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Answer the following question: For housing loans, if interest rate on an employee loan is < prescribed rate the difference between the prescribed rate and

Answer the following question:

For housing loans, if interest rate on an employee loan is < prescribed rate the difference between the prescribed rate and the actual rate is considered a taxable benefit.

If the interest rate on the employee loan is > prescribed rate would it not be a taxable benefit? Follow CRA/Canada rules. Explain.

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