this post was submitted on 19 Mar 2024
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Would this mean we are taxed on the value of our houses should we have a mortgage on it.
Possibly this could be prevented by having floor and ceiling limits to this. Could even exclude mortgages if you remove corporate ownership and limit taxes to multiple mortgage situations.
Although honestly the simpler the rules the better for everyone. So maybe some people get screwed in a couple areas but would still be way better off