What baloney! "its not a loophole if its legal"?????? Certain tax measures are enacted for certain, usually quite limited purposes. Unfortunately there are always those willing to circumvent the particular purposes in order to save their own money/save their clients money in order to gain income for themselves, it may not be illegal but it confounds the original purpose. This is how the big banks in the US avoided jail time; they built on a legal foundation but twisted and mis applied the purpose for their own ends, no it wasn't illegal but it was a misapplication of the law. To stop this EVERYTHING should be taxable unless specifically excluded! That would put a spanner in the shenanigans of the tax evaders and their advisors, the tax accountants who I see are lining up to whine with their clients. This cat and mouse game where the gov has to chase those owing tax has to stop, it costs us all money.