Presenter: Rose Shawlee, Associate Counsel
Harper Grey, LLP, Vancouver
Prescribed Rate Lending is an income splitting tool for family units, which hinges on one family member or a trust (the Borrower) borrowing money from another family member (the Lender).
The Borrower must pay the lender interest at the rate set by the federal government in the quarter the loan is made- the “prescribed” rate. The lower the interest rate, the more benefit to the family unit. The prescribed interest rate goes down to 1% on July 1, 2020.
This 30 minute Quick Start online presentation is appropriate for all levels of Estate Planners.
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