KPMG estimates that the prescribed interest quarterly rate, which is used to determine the deemed interest income inclusion from a pertinent loan or indebtedness (PLOI), will increase to 4.17% (from 4.10%) for October 1, 2021 to December 31, 2021. This rate is generally the average yield of Government of Canada 90-day Treasury Bills sold during the first month of the preceding quarter (rounded to two decimal places) plus 4%.
Download this edition of TaxNewsNOW to learn more.
Information is current to August 9, 2021. The information contained in this publication is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's National Tax Centre at 416.777.8500