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    Why’s I’d fair to tax the interest on savings when I can’t claim the increased cost of everything else as a tax deduction?

    @danmat777 Think it’s been explained elsewhere but I’ll have a crack. To keep things simple, let’s say mortgages rates and savings rates are both 10%. $50k in a savings account will get you $5k interest. Take away tax you’ll be left with roughly $3k. $50k in an offset account will save you...
  2. P

    Why’s I’d fair to tax the interest on savings when I can’t claim the increased cost of everything else as a tax deduction?

    @danmat777 Well yes. The point I was making is you get benefits from that money without getting taxed on it.
  3. P

    Why’s I’d fair to tax the interest on savings when I can’t claim the increased cost of everything else as a tax deduction?

    @danmat777 That’s why offsets ruuullleeeeee
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