property tax is it still 0.75%

frankedad


Joined: 21/11/2008
Posts: 346

Message Posted:
19/04/2010 18:02

is the tax still on reduced rate, does any one know ..thanks

laptagal


Joined: 28/05/2008
Posts: 549

Message Posted:
19/04/2010 18:10

Hi, my solicitor recently told me that we have had our PTP but added the following;

"I am just inform you about some news, last year, the Government implemented temporary reductions to the taxes payable on transfer of title to assist purchasers who were in the process of purchasing property, but who had not taken title and who were suffering the effects of the global financial crisis, making it difficult for them to pay their taxes and take title. The aim was also to relieve the financial burden on the constructors, who were also suffering the effects of the global financial crisis.

The deadline for completing the transfers at the reduced rate expired on 31st December 2009. However, the rate being applied to constructors is still the reduced rate of 4%, whereas the taxes payable by purchasers have returned to their normal rates.

The Constructors Union has joined forces to try to put pressure on the Government to re-institute the reductions to the taxes payable by pu

laptagal


Joined: 28/05/2008
Posts: 549

Message Posted:
19/04/2010 18:11

continued...

The Constructors Union has joined forces to try to put pressure on the Government to re-institute the reductions to the taxes payable by purchasers, arguing that unless financial incentives are offered to both constructors and purchasers, purchasers will not be able to take title.

The Constructors Union has decided to boycott all transfers of title until the Government takes action with the aim of ensuring that the Government receives no revenue through transfers of title. The Constructors Union has issued a notice to all of its members to the effect that they will issue severe financial penalties to any members who go against this decision and transfer title during the boycott period."

judyr


Joined: 07/07/2009
Posts: 956

Message Posted:
25/04/2010 11:04

So what percentage is the full rate?

Dusterbruce


Joined: 03/08/2007
Posts: 1125

Message Posted:
25/04/2010 11:44

3% I think