Home owner tax on brink of abolishment - or not

Thursday, 19 December 2024 at 06:30

Is the much-maligned tax that home owners have to pay on the way out – or not?

A parliamentary vote has moved the abolition closer – but there ‘s still another vote to go.

Home owners must pay a tax based on a hypothetical rental value. It’s widely hated but how it should be replaced is the difficult question.

If the tax goes, then so would the ability to offset mortgage interest payments against tax, as well as renovation costs.

Another vote is due tomorrow, and some parliamentarians who voted in favour earlier have already indicated they may change their vote.

So, it’s still very uncertain if any change is coming.

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