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Originally Posted by Xazy
Yakk, But do not forget the tax deduction from the student loan either!  |
You get income tax deductions on student loan interest?
I thought that only worked on loans taken out for investment income. . .
http://www.cra-arc.gc.ca/eservices/tips/menu-e.html
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319: Interest paid on student loans
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Darn, looks like you are right.
I guess it makes sense: you borrowed money to buy an investment (education), so the interest on that loan can be put off against income gained from the investment (job).
<-- used non-student loans to pay for his edumication.