May 12, 2009
I wouldn’t say its “new” but these techniques have only been used to make the rich, richer. It is a method of designing your finances that extends the remarkable benefits of debt conversion to almost anyone with a mortgage. Wealthier Canadians commonly employ expensive tax accountants and tax lawyers to replace their non-tax deductible loans (houses, vehicles) with investment loans. Strategies have improved upon those methods. Even more importantly, the mortgage industry has opened up products to allow these strategies to be more common and introduce a new procedure that enables the rest of us to convert our non-deductible mortgage to a tax-deductible loan.