Variable Mortgage Interest and Taxes

N

navaz

0
Registered
#1
Nov 12, 2007
308
1
16
33
Burnaby BC
#1
REIN has been instrumental in moving us to Variable Rate Mortgages. With interest rates coming down, interest expense would come down and your profit would be up. The side effect of more income is more taxes. You will have to consider claiming CCA (or depreciation) to keep your taxes down
 
Cargren

Cargren

0
REIN Member
#2
Oct 11, 2007
189
0
16
Surrey, BC
#2
QUOTE (navaz @ Mar 19 2009, 10:11 AM) REIN has been instrumental in moving us to Variable Rate Mortgages. With interest rates coming down, interest expense would come down and your profit would be up. The side effect of more income is more taxes. You will have to consider claiming CCA (or depreciation) to keep your taxes down

Definitely a better problem to have the the other way around!
 
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