RRSP Mortgage

calculator with buttons for tax

You Can Have Your Cake & Eat It Too, Says the Canada Revenue Agency (CRA).

Many clients want to use their own Registered Retirement Savings Plans (RRSP) to help them buy Canadian investment property. Previously, it hasn’t worked because you can’t do a ‘non-arm’s length’ mortgage. In other words, you can’t lend to yourself. The exception was for a personal residence—but not allowed for an investment property.

 News Flash! According to the National Post’s tax expert Jamie Golombek, a CRA technical interpretation says this can sometimes happen.

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