You’re right about there being no mortgage-interest deductibility here, in Canada. However, we also don’t have capital gains taxes on the sale of principle residences. In the long run, it pretty much balances out.
You also left out the part where our federal budget is showing a small surplus this year, with bigger ones to come. We’re paying down our (already proportionately much smaller) national debt.
A couple gets $500,000.00 untaxed if they’ve lived in the principle residence for 2 of he past 5 years.
It’s half of that for a single person.
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