Good morning. If you’re looking for another uniquely Canadian financial concept to add to your vocabulary, let me introduce you to the Smith Manoeuvre. Let’s get into it.

Debt-à-debt

The Smith Manoeuvre recently caught my attention because I’ve been reporting on people carrying mortgages into retirement.

It’s a Canadian investing strategy that aims to gradually convert your regular mortgage debt (whose interest generally isn’t tax deductible) into investment debt. The latter may be tax deductible under Canada’s tax rules.

Every month, you make a mortgage payment part of it goes…