CRA updates spousal loan rate

CRA is keeping the prescribed annual interest rate at 1% for the rest of 2015.

That means families using spousal loans to income split and save tax may continue to employ the strategy.

The rate has been at 1% since January 1, 2014, when CRA lowered it from 2%.

For the full schedule of rates, see this CRA fact sheet.

Read:

• 4 year-end tax tips from Golombek
• Save tax with family loans
• Take advantage of spousal loans now

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The staff of Advisor.ca have been covering news for financial advisors since 1998.