If I use a personal line of credit to buy a Canadian public listed company stock that pays eligible dividend in a non-registered account, is the interest tax deductible?

[wilson-lowwy]

• Funding source: Unsecured Personal Line of Credit
• Investment: holding dividend paying Canadian public listed company shares and not trying to sell in the short term
• Type of Dividend: eligible dividend
• Account: Non-Registered
• Tax Status: Canadian Tax Resident

[TurboTaxEsther · Accepted solution]

WOW you are thorough!

Yes, you can use interest you paid to earn the dividend income as a carrying charge. 

The key is you said NON registered.... Good job explaining your situation.