Interest Deductibility and Cost of Borrowing Calculator
Use this calculator to estimate interest deductions and cost of borrowing savings.
The calculations shown are for illustration purposes only. Provincial/territorial tax rates are as of January 1, 2017 and are subject to change. Actual rates and amounts may differ. These calculations do not include charges or non-refundable tax credits other than the basic personal tax credit. Interest is not deductible in all circumstances. For example, if the only earnings your investment can produce are capital gains, you cannot claim the interest you paid. Additional restrictions apply for residents of Quebec.
Individuals should consult qualified tax specialists for more information. Assumes that the interest rate remains constant throughout the amortization period. All loans are subject to B2B Bank approval and the calculations shown may not be the actual figures used for B2B Bank's loan application and underwriting processes. B2B Bank cannot be held responsible for the accuracy of the calculations performed or the amounts indicated.