I am currently renovating a home and paying for everything out of a LOC. I will then remortgage to pay off the LOC, and then rent the home out.
Now, Can I pay myself, out of the LOC for renovation work that I do, without creating issues with the CRA, and possible interest deductability issues?
I hope that makes sense...
Now, Can I pay myself, out of the LOC for renovation work that I do, without creating issues with the CRA, and possible interest deductability issues?
I hope that makes sense...