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Level 1
June 17, 2026
Question

HELOC

  • June 17, 2026
  • 1 reply
  • 6 views

I have a rental property with a conventional mortgage. If I pay off the mortgage using a HELOC, is the HELOC interest still deductible, assuming the rental property remains rented and the HELOC proceeds were used entirely to replace the original rental mortgage?

    1 reply

    Level 6
    June 22, 2026

    Yes, you can claim the interest paid for the rental portion of the property only. We advise you to contact the CRA at 1-800-959-8281 for specific details on how much you can claim. 

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