As a general rule, mortgage interest isn’t deductible in Canada. If, however, you are carrying on a home-based business you can input mortgage interest in the Use-of-home tab in the relevant business income section (T2125, T2121 or T2042).
General tax deductions
- The new temporary flat rate deduction for COVID work-from-home expenses
- Why is my tradesperson (or apprentice mechanic) tools deduction $0?
- How do I report my employment expenses (T2200)?
- How do I report contributions to my pension plan that are not reported on a slip?
- How do I claim my public transit passes?
- I moved before January 1st, how do I report my moving expenses?
- What credits and deductions get optimized?
- How do I add interest or carrying charges?
- How do I apply for the GST/HST credit?
- Can I claim the GST/HST New Housing Rebate on my return?
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