In what circumstances will the statutory rate of 1% go down to 0.5%?
Ontario, Canada
The following excerpt is from Canadian Soccer Association v. Hyundai Auto Canada Corp., 2011 ONSC 1864 (CanLII):
In this case, the rate varied from 3.3 per cent to one per cent and went down to 0.5 per cent for four quarters. Following Graham v. Rourke, supra, I find that the decline of the statutory rate from 3.3 per cent to one per cent is not a substantial one in the circumstances.
"The most advanced legal research software ever built."
The above passage should not be considered legal advice. Reliable answers to complex legal questions require comprehensive research memos. To learn more visit www.alexi.com.
Other Questions
In what circumstances will a tenant be evicted from a rental unit after the statutory statutory period has expired if they bring a moving van to the former rental unit during the statutory period? (Ontario, Canada)
Is there a statutory tort of statutory breach in Canada? (Ontario, Canada)
In what circumstances have costs been denied or substantially reduced because of the unsuccessful party's financial circumstances? (Ontario, Canada)
In what circumstances will a statutory process be used to challenge a claim made by a plaintiff? (Ontario, Canada)
Can an equalization regime be challenged where the circumstances relied upon as "unconscionable" have arisen merely from the application of a statutory scheme? (Ontario, Canada)
Can a statutory obligation to pay compensation for damages resulting from the exercise of a pipeline company’s statutory powers create a civil cause of action? (Ontario, Canada)
Does a material change in circumstances under what circumstances would have changed the terms of an order under which an order was made? (Ontario, Canada)
What is the statutory and presumptive range of the statutory interest rate for income tax purposes? (Ontario, Canada)
What is the test for determining if there are conditions for variation in circumstances where a change in circumstances is material rather than insignificant? (Ontario, Canada)
What is the test for determining if a change in circumstances is sufficient to cause a variation in the amount of time required for a change of circumstance? (Ontario, Canada)
