The prescribed leasing interest rate mandated by the Canada Revenue Agency must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the prescribed interest rate for leasing for the month of January 2023 will be 4.02%.
The CRA’s instructions on how to calculate the prescribed interest rate for leasing, which includes a link to the necessary bond yield information, can be found at How to calculate Prescribed Interest Rates for Leasing Rules – Canada.ca.
If you would like help with dealing with the CRA or would like to know more about taxable benefits, please feel free to call us at (905) 305-9722 or email us at info@eigenmachtcrackower.com and we will help you out!
