C'mon Iceman, there is no such thing as a Tenant Tax, it doesn't exist.
The thing you're referring to isn't even a tax on investors or landlords.
It's actually the removal of a tax deduction for investors, the complete opposite of a tax.
In politics we've become so calloused & used to the manipulation of language to re-frame objective facts into alternative narratives that it doesn't even raise an eyebrow anymore.
But it should & we should resist going down that path or we'll end up like America where you seem to be able to choose whatever facts suit you.
There's many scholarly articles written on the subject & here's an interesting one.
https://lithub.com/on-the-weaponizat...atized-nation/
Getting back to the policy, removal of tax deductibility for investors.
Here's an example, I know, a lawn mowing contractor who primarily through the tax deductibility facility was able to accumulate 42 rental properties.
Since the govt removed the tax deductibility he has sold most of them & those homes are now all owner occupied with families paying off their own mortgages instead of rent to a landlord.
Isn't that so much better for communities when families have security & stability, a stake in their communities, kids have stability to stay at the same school, develop a group of friends etc. rather than the insecurity of renting?
Ultimately home insecurity leads to far higher social costs in crime, welfare benefits, truancy etc, and who picks up the costs for this - us taxpayers.
And secondly, if that was a valid reason for rental increases if it was reinstated you would immediately expect rents to decrease wouldn't you? But we know that wouldn't happen.
It's good policy with good outcomes.
Home buyers were seriously disadvantaged against investors until this was changed & both competing on same footing. That's the way the free market should operate, not giving one group an advantage over another.
Originally Posted by Blue Skies
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