Jamie Golombek: Here’s what you should be doing in anticipation of the looming interest rate increase
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Interest rates continue to rise. As a result, this week the Department of Finance confirmed that the prescribed interest rate will rise to three per cent for the fourth quarter of 2022. This rate increase will have a variety of implications, both for taxpayers who owe money to the Canada Revenue Agency, and for those contemplating a prescribed-rate loan strategy to split investment income with a spouse, common-law partner or…