beerbaron Posted August 27, 2011 Share Posted August 27, 2011 I am currently in the process of refinancing my house and a large chunk of money is going to get into my bank account. If I invest this chunk of money in say bonds, can I deduct the interests I pay on the mortgage from the bond income? BeerBaron Link to comment Share on other sites More sharing options...
finetrader Posted August 27, 2011 Share Posted August 27, 2011 if interest incurred is from a capital that is used to earn a revenue (or capital gain) then it is tax deductable. A friend of mine had this idea that if you have money invested outside a RRSP or TFSA, and you have a mortgage, you then take the money to pay the mortgage, then, you withdraw the money through a HELOC, and invest it back. It is a way to deduct interest from your mortgage in Canada. Link to comment Share on other sites More sharing options...
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