"In general, one should be allowed to write off borrowing costs for an investment. Business is allowed this, and so should individuals be allowed."
That's because an "investment" is supposed to be a tool to produce wealth.
Yes, a business can write off borrowing costs because it encourages people to start businesses and (hopefully) produce wealth.
Unlike a business, a house doesn't produce wealth for the benefit of the economy. therefore, the tax payer shouldn't subsidise the borrowing costs.
- Forums
- Political Debate
- 92% of neg gearing claims is on existing prop
92% of neg gearing claims is on existing prop, page-11
-
- There are more pages in this discussion • 1 more message in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)