Smith Manoeuvre Calculator — Field-by-Field Guide (Canada)

Understand each input in TrackMoola's Smith Manoeuvre calculator, how to read net worth and tax charts, and how to share a read-only link with your mortgage broker or accountant.

Estimated time: 10–15 minutes

Smith Manoeuvre Calculator — Field-by-Field Guide (Canada) - Guide illustration

Illustration by TrackMoola

  1. Know the risks first

    The Smith Manoeuvre uses leverage. You can lose money on investments while still owing the HELOC. HELOC rates are often variable. This guide and calculator are educational only — confirm deductibility and suitability with a licensed advisor and tax professional.

  2. Open the calculator

    Go to the Smith Manoeuvre Calculator. All projections run on TrackMoola's servers when you adjust inputs — your browser only displays results.

  3. Home value & mortgage balance

    Enter your estimated property value and the current principal balance on your primary mortgage (not the rental). The model uses these to frame equity available for re-borrowing over time.

  4. Non-registered investments

    Enter existing taxable portfolio value you would keep invested alongside the strategy. This seeds the portfolio side of the projection.

  5. Payments and rates

    Set your actual monthly mortgage payment, the mortgage contract rate, and a realistic HELOC rate. If the payment is too low to cover interest, the API returns a clear error — increase the payment or check the balance.

  6. Marginal tax rate

    Use your approximate federal + provincial marginal rate on ordinary income. This drives the estimated value of deducting HELOC interest and taxes on dividends.

  7. Horizon and strategy

    Pick the analysis length (years) and an investment strategy preset (yield, growth, eligible vs non-eligible dividends). Switch presets to stress-test how return assumptions change the story.

  8. Extra payments (optional)

    Toggle extra mortgage payments to compare accelerated paydown vs the base Smith path. The chart overlays basic Smith, accelerated Smith, and a no-Smith baseline.

  9. Share results

    Use Share results to create a read-only link. Guests get a 7-day link by default and cannot edit sliders. Send it to a broker or spouse to discuss the same numbers.

  10. Read the companion story

    See how one couple used the tool before a broker meeting in our blog: From HELOC anxiety to a clear plan.

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