addy co-founder Stephen Jagger chats with Robinson Smith, financial strategist and best-selling author about The Smith Manoeuvre and how it works for Canadians working to raise their net worth and raising their level of financial security in the face of rising costs of living.
What Is the Smith Manoeuvre?
The Smith Manoeuvre is a legal tax strategy that effectively makes interest on a residential mortgage tax-deductible in Canada.
How does it work?
The Smith Manoeuvre involves converting the interest a homeowner pays on their mortgage into tax-deductible investment loan interest.