CRA prescribed rate

January 2023 – January 30^th is the deadline to pay any annual interest due on a prescribed rate loan outstanding in the prior year. This is important because many active prescribed-rate loans were created when interest rates were much lower than they are now. Having your strategy compromised today because of a failure to pay interest by Jan. 30 and perhaps having to collapse your original arrangement and establish a new arrangement based on a much higher prescribed rate could have significant consequences.