Pay off the non-deductible mortgage
Is your mortgage killing you softly? A $300,000 mortgage at 4.0% over 25 years will set you back about $173,000 in interest costs. That $300,000 will end up costing you over $473,000. And that’s after-tax income, which means you’ll have to earn about $675,000 to pay off your home if you’re at the 30% tax bracket. 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 expensive, non-deductible mortgage faster, and you’ll see it melt away many years sooner than you imagined possible. It stands to reason: if you are going to have mortgage debt, why not make it tax deductible? The Smith Manoeuvre shows you how.
In a nutshell, The Smith Manoeuvre employs refined and proven debt conversion techniques to transform mortgage interest into tax deductions. The method has a remarkable snowball effect that generates large and growing annual tax refunds, and enables the homeowner to knock years off the life of a non-deductible mortgage and build an impressive financial portfolio at the same time. It is the most efficient way for families to raise the resources they need to secure both their house and income in retirement. The Smith Manoeuvre uses the legal tools of the CRA and Canadian Financial institutions. It has been reviewed by Revenue Canada staff, and endorsed by respected financial experts and economists, investment planners, and lenders.
Start reducing your non-deductible debt now!