The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) 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 November 2023 will be 4.93%.

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.

The information presented is only of a general nature, may omit many details and special rules, is current only as of its published date, and accordingly cannot be regarded as legal or tax advice. Please contact our office for more information on this subject and how it pertains to your specific tax or financial situation.