With the Bank of Canada and Fed raising rates at the fastest pace in decades, I'm seeing ripple effects across my clients' tax situations: prescribed interest rates for income splitting, deductibility of investment loans, and CRA interest charges on balances owing are all affected. Let me help you understand the impact.
I keep a close eye on developments like these so my clients don't have to. Tax law changes can significantly affect your filing strategy, and I believe the earlier you understand them, the better positioned you are to plan effectively.
Whether you file in Canada, the United States, or both, staying current on these changes is essential. In my cross-border practice, I've seen firsthand how policy shifts in one country can create unexpected obligations — or opportunities — in the other.
If you have questions about how this affects your specific situation, please don't hesitate to reach out. I'm here to help you navigate these changes and make the best decisions for your financial future.