What is the Smith Manoeuvre?

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Did you know Canadian homeowners can convert their mortgage interest into a tax deduction, completely legally? In this video I break down the Smith Manoeuvre: what it is, how it works, and whether it could work for your family.

Here is the link for the free Smith Manoeuvre eligibility checklist https://kbmortgages.activehosted.com/f/148

The Smith Manoeuvre is a Canadian mortgage strategy that lets homeowners use a re-advanceable mortgage and a Home Equity Line of Credit (HELOC) to convert non-deductible mortgage debt into tax-deductible investment debt. Over time this builds an investment portfolio, generates annual CRA tax refunds, and can shave years off your mortgage, all using money you are already spending.

In this video I cover:
What the Smith Manoeuvre is and where it came from
How a re-advanceable mortgage and HELOC work together
The CRA rule that makes the interest tax-deductible
A real numbers example
Who the Smith Manoeuvre is right for and who should avoid it
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