Saturday 21 October 2017

Sales of family homes raise taxing issue that needs addressing

Family home tax plans caused anger. Photo: Aidan Crawley/Bloomberg
Family home tax plans caused anger. Photo: Aidan Crawley/Bloomberg
Letters to the Editor

Letters to the Editor

I am disappointed that there has been such a huge backlash against the proposed capital gains tax (CGT) on the family home. The individual person should not expect to reap the financial reward (in its entirety) due to local infrastructure/population improvements in their local area often funded/supported by the State.

The Government is rightfully deserving of these funds in order to invest in other essential public services (such as social housing) or further infrastructure improvements in the local area.

With the loosening of credit over time leading to higher asset prices, many speculators (individuals, vulture funds) are encouraged to flip property in order to enrich themselves.

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