Tax reduction effect on buying a house on interest : consideration of tax reduction in house purchase on interest

السؤال

Assalamu Alaikum Wa Rahmatu Allah Wa Barakatuh. Dear Olama, I have read many of the articles on this site regarding the borrowing of loans with interest (Riba) to purchase a house or to make a business from. I'm a strong believer of Riba is forbidden, but I have live a long time in Australia and I have been paying rent for so long, yet I can't save enough money to buy a home. But I have been doing my research on the many ways it can be done, unfortunately they all involve Riba. After reading some of your Fatwas I saw that buying your first house in a non-Muslim country with a loan is permissible provided it is under extreme circumstances. I have more than one question, what makes me decide what are extreme circumstances ? I pay rent and I live well Alhamdu li Allah, but I know if I keep going like this I will never own a home. But I'm not going to die if I don't own a home. So is this the circumstances or is it not. And how do I decide before taking such a step ? My other question is, in these countries (Australia) you can do many things to own a home, and they involve dealing with interest and using the tax system to your advantage. In these countries it might be easier to buy a house on interest and then claim that interest back from the amount of tax you are paying with your job. This means you buy the house with less money from your pocket, in fact it could mean buying a house with very minimal expenses. In this instance you would have to declare the house as and investment and not live in it for a while so this is like a business, but the intention is to finally own that house so you can live in it. What I'm trying to say is, is it ok to try and buy your first house with the use of the tax system and investment to pay for it much quicker and finally paying less interest and owning it much faster then if you were to buy it normally. I hope the above was not too long, your assistance is greatly appreciated. Jazakum Allah Khairan. Wa'Salam Alaikum Wa Rahmatulahi Wa Barakatuh.

جواب الفتوى

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تاريخ النشر

2002-03-21

التخصصات الرئيسية

العلوم الاقتصادية والمالية وإدارة الأعمال
العلوم المالية و المحاسبية
الدراسات الإسلامية

الموضوعات

• الفقه الإسلامي
• المباني السكنية
• التمويل
• القروض
• الشراء
• الضرائب

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فتاوى

لغة النص

الإنجليزية

رقم السجل

BIM-726921

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