I was using the more common definition of the word, not the annoying accountant one.
Accountant profit: Financial gain from a transaction or from a period of investment or business activity, usually calculated as income in excess of costs or as the final value of an asset in excess of its initial value.
Of course the laws will have to be written in such a way that removes the ability of leeches to make financial gains on the back of other people.
The gains are by the inherent value of the asset. You would need to tax the sale of the property because that is where the profit is realized.
My point isn’t about a semantic difference in the definition of a word. It’s that blanket policy that isn’t well thought out doesn’t actually solve any problems, it’s helpful to take some time to actually think things through, get a better understanding of what is at play and come up with real ideas that can be actioned if you want change.
Verbage:
I was using the more common definition of the word, not the annoying accountant one.
Of course the laws will have to be written in such a way that removes the ability of leeches to make financial gains on the back of other people.
100 in rent - 100 in mortgage cost = 0.
The gains are by the inherent value of the asset. You would need to tax the sale of the property because that is where the profit is realized.
My point isn’t about a semantic difference in the definition of a word. It’s that blanket policy that isn’t well thought out doesn’t actually solve any problems, it’s helpful to take some time to actually think things through, get a better understanding of what is at play and come up with real ideas that can be actioned if you want change.
There’s also building upkeep insurance and taxes to pay.