3 Legal Tax Loopholes the CRA Still Allows (For Now!)

Come on! 30% return!!! You are just picking a huge ROR to show benefit is worth all this effort. If she invests the loaned money and it returns 8%, then it's not nearly as lucrative. Still may be worth it, but will require some work and book keeping. Also , I though that the prescribed rate remains constant for the lifetime of the loan and is set when the loan was created. So , if the loan was made when the prescribed rate was 1%, then it does not need to be changed if the rates go up. On the other hand, if rates go down, then the loan can simply be paid out and a new loan established at the newer, lower rate.

#1 is not a loophole, it is a rip off...

Best loophole is don’t have an income if you make $100k per year net income and are an entrepreneur borrow $2million and pay back $40k per month for 5 years your interest is $100k per year no income now you have 1.52 million that year to play around with to make more money

Another one is if you have 5 kids and your wife stays home with the kids you can pay them all $15k per year $90k tax free to support your family starting at age 6. Then keep your income low like stated above and your wife get $3600 per year tax free child tax free

Learned a lot from this video! Great stuff as always!

It's funny people call these loopholes when they're just legitimate tax planning strategies the CRA recognizes, allows, and expects you to have the proper documentation to back up. I get it though, you'd get less views with that kind of title lol. Great video!

this CDA loophole sounds soooooooooooooooo sick. Thank you
and sounds too fake lol

Mortgage interest should be tax deductible

Curious how a CDA would work with an LLC... Thanks for the info!

canada is a criminal network designed to keep everyone poor. see how usa is so different

Hello, do you know stocks we can invest? I wanna invest 5k

So smart 😊 I wish I understand all this to follow 😢

Wow I just learned about this Smith Maneuver. I invested a large sum with a HELOC a few years ago and still have it, however I don’t think my stocks like TESLA would qualify! I’ve been paying monthly interest for 4 years. Apparently only dividend paying stocks qualify? How stupid is that?

Work 4 cash

The interest would be her expense so she wouldn’t pay tax on $15000… it would be less. The interest would be taken off as carrying costs.

Paying off our mortgage loan to my father-in-law didn't make very much financial sense. However, it forced me to learn about HELOC's and zero down investment property loans. Now, we use our home's equity to purchase invest properties that are tax incentives.

Very cool! I assume, if I loan money to our daughter, she pays the 4% but she can put that into her TFSA (has lots of room) get 15-20%. So not even deal with capital gains. Right?

How to legally reduce taxes not like our prime minister Carney

How about just ESCAPE this broken country. Out out out.