Quote:
Originally Posted by Reaper
In Manitoba one can claim rent paid as a tax deduction. Personally, I'd love it if I could claim my mortgage interest as a tax deduction but then we'd be in the same situation as the US with an artificially propped up economy.
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Yeah, as harsh as our tax rules seem to be....it probably does force an average person to do a better job of wealth building as most people just make the payments on their house and contribute to RRSP's to get a tax break. Those who think of ways around this to get tax breaks generally know what they're doing and are good at wealth building/creating themselves. Tends to reign in people from running too far out of control with how they spend, and not save anything.