My_question_is: Canadian-specific Subject: Smith Manoeuvre Expert: taxman at centa.com Date: Wednesday October 18, 2006 Time: 12:41 AM -0400 QUESTION: I'm a first time home buyer in Canada. I'm looking at putting 30% down and finance the rest 70%. Would I be able to use the "smith maneuver" to make the mortgage interest deductible? Thank you very much. xxxxxxxxxxxxx ------------------------------------------- david ingram replies: The answer is yes if you follow all the rules and in particular, use a mortgage person who understands how to do it as well. Glen Kelleway - glen at mortgageitright.com (604) 476-0053 is the person I used. Stuart Rodger with Manulife Bank at (604) 351-6133 is tuned in and is a regular guest on Fred Snyder's radio program every Sunday from 9 AM to 10:30 AM on 600AM in Vancouver, (listen on the internet at www.600AM.com. If you are on Vancouver Island, Joan Marsh in Nanaimo at (250) 758-9966 is one of the first mortgage brokers I knew who figured it out and was suggesting it to her clients. I have never heard of a bank manager suggesting it to their clients and very few mortgage brokers or realtors have it figured out. The following former Q & A will help as well. Be sure and read the Nov 2001 Newsletter mentioned. ----------------------------- My_question_is: Canadian-specific Subject: Mortgage Expert: taxman at centa.com Date: Friday October 13, 2006 Time: 04:15 PM -0400 QUESTION: I've heard about the Smith Manoeuvre and am very sceptical. Is it legal & legit??? I'am a single Mom who needs to be very cautious. What are the pro's & con's, your help would be greatly appreciated. Thank you ----------------------------------- david ingram replies: I first published the method of making your Canadian mortgage deductible in 1976, 79, 80, 81 and lastly in book form in 1991. In 1991, I ceased publishing books and carried on with the internet, publishing it again in March 1997 and 2001. The Smith Manoeuvre came out in 1985 and is in its fourth printing now. since 1976, I have not seen anyone who followed the steps in any of my publications or the SM turned down by the CRA. You have to be exact and specific though. Skip a step or substitute and you could end up dead in the water. 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