Refinancing your rental to pay off your personal mortgage is a tax trap, not a tax hack in Canada! Interest deductibility follows the use of the money, not the property that secures the loan

Refinancing your rental to pay off your personal mortgage is a tax trap, not a tax hack in Canada! Interest deductibility follows the use of the money, not the property that secures the loan. If you refinance your rental and use the funds to pay off your principal residence mortgage, that interest is NOT tax-deductible. Period.