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10. March 2009 by Dan Walkow, CFA, CMT.
On March 4, 2009 the Canada Revenue Agency (CRA) announced that the prescribed interest rate used to calculate taxable benefits on low interest loans will be reduced from 2% to 1%, effective from April 1 to June 30, 2009. This announcement makes tax planning using income splitting loans an increasingly attractive opportunity.
Read more on how “income splitting” can save you a bundle of tax. Tax Strategies
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