Variable Mortgage Interest and Taxes

[navaz]

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]

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!