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Old 01-17-06, 09:56 PM
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Originally Posted by af895
Further, you can deduct rent from your income tax. (though you may be able to deduct your mortgage financing charges too - I don't know)
In the US, mortgage payments are typically tax-deductible (this is why it can be a good idea to refi a mortgage and include enough cash out to pay off cars, credit cards, etc. - you're still effectively making payments on all those separate loans, but it's now all one payment, and it's tax deductible).

But I've never heard of rent being tax-deductible - is this only Canada, or is it true in the US as well?
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