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- Dec 2021
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www.montrealfinancial.ca www.montrealfinancial.ca
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That being said, often rental properties don’t generate significant amounts of net income after deducting mortgage interest and other expenses including property tax, insurance and repairs.
Does that mean you don't pay much taxes at least while you're paying mortgage on the property? Maybe but remember that you can only claim the mortgage interest not the mortgage principal.
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Much of the taxes paid are refundable and can be recovered if you pay yourself a dividend, which must then be declared on your personal taxes.
Look into how this works
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