Allow interest paid on mortgages as income tax deduction
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The CRA allows everyone that contributes to salaries to use those as income tax deductions, the biggest contribution towards the richest industry comes from every homeowner that carries a mortgage. The banks and mortgage companies have profits in the billions and yet their biggest source of income comes from mortgages.
I would like to see that like the USA that we could declare the interest (the largest portion of the mortgage payment) we pay to the banks and mortgage companies be added to the deductions of personal income tax.
Please sign the petition and we can hopefully make a change.
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