/biz/ - Business & Finance

>>50806664
Not sure how it is in Canada but in America you would be wise to use that $100k downpayment for a multi-family property or house or whatever and rent it out.
In the US you can fully deduct mortgage interest, take depreciation, etc. on real estate that is not your primary residence. This lets you fully deduct your mortgage interest while still claiming your standard deduction. With the house you live in, you can only deduct mortgage interest up to $750k or slightly more if you live an expensive area BUT you have to itemize to claim it and thus can’t also claim the standard deduction.
Having a mortgage on a property you rent out let’s you claim all this shit on your schedule C and still claim the standard deduction creating significant tax savings.

Best part is when you go to sell it, you can roll the gains into a similar property under section 1031 like kind exchange and pay no taxes on gains so long as it’s done within 120 days or you transfer the proceeds into a trust in the interim. Not sure if Canada has something similar but I would look into your tax code mane