Quote:
Originally Posted by kunkstyle
However one thing I do wish is that mortgage interest was tax deducatble like the US.
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I believe in the US, mortgage interest is deductible, but the gain on the sale of your house is taxable. In Canada, mortgage interest is not deductible, but the gain on the sale of your house isn't taxed either.
I like our system better, and that's before considering the effect of mortgage interest destructibility on housing bubbles.