Monday, August 02, 2004

Transitioning to VAT Taxation
A quick question - what happens to those who have mortgages? All that interest that was deductible under the old system - well, its not deductible anymore (unless I am misunderstanding the VAT). There are plenty of other people I'm sure in different situations who have made tax favored decisions that would be no longer beneficial, but cannot be transitioned away from immediatly. This could end up screwing a lot of people if the transition is done overnight. I guess we'll find more out as the debate continues.

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