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Stacking cubes

The increase represents the fourth consecutive quarter that the rate has climbed

Financial or investment time counting with hourglass or sandglass and stack of coins on wooden table with white background.

Clients who miss interest payment deadline risk losing an income-splitting opportunity

The Canada Revenue Agency sign outside the National Headquarters at the Connaught Building in Ottawa is seen on Monday, March 1, 2021. CRA Tax

Rate to rise for the third consecutive quarter

Piggy bank lifted up into sky by inflated balloon

Clients have until Sept. 30 to lock in the 2% family loan rate

  • By: Staff
  • September 23, 2022 September 23, 2022
  • 10:34
cheque with pen for business concept

As rates rise, opportunity to achieve tax savings via a family loan strategy narrows

Hands Giving & Receiving Money

Now is the time to lock in 1% prescribed rate on family loans, achieve income splitting opportunity

Laurentian Bank of Canada reported first-quarter revenue of $257.5 million

Business and financial district in a city with pillars

With this announcement, three of the Big Six now have specialized lending programs

CIBC building downtown Toronto

In its first two weeks the program has attracted more than 600 inquiries

Tired african american employee having headache after working on laptop in office, copy space

Business owners worry about paying off Covid debt