Currently in the Income Tax Act, there are restrictions on deducting interest, so you can deduct interest only if it's for the purpose of gaining or producing income.
On February 6th, 2020. See this statement in context.
On February 6th, 2020. See this statement in context.
February 6th, 2020 / 4:10 p.m.
Regional Tax Leader, MNP LLP
Currently in the Income Tax Act, there are restrictions on deducting interest, so you can deduct interest only if it's for the purpose of gaining or producing income.
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