Day trading in Canada Message Board

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Gold/Mining/Energy : Day trading in Canada

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To: russet who wrote (2898)	4/22/1999 12:07:00 AM
From: Gulo	Read Replies (1) of 4467

Re: impact of deducting mortgage interest I stand corrected, at least partly. My accountant, presumably competent, told me that the portion of your house paid for by your business belongs to the business and is therefor not eligible for the capital gains exemption. This would be caused by deducting a % of the entire mortgage payment, not just of the interest as I had mistakenly stated. Upon reflection, I sense there is still something wrong with that advice, so I'll do as you said and check with another tax accountant. Of course, depreciation claims may also create a later capital gain for the business, as you stated.

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