Do you have the wrong kind of debt? The kind that is not tax deductible?
Most of us do. The wealthy have debt too. The difference is, they routinely turn their loans into "good debt" by making the interest tax deductible, with the help of expensive accountants and lawyers. So while the wealthy are transforming their house mortgage loans into free tax refunds, the rest of us are paying off huge amounts of mortgage interest with after-tax income. Until now.
THE SMITH MANOEUVRE has introduced a new, simple, and powerful method that extends those tax-saving benefits to the rest of Canadians. It is now easy for you and your financial planner to start turning your bad debt into good debt, right away.
Are you investing enough, soon enough? Most Canadians aren't. After ever-rising taxes and the cost of making ends meet, most of us don't
have the resources to put away 10% of our income and max out our RRSPs every year.
The benefits of compound interest, which are essential to our long-term financial well-being, remain elusive.
But there is a way to change that. It's done by transforming
mortgage interest into tax refunds. Next to winning the lottery, nothing improves
your cash flow more efficiently than the act of reducing your income tax - and doing it by making your
mortgage tax-deductible. THE SMITH MANOEUVRE is a remarkably efficient way for you and your family to raise large amounts of new
money, through free tax refunds, so that you can start building a larger nest egg, sooner.
Is your mortgage killing you softly? A $200,000
mortgage at 7% over 25 years will set you back about $220,000
in interest costs. That's after-tax income, which means you'll have to earn about $700,000 to pay off your home. No wonder it's difficult to save for the future.
But if you make it tax deductible using THE SMITH MANOEUVRE, you will recover a good chunk of that interest in the form of yearly tax refunds. Use the tax department's money to pay down your mortgage faster, and you'll see it melt away many years sooner than you imagined possible.
The Browns (see example) will cut their amortization period in half, paying off their
mortgage in just over 12 years.
The Blacks (see example) will pay off their mortgage in 8 years
instead of 25.
It stands to reason: if you are going to have mortgage debt, why not make it tax deductible? THE SMITH MANOEUVRE shows you how.
