Jim Flaherty says no to mortgage interest being tax deductab
Mathieu | Sunday, March 8th, 2009 | 1 Comment »Minister of Finance, Jim Flaherty said “No,” point blank to a question from a CBC National viewer regarding whether or not the federal Tories would ever consider making mortgage interest tax deductible. He also spoke of the new savings plan that allows Canadians to put away 00 tax free towards the purchase of a new house (or car or vacation or … whatever), this is different than the RRSP allowance that must be paid back.
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[...] making homeownership more affordable by making the interest paid tax deductible. Flaherty has previously said they wouldn’t do this because Canadians already enjoy tax savings on their principle [...]