The current 1% interest rate, which has remained at its lowest possible level since July 1, 2020, provides a great opportunity to enter into income-splitting loan arrangements with family members. Similarly, employees who have entered into qualifying home purchase loans with their employers may have a unique tax planning opportunity to reduce the related taxable benefit.
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KPMG in Canada provides the latest Canadian tax news and international tax news for you and your business
KPMG in Canada provides the latest Canadian and international tax news for your business