Do you have the wrong kind of debt? The kind that is not tax-deductible?
Most of us do. The wealthy have debt too. The difference is they routinely turn their loans into “good debt” by making the interest tax-deductible with the help of expensive accountants and lawyers. So while the wealthy are transforming their house mortgage loans into free tax refunds, the rest of us are paying off huge amounts of mortgage interest with after-tax income. Until now. The Smith Manoeuvre has introduced a new, simple, and powerful method that extends those tax-saving benefits to the rest of Canadians. It is now easy for you and your Smith Manoeuvre Certified Professional to start turning your bad debt into good debt, right away.
Are you investing enough, soon enough?
Most Canadians aren’t. After ever-rising taxes and the cost of making ends meet, most of us don’t have the resources to put away 10% of our income or max out our RRSPs or TFSAs every year. The benefits of compound interest, which are essential to our long-term financial well-being, remain elusive. But there is a way to change that. It’s done by transforming mortgage interest into tax refunds. Next to winning the lottery, nothing improves your cash flow more efficiently than the act of reducing your income tax – and doing it by making your mortgage tax-deductible. The Smith Manoeuvre is a remarkably efficient way for you and your family to raise large amounts of new money, through free tax refunds, so that you can start building a larger nest egg, sooner. You may or may not have a monthly savings program already (congratulations if you do!) but how would you like to have an additional $750 per month to invest for your future? Maybe $1,000 per month? More?
Is your mortgage killing you softly?
A $500,000 mortgage at 4.0% over 25 years will set you back about $289,000 in interest costs. So that $500,000 will end up costing you over $789,000. And that’s after-tax income, which means you’ll have to earn about $1,127,000 to pay off your home if you’re at the 30% tax bracket. No wonder it’s difficult to save for the future. But if you make it tax-deductible using The Smith Manoeuvre, you will recover a good chunk of that interest in the form of yearly tax refunds. Use the tax department’s money to pay down your expensive, non-deductible mortgage faster, and you’ll see it melt away many years sooner than you imagined possible. It stands to reason: if you are going to have mortgage debt, why not make it tax-deductible? The Smith Manoeuvre shows you how.
In a nutshell.
The Smith Manoeuvre employs refined and proven debt conversion techniques to transform mortgage interest into tax deductions. The method has a remarkable snowball effect that generates large and growing annual tax refunds, enables the homeowner to knock years off the life of a non-deductible mortgage and build an impressive financial portfolio at the same time. It is the most efficient way for families to raise the resources they need to secure both their house and income in retirement. The Smith Manoeuvre uses the legal tools of the CRA and Canadian Financial institutions. It has been reviewed by Revenue Canada staff, and endorsed by respected financial experts and economists, investment planners, and lenders.