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The Smith Manoeuvre [Paperback]

Fraser Smith (Author)
2.8 out of 5 stars  See all reviews (10 customer reviews)

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Book Description

Publication Date: Sep 1 2002


FOREWORD

In 1984, the Board of Directors of Vancouver City Savings determined to take steps to secure their dominant position in the British Columbia and Canadian credit union movement.

As Chief Executive Officer at the time, I felt it was propitious that Fraser Smith had targeted VanCity to champion his unique financial strategy for mortgage owners in Canada. The Smith Manoeuvre, as it was to become known, was simple and elegant. We attracted many new customers over the years by virtue of our support of the program.

My question back then still stands today - "Why isn't every Canadian making his mortgage tax deductible?" Perhaps the publishing of "The Smith Manoeuvre" will make it happen.

Larry Bell
Vancouver, B.C.

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Product Description

About the Author

Fraser Smith entered the high octane realm of financial planning following a marketing career with Xerox of Canada. Smith was intrigued by the fact that Americans could deduct the interest expense of their house mortgages from their taxable income while Canadians could not. In 1984, having developed a unique financing strategy that effectively converted mortgage interest for Canadians into tax deductions, he presented his proprietary financing strategy to Larry Bell, president and CEO of Vancity Savings Credit Union. Within weeks, The Smith Manoeuvre was introduced on an experimental basis. Subsequently, hundreds of B.C. taxpayers are enjoying perpetual tax deductions by dint of the wonderful tax and investment effects provided by this elegant mortgage strategy. With the writing of this book, Smith is finally unveiling his proprietary secrets for the benefit of any

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Customer Reviews

Most helpful customer reviews
3 of 3 people found the following review helpful
4.0 out of 5 stars excellent core concept Mar 8 2007
By Write On
Format:Paperback
Although Smith may not be the most experienced writer, his core concept is a good one. The concept of paying down your mortgage in fewer years is excellent. It could have been said more simply but at no time does Smith tell you to do this on your own. Always seek a financial advisor to decide if this manoeuvre is right for YOU. I did not find this book to be political but perhaps I was focussing on just the financial aspects of it. He presents the idea and the rest is up to you. Take this for what is it, a beginning point and go from there. It definitely pushes his software etc. but you don't need it to get started.
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5.0 out of 5 stars Great book, April 10 2013
By Charles-Desgagne
Format:Paperback|Amazon Verified Purchase
Great book, great lesson, I learn about fiscal strategies to reduce incomes taxes. A way for financial freedom, and early retirement .
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4 of 4 people found the following review helpful
3.0 out of 5 stars $8000 a year is worth the price of his book Nov 26 2007
By Mark Finnigan
Format:Paperback
I came first came across the "Smith Manoeuvre" in an article in the National Post over five years ago. The reporter simply explained the concept and wanting to learn more I brought Fraser Smith's book. I would agree with most of the other reviewers that Mr. Smith isn't a particularly a gifted writer. But then writing a book
on a financial technique which can be explained in 5 minutes would be asking a lot from most of us. However Fraser Smith should be thanked from any Canadian tax payer who puts his system into use. Due to the high levels of taxes which the average Canadian pays, its become very hard for us to save. If one doesn't enact the Smith Manoeuvre what
One is left with at least from the book is that we as individuals have to look after ourselves and save. His method just makes it easier.
I have used the services of his son Rob Smith
and if you are comfortable in using your home equity to invest with I suggest you do the same. I just get the added bonus that I have $20000 in interest per year to deduct from my income. At my 40% tax bracket, I get back approx $8000 in my hand every year. Who cares if Fraser Smith isn't a good writer, what matters is he has a great idea.
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Most recent customer reviews
1.0 out of 5 stars Don't waste your time (and money)
The whole book can be summarised in a paragraph. I started reading hoping that finally something new would pop up, but didn't. Read more
Published on Nov 9 2007 by fredz
1.0 out of 5 stars Stretched to 120 pages
Rather lousy writing... 120 short pages (probably 50 pages of text) to say the same thing over and over : Pay off your mortgage quickly and borrow against the equity with a tax... Read more
Published on Oct 3 2007 by S. McGillivray
1.0 out of 5 stars Very Dangerous
This book is not about the well worn idea ( in Canada) of selling your investment portfolio to pay down your mortgage and borrow with tax deductible debt to invest; as that is... Read more
Published on Aug 7 2007 by Glenn L. E. May
3.0 out of 5 stars An interesting concept -
I can pretty much agree with my fellow writers in saying that The Smith Manoeuvre is an interesting idea or finance strategy, but the 150 page book is largely a glorified... Read more
Published on Mar 4 2007 by E. Lalonde
2.0 out of 5 stars Kinda Scary
Given the fact that the book was self published, I was willing to overlook the fact that the writing was amateurish and the editing sketchy at best. Read more
Published on Feb 11 2006 by Patrick
3.0 out of 5 stars Great concept, not well written
When my acccountant described the Smith Manoeuvre, I was very interested and picked up the book. While not entirely well written (he rambles on about politics, the Canadian... Read more
Published on Nov 26 2003 by David Oh
5.0 out of 5 stars Finally - relief for Canadians
Author Fraser Smith has become my hero. His book for making a mortgage tax deductable is brilliant. He writes about all the steps for average folks to do like the rich, and get... Read more
Published on Feb 7 2003 by brad penny
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