QUESTION: I have invested in a real-estate development in Penticton B.C. This is not my principle residence.The property is under construction and will not be completed until summer of 2009.Question:We have borrowed $70,000 to place a down payment on the property purchased for $700,000 and are paying interest on this $70,000 amount. Is the interest I paid on this investment deductible against my personal income tax?
