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what's the justification. Should renters be able to deduct rent from their income tax bill? Car loan payments?
It encourages and accelerates homeownership so that people don’t need to rent. Take the Netherlands as an example, 65% homeownership rates and 30% social housing stock which is subsidised. Cars are pretty much taxed to death which they should be as they’re an unnecessary luxury.
jaw-
65% homeownership rates
So basically the same as the UK with no subsidy?
Most attempts to subsidise mortgages make existing property and landowners richer without broadening the number of people that are able to buy. Sometimes they backfire by making deposit requirements bigger. See Help to Buy etc in the UK.
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Cars are pretty much taxed to death which they should be as they’re an unnecessary luxury.
I have a special appreciation for nations doing this although it requires a serious comitment to public transport.
Norway, Denmark, Sweden, Switzerland all spring to mind.
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Unnecessary luxury. Absolute nonsense.
NickCJ
Stonehedge
konastab01
I know it's common in lots of places, but what's the justification. Should renters be able to deduct rent from their income tax bill? Car loan payments? It just seems like a random bung to one segment of society.
The one I have more sympathy with is something like deducting the cost of childcare if you go back to work. You're paying someone's salary, which they are then paying tax on. At the moment you need to earn £50k gross to get a childminder £15k net or some stupid arithmetic like that.