Fed: No plans for tax deductions on home interest payments - PM
CANBERRA, Aug 4 AAP - The federal government had no plans to make interest paymentson housing tax deductible, Prime Minister John Howard said today.
And he said the federal government would not (not) introduce capital gains tax on thefamily home.
Mr Howard has asked the Productivity Commission to investigate housing affordabilityat a time when many first homebuyers are being priced out of the market.
But he ruled out following the lead of the United States where interest payments onhomes were tax deductable.
"No, we wouldn't consider that," Mr Howard told ABC radio.
"We had it some years ago but I think overseas there are different arrangements forcapital gains tax on the family home and we are certainly not going to bring that in,I can assure you."
AAP sm/drp/de
KEYWORD: HOUSING HOWARD TAX
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