Now unless you’ve been on Mars you will be aware that the present Government have a tax advisory group looking into the subject of the dreaded capital gains tax. And we say dreaded, because nothing good can come from it (in our view) for property investors. Commentators seem to agree – the final report will almost certainly support the implementation of CGT. When and if its implementation is recommended and in what form it takes is yet to be seen but if we were to dust off the crystal ball and give it a good rub we’re pretty sure that we would see that it will be great for the likes of lawyers and accountants but not so great for property investors. On the positive side National have said that if it is implemented then they will repeal it when they are next in Government.
Capital Gains Tax National Propertyscouts
Will we see the introduction of a CGT?