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Today: 17.01.2018 - 14:53:48
   Canada Mortgage Hub Discussion Board -> Mortgage Winnipeg -> Main house in Canada, is the mortgage interest deductible?
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prkush

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Main house in Canada, is the mortgage interest deductible?
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Canadian housing and mortgage corporation
Post # 1.

playdirt

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Yes, if it's your primary residence you can deduct the mortgage interest on your US return, even though the property is outside the US.
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Post # 2.

para1000

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If you are referring to Canadian tax, no. In Canada capital gains on your primary residence are exempt from tax, but not mortgage interest. This gives Canadians the incentive to get their mortgage paid off asap unless they are renting the home to someone else.
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Burlington mortgage broker
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papi130

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Yes it is. However, you should talk to a professional as there could be a requirement for you to withhold 30% of the payment and then the bank would have to claim this back from the government. As no bank would want to do this, they would just increase your payment by enough to cover the withholding, which you would not want. So, talk to an expert first.
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