house interest should be tax deductible, page-4

rent assistance is a fixed maximum amount.paid same for say $300/week as $800/week rent.

home interest is open ended as to amount.there's the example of first home grants being used to buy multi million properties.
also deductible home interest would greatly widen the negative gearing market while [neg gearing] is currently under attack on cost effectiveness.

really trying to set tax deductions on the basis of income tests etc just feeds the tax avoidance industry and "favours" the capital rich over the "workers" or rebel do you really think that mansions in Double Bay and Toorak should be 'subsidised' by interest deductability?

btw this was tried [home interest deductability] in the 70's.taxpayers still bleated because they weren't paying any home interest or were paying much more than the capped figure.