Topic: | Re:Re:Re:Re:Re:Re:Mansion Tax and Bedroom Tax | |
Posted by: | Adrian Irving | |
Date/Time: | 20/04/15 15:33:00 |
The Mansion Tax is already looming over the property market like a black cloud, that, with the hike in Stamp Duty for properties over the million mark has firmly pressed the pause button. Thanks’ Ed & George, for nothing! The Manson Tax is flawed in so many ways and is the first time I can think of people are taxed on debt. To explain, you have a property valued at 1.9.m with a 50k mortgage = 1.40m equity: NO TAX You have a property worth 2.1. million with a 100k mortgage = 1.1m equity: TAX DUE. So the person with more nett worth pays nothing and the person with less pays God knows what. BONKERS! |