Quote:
Originally Posted by OilersBaby
so on the investment property, you can only deduct interest on the mortgage, but not the value of your mortgage (for the tax year)?
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If you're investing in 'investment' property in Canada then you will be able to deduct the mortgage interest.
However, mortgage interest on primary residence is only deductible for small businesses.
The ability for the average person to deduct their mortgage interest is a terrible idea and I hope is never adopted here.