Posted by: Jeff Jeff Johnston
10/18/2001, 17:10:09
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One difference you didn't mention. US houses, since mortgage interest is deductible, are considered capital assets, and are subject to capital gains rules. In Canada, there is no capital gain problem for our primary residence. Thus, I think it makes sense to own a house here through a corporation, if you can come up with the 25% (or some other financing arrangement), then pay rent to the corporation. This makes the interest tax deductible to the corporation, and also a capital asset that will then be subject to capital gains if and when sold. Your thoughts...
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