associate mortage interest with RRSP

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rsmith
Posts: 5
Joined: Mon Feb 20, 2006 12:24 pm

associate mortage interest with RRSP

Post by rsmith »

I have 'moved' a locked in RRSP from one institution to another, cuurent value $250,000. It currently sits in a RRSP savings account pending recommendations on investment options/strategies/etc. I am also re-mortgaging my primary residence for the same anount. Can I 'associate' the 2 events in a manner that permits me to deduct the loan/mortgage interest as the source for the (re-invested) locked-in RRSP?
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nelsona
Posts: 18677
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Post by nelsona »

Not really grist for this forum, but the interst you will be paying will either be for the mortgage on your home, or will be for your RRSP.

I don't see how this would make any interest you pay deductible.
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best
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