Posts Tagged ‘property and real estate’

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Revenue is writing to about 12,000 Airbnb hosts warning them that they are liable to pay tax on cash earned from letting their properties to visitors. Airbnb has provided tax authorities with details of residents in the Republic who have used its site to let rooms, apartments or houses to tourists and other visitors.

China’s legislature said it’s giving high priority to a property tax that would be one of the biggest moves yet to rein in a runaway market.

The Government plans to overhaul property tax to avoid a “timebomb” ahead of a general election, the Sunday Business Post reported. The paper said that Revenue documents showed that the Government intended scrapping the single property tax rate – tied to a home’s value – in favour of a new system based on where people […]

Attempts to cool Hong Kong’s runaway property market are being undermined by the ultra-wealthy who are legally using shell companies to sidestep stamp duty. The tax paid on a property purchase can plummet if the home is held via a shell company, reports Bloomberg.

Many Canadians are aware of the principal residence exemption (PRE), which shelters income tax on the capital gain when a property is sold or deemed sold. Each family unit (generally, a Canadian taxpayer, along with a spouse or common law partner and any unmarried children under age 18) can designate one property as its principal […]

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