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How to claim interest paid on an investment loan?

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  • How to claim interest paid on an investment loan?

The interest you pay on your investment loan can be claimed as a tax deduction. For the interest expense to be tax-deductible, you must:

  • Use the borrowed money to earn income from a business or property.
  • Pay the interest during the tax year for which you are claiming the deduction.
  • Have a legal obligation to pay the interest.
  • The interest charged and paid must be reasonable as defined by the CRA, usually one established by market rates.
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