One way to avoid ‘black hole funds’

FOR years we have been encouraged to “invest” our money in the now decimated pension funds as tax allowable deductions, etc.

Similarly we have been encouraged by a coterie of mortgage brokers, bankers and financial gurus to buy our own homes.

As opposed to continue contributing to these “black hole funds” maybe we should be allowed switch this pre-tax income away from fiscal cremation to paying off some mortgage debt against our principal private residences.

The net cost to the revenue would be normal as it is swapping one form of tax-allowable deduction for another.

Messrs Cowen and Lenihan, give us something to smile about and let us tackle negative equity with our incomes.

Come on Brian, use your brains. Not everything has to be as austere as random cut, slash and hook.

Cahir O’Higgins

Cahir O’Higgins and Co

Solicitors

Suite 330

The Capel Building

Mary’s Abbey

Dublin 7