A MIC is a Mortgage Investment Corporation
The corporate structure of a Mortgage Investment Corporation is important. Goldberg Capital MIC’s (GCAPMIC) structure is a tax-efficient flow-through vehicle that qualifies for Registered Plans such as the RRSP, TFSA, RESP, RRIF, etc.
Mortgage Investment Corporations are designed primarily for residential mortgage lending in Canada. The private mortgage market is a growing multi-billion dollar industry involving a high percentage of mortgages issued in Canada.
Mortgage Investment Corporations such as GCAPMIC provide mortgages to Canadians who prefer private mortgage financing to bank financing. Many individuals and companies prefer private mortgage financing from a Mortgage Investment Corporation such as GCAPMIC that offers the specialized service required by borrowers in the private mortgage market.
History has proven that although prices may have fluctuated from time to time, over the long term real estate has appreciated in value. The security for a mortgage is real estate property. A quality mortgage portfolio, composed exclusively of CANADIAN mortgages, is GCAPMIC’s preferred investment because of the enduring value of real estate. Mortgages provide regular income, tangible security and a return to the investor that is superior to savings deposits, GICs and bonds.
Mortgage Investment Corporations are uniquely Canadian, defined in Section 130.1 of the Income Tax Act. They are tax-efficient flow-through investments designed to allow people to invest in the Canadian private mortgage market. A MIC such as Goldberg Capital MIC allows individuals, companies, foundations, societies, unions, strata corporations, trusts and Registered Plans to invest in this lucrative safe market.
The principal characteristics of a MIC, according to Section 130.1 of the Income Tax Act, are as follows: