Normal
Different situation.It makes sense that if they wish to tax a capital gain when a family sells their home, they have to allow as a minimum for all the expenses that contributed to that capital gain, Eg if I buy a house for $100K and spend $50K renovating it sell it for $150K, they can't justify taxing that $50K its not a genuine capital gain, it was just the $50k I renovating it being reflected in the new price, insuring that property and interest payments should all be deductible too, because they contribute to the capital gain.So, once they start taxing peoples personal homes, then all sorts of renovations and additions become tax deductible.
Different situation.
It makes sense that if they wish to tax a capital gain when a family sells their home, they have to allow as a minimum for all the expenses that contributed to that capital gain, Eg if I buy a house for $100K and spend $50K renovating it sell it for $150K, they can't justify taxing that $50K its not a genuine capital gain, it was just the $50k I renovating it being reflected in the new price, insuring that property and interest payments should all be deductible too, because they contribute to the capital gain.
So, once they start taxing peoples personal homes, then all sorts of renovations and additions become tax deductible.
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