Calgarypuck Forums - The Unofficial Calgary Flames Fan Community - View Single Post - Re-Financing your $Property

V · 06-23-2006, 02:06 PM

As far as I know, the interest you pay on any money you borrow to invest is tax deductible. Doesn't matter if it's for RRSPs or a second property or what.

So instead of waiting to horde enough money so that I can put a downpayment on a second house, I borrow the money and the interest on that money is tax-deductible. It's a great system. I guess the lousy thing is that as of right now I have 400K worth of debt. It's all making me money, but I suppose it's a little scary if you're averse to debt.

06-23-2006, 02:06 PM	#9
V Franchise Player Join Date: Feb 2005 Exp:	As far as I know, the interest you pay on any money you borrow to invest is tax deductible. Doesn't matter if it's for RRSPs or a second property or what. So instead of waiting to horde enough money so that I can put a downpayment on a second house, I borrow the money and the interest on that money is tax-deductible. It's a great system. I guess the lousy thing is that as of right now I have 400K worth of debt. It's all making me money, but I suppose it's a little scary if you're averse to debt.