CRA is keeping the prescribed annual interest rate at 1% for the rest of 2015.
Canadians of all ages increased their debts by 2.3% in the last three months of 2014, raising total average indebtedness to $21,428.
How should this advisor help two first-time business owners?
You must maintain an arm’s-length relationship to protect you and your client from impropriety.
The Bank of England’s Financial Policy Committee (FPC) will soon have the power to force banks to adopt lending practices aimed at preventing an overheated housing market, reports the BBC.
Tips on what to do
Floating-rate loans can protect clients from rising interest rates.
Interest rate hikes won’t impact floating-rate loans.
If you missed the deadline to get clients into income splitting loans before the prescribed rate doubled to 2% from 1% last month, you’ve lucked out.
Tax experts say CRA's 1% prescribed interest rate won't last much longer.