The Cash Dam is a simple but powerful tax strategy I have used with quite a few clients.
It is an especially attractive option for those who are familiar with the Smith Manoeuvre or other tax minimization strategies. It can help you with tax optimization if you have a mortgage and own either a small business or a rental property.
The Cash Dam allows the owner of a small business or rental property to convert their non-deductible mortgage on their home to a tax-deductible credit line. It’s a variation on the Smith Manoeuvre, but purely a tax strategy without additional investing. The Cash Dam is essentially an expedient way to change bad debt into good debt.
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Ed Rempel has helped thousands of Canadians become financially secure. He is a fee-for-service financial planner, tax accountant, expert in many tax & investment strategies, and a popular and passionate blogger.
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