LOC Question

[simpy]

Hi guys,

 

Just a random question that I'm having difficulty finding an answer to. Are interest payments on student LOCs tax deductible? Thanks!

[NLengr]

Not that I know of.

 

If someone has found out they are, I would love to hear that.

[rmorelan]

Not that I know of.

 

If someone has found out they are, I would love to hear that.

 

Yeah, only government loan interest is and bank loans don't count unfortunately

[DocT7]

Hey guys:

 

Does anyone know anything about the National Bank LOC through MD MGMT?

I am just wondering how common it is to go through them and not one of the other big "5" banks and if it's worth buying a CMA membership and everything in order to qualify....? Any advice on this would be awesome!

 

Cheers!

[NLengr]

You normally have a CMA membership through your provincial medical association (which they will set up for you in the first week of medical school). It also gives you a subscription to the CMAJ.