Parliament discusses abolition of home tax - again

Friday, 27 September 2024 06:30

Will it finally happen?

The Lower House of Parliament is discussing, again, the abolition of the imputed rental value tax charged to home owners.

It’s an extra tax that homeowners must pay on their property.

It’s based on a hypothetical rental value.

It was introduced in 1934.

Virtually everyone agrees it should go as it creates a disincentive to own your own home.

But no one can agree what should replace it.

The issue will go to the Upper House, which will likely deal with it in December.

Even if parliament agrees on abolition – it will still likely to go t a referendum.

So, if you own your own home - don’t hold your breath.

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