- Joined
- 9 Dec 2012
- Posts
- 1,457
Having gold is always a good idea.
Cypriot Austerity Measures
- Thread starter 233
- Start date
Having gold is always a good idea.
You're 80 years old and a widower, you live in a 1 bedroom flat West London... it was modestly priced when you and your husband bought it but now its in mansion tax territory... you only collect a modest pension. You should pay an annual tax because your property is now highly desirable and the market rate for it if you were to sell is now huge?
Taxing an asset as income is the wrong way to go about things... you can apply a one off tax to an asset when ownership is transferred - i.e. when its sold (I don't really like this but it makes more sense) or when its inherited (I support this). Otherwise if you want to 'tax the rich' then you should look at income, capital gains etc...
- Joined
- 9 Dec 2012
- Posts
- 1,457
You are a pensioner, you live in a cheap home but your council tax is £3000, you cant afford to pay it, if you sold up your limited on the property you could buy. Pensioner living in a 5 million pound home, you pay £1000 council tax, you can move to a cheaper place and pocket the rest.
And how many pensioners live in 5 million pound homes that are poor? all the ones I know are super rich. Some Tories want to get rid of capital gains tax.
Last edited:
Whilst I agree with the sentiment behind the idea why can't they just get on their bike and move somewhere cheaper and with the gained money get a better overall quality of life?
Associate
- Joined
- 20 Dec 2008
- Posts
- 1,380
The EU lefty experiment has shown it's true colours once again, I didn't think anyone expected them to just go out there and blatantly take it though. But hey, F.A Hayek did warn us this was a huge risk when you give the state this much power.
P.S council tax is criminal.
P.S council tax is criminal.
Osborne would never do it, it would disenfranchise most conservatives* Labour on the other hand...
If we go for the usual stereotype of the conservative voters being those well off with savings and labour voters being those with no money "living off" the state.
- Joined
- 9 Dec 2012
- Posts
- 1,457
Because more rich do not want to pay high rates, and the tories own expensive properties, so they hide behind an argument that uses emotion to get their way.
Last edited:
- Joined
- 9 Dec 2012
- Posts
- 1,457
Osbourn is a ####, he has no idea about reality, he has no idea about hardships, they do not care about people lower than them.
You pay Tax/Rates/Council Tax on the Value at the time you bought it!
IE If the the equivalent when You bought it in 1963 is now £80,000 you pay on that. Your neighbour who moved into a similar property last year and paid £1.5Million pays based on that!
I agree with the opinion that Taxing non-income assets is wrong, but this would make it a bit fairer!
I'm sure they can... but they might not want to and I don't see why they should be obliged to.
The govt can collect 50% when the old widower dies anyway.
Last edited:
Fair enough - I can appreciate that sentiment as I am sure you can appreciate the extrapolations of that logic and my usage of a very particular phrase there to make that point.
Council tax bands are all normalised for the value of the property as it would have been in 1991.
That is not true. I've got a savings account at Bank of Cyprus. 3.2%.
People will stir things up to blame Cypriots, when in fact, the Germans knew what they were doing when they cut Greece's debts by 80%.
Personally I think thats terrible. You work all your life, buy a house, make it your home, become part of the community. Your partener dies, you retire, we'll take your house. Seems like an awful thing to do.
You've already been taxed on the income you used to buy said house, it seems like double dipping to be taxed on it over and over again. And while I can understand the council provides services, only really bin removal makes me think it's something that should be paid for by property owners.
If we are going to tax property, we should tax unused property. Not some old dear for wanting to remain in the family home.
- Joined
- 9 Dec 2012
- Posts
- 1,457
I disagree with IHT. with council tax you can move into a cheaper place with IHT you really can't do much.
- Joined
- 9 Dec 2012
- Posts
- 1,457
Well allowing those with assets worth millions to pay teh same rates as those with assets less than 500k is shameful.
Hows that? They've already paid tax on the income used to purchase those assets. Whats so shameful in not wanting to tax them in perpetuity?
Your argument is confused. You actually appear to support the reduction of benefits for people in property too large for them, the so called bedroom tax (it's not a tax by the way - it's a reduction in subsidy in your own words).
With IHT you're dead and don't really have much need for your assets anyway....
You want to impose a mansion tax on someone who's paid tax on their income and acquired that asset themselves but you don't agree with someone simply being given/inheriting a substantial asset and having to pay a tax.
Last edited: