estate administration, personal tax planning, charitable giving and estate litigation services. Email: cweigl@fasken.comSee Authors Posts (104) • September 13, 2010