Tax Alert Archives January 2020

Prescribed-rate loans or indebtedness generally refer to loans or indebtedness that meet the following statutory requirements to qualify for an exception to certain attribution rules in the Income Tax Act (Canada):

1. interest is charged on the loan or indebtedness

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On December 23, 2019, the BC Government issued Order in Council No. 723 (the “Order”).  Among other things, the Order establishes the Exemptions from Tax Regulation (the “Regulation”) and amends the Regulation to extend the exemption for properties subject to…