Re:Canada bans most foreigners from buying homes
by scarface74 on Tuesday January 03, 2023 @02:09AM
(#34228700)
> Get rid of the mortgage interest deduction
Just a useless talking point. Especially with the changes in the tax law, the standard deduction is so high, most people don’t take advantage of the interest tax deduction.
> Tax imputed rent same way that rent payments are taxed (so you would have to pay tax on the money you would have paid to rent from yourself)
So now increasing taxes are going to help make houses more affordable?
> Get rid of capital gains exemption ($250K per person, 500K for married couples)
If you make it more punitive to sell, less people are going to be willing to sell their house when they outgrow it. That makes for less housing to come onto the market.
> That's what should be fixed. Don't push everyone to buy a home
Just a useless talking point. Especially with the changes in the tax law, the standard deduction is so high, most people don’t take advantage of the interest tax deduction.
https://smartasset.com/taxes/how-did-the-trump-tax-bill-affe...
> Tax imputed rent same way that rent payments are taxed (so you would have to pay tax on the money you would have paid to rent from yourself)
So now increasing taxes are going to help make houses more affordable?
> Get rid of capital gains exemption ($250K per person, 500K for married couples)
If you make it more punitive to sell, less people are going to be willing to sell their house when they outgrow it. That makes for less housing to come onto the market.
> That's what should be fixed. Don't push everyone to buy a home
So now you want more landlords?