I think it is good.
Obviously one important aspect of 'fairness' is that all people are all on the same playing field, which this ruling maintains.
In terms of the principle behind 'no tax deductions for home mortgage interest' I think it is again a good thing. One, it encourages people to get equity into their homes unlike in the USA where people benefit (until recently I guess! lol) by carrying huge mortgages, and two, it means you can still sell your home and enjoy equity appreciation/capital gains without paying taxes on it.
Some might be willing to trade the two (mortgage interest deduction for taxes on capital gains) but personally I think a lot of Canadians like the way it is now?
I am not sure how this impacts on that whole RRSP move though? (Smith maneuver you call it Wookie?)
Claeren.
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