June 2, 2022 · 

The government’s prescribed interest rate for spousal loans will increase to 2% on July 1st.  For individuals considering a spousal loan, you may wish to set up the loan before the rate increase to benefit from the current lower rate of 1%. Individuals may want to contact their advisors to determine whether it makes sense to set up a loan. Consultation should be given to potential tax consequences. 

Clients of E.E.S., please contact your consultant for further discussion.

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