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.