Homes Dodge Assets Testing – for Now David May 16, 2014 Assets, Business Opportunities, Business Tips, Economics, Financial News, Home Loans, Mortgages Fears that the recent budget would include means testing the family home proved to be untrue. Including homes as taxable assets would have crushed many already hard-hit pensioners; just as it would have acted as a disincentive to property investors – no longer able to enjoy the tax breaks of negative gearing. One reason suggested for not including homes in asset testing was the spectre of rising unemployment: Homeowners who lose their jobs, and are unable to repay their loans, will cause a double whammy in the economy – an added drain of unemployment benefits and a default with the banks (which, in turn, gets passed straight on to consumers). The Government’s refusal to add the home to the ever-growing list of taxable assets seems a clever attempt to sidestep this potential problem. But this doesn’t mean it will stay so forever. The government’s emphasis on improving work opportunities across the nation could be an attempt to reduce unemployment for this very reason. It won’t be long then before they are reaching for a slice of the juicy taxation pie we know as the family home.