The interest payment deadline on family income-splitting loans for 2014 is on 30th January 2015 given that the attribution rules not apply to investment income earned on the loans. The suggested interest rate for family loans continues at the lowest possible rate of 1% for the first quarter of 2015.
Related Posts
Canada: Alberta sues Federal Government over carbon tax exemption for heating oil
Alberta, Canada's leading oil-producing province, has sued the federal government over its carbon tax exemption for home heating oil, claiming the exemption is unconstitutional and unlawful. Premier Danielle Smith, leader of the United
Read MoreCanada: Nova Scotia lowers harmonised sales tax rate
The Department of Finance of Nova Scotia, Canada, announced that it lowered its harmonised sales tax (HST) rate, by 1%, to 14%. The new HST rate will go into effect on 1 April 2025. Nova Scotia’s HST combines the provincial value-added tax
Read MoreCanada eases surtax on Chinese imports
Canada’s Department of Finance announced new relief measures on 24 October 2024, allowing Canadian importers of Chinese steel, aluminium products, and EVs to request remission of surtaxes under certain conditions for a limited time. This
Read MoreCanada updates rules for paying non-residents for services
The Canada Revenue Agency (CRA) released an updated guide – T4A-NR – Payments to Non-Residents for Services Provided in Canada – for those who make payments to non-resident individuals, partnerships, or corporations for services rendered in
Read MoreCanada consults taxation of vacant lands
Canada’s government has initiated public consultations concerning the potential taxation of vacant residentially zoned land. Announced in the Budget 2024, this initiative aims to motivate private landowners to develop unused properties. The
Read MoreCanada to impose 25% surtax on Chinese steel and aluminium, 100% on EVs
Canada’s Deputy Prime Minister and Minister of Finance Chrystia Freeland, announced in a release the final list of Chinese-made steel and aluminium products and Chinese-made electric vehicles (EVs) subject to surtax on 1 October 2024. The
Read More