Is the Interm Occupancy fee a tax write-off?

[nohotmess]

Is the Interim Occupancy Fee (Phantom Mortgage) or any part of it a tax-write off? I wish I knew more about this fee before I purchased a new condo. Now I am paying $875 a month for who knows how long (it's already been 3 months) and they are expecting it will be at least 3 more. I will never see that money back.

 

[CN Tower]

Is the Interim Occupancy Fee (Phantom Mortgage) or any part of it a tax-write off? I wish I knew more about this fee before I purchased a new condo. Now I am paying $875 a month for who knows how long (it's already been 3 months) and they are expecting it will be at least 3 more. I will never see that money back.

No.

Stop complaining and educate yourself. You are occupying your unit and you're not making mortgage payments. You will 'never see that money back' on the much larger interest payment portion of your mortgage either.

Believe me, Developer wants your bank's money more than your want to give it to him. Particularly in this declining marketplace. Registrations take some time to complete.

Be patient and enjoy your new home

 

[zeeden]

No.

Stop complaining and educate yourself. You are occupying your unit and you're not making mortgage payments.

You make it sound like he/she wants to occupy it.

If I had a choice I wouldn't move in until the place is actually registered or better yet they finish the amenities. Unfortunately we can't and for this reason some people rent out their units during this period.