Canada: Payments of interest on family income-splitting loans

Canada: Interest on family income-splitting loans

Payments of interest on family income-splitting loans for 2020 are due 30 January 2021.

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Individuals with any family income-splitting loans need to determine that the 2020 interest amounts on these loans is paid to lenders by 30 January 2021 to avoid having the attribution rules apply to investment income earned on the borrowed funds.
 

Read a January 2021 report prepared by the KPMG member firm in Canada

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