July 1 – September 30, 2023 – Prescribed Interest Rates for Q3

by | Jun 6, 2023 | Industry Updates

CRA publishes prescribed interest rates each quarter. If you are in arrears to the government, for example, late in paying your income tax instalment, you will be charged interest. Visit Interest rates for the third calendar quarter – Canada.ca for the new Q3 (July 1 – September 30, 2023) rates.

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How to Keep the Family Cottage in the Family: Strategies to Incorporate Now to Reduce Capital Gains Tax When You’re no Longer Here

How to Keep the Family Cottage in the Family: Strategies to Incorporate Now to Reduce Capital Gains Tax When You’re no Longer Here

Many Canadians love their family cottage and expect to pass it on to the next generation. But the rising value in real estate can offer a real problem that may make it impossible for the legacy of the cottage to live on. As a secondary residence, capital gains tax kicks in and can be substantial, but there are ways to minimize the impact.