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Are Mortgages Tax Deductible in Canada?

By Nola
Edited by Admin
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Are Mortgages Tax Deductible in Canada?
Are Mortgages Tax Deductible in Canada?
 

I don’t know if this question is something I can be asking you guys, but I was just curious about mortgages and whether or not they could be considered a tax deductible?


This is just something I heard one of my friend’s mention and I thought I would ask.


Thank you.


Answers

By Canadalend
Hello Nola,
 
Thank you for your question.
 

No mortgages cannot be considered as a tax deductible, the only way it can be is if you refinance your home, and use that money not to pay off loans, but to invest to make money.

 

If you are borrowing money to make money it can be used for tax deductibles, otherwise it is not.

 
Do you have any other questions regarding mortgages and the loan services we provide?
 
Have a look at what else Canadalend has to offer:
 
Canadalend Mortgage Solutions
 
 Canadalend Contact us
5 comments
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Level 7 (XP: 2900)
interesting question thanks for the helpful response
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last year
Interesting question, thanks for submitting

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