Abolish Stamp Duty to free up housing market, say RICS members

first_imgHome » News » Housing Market » Abolish Stamp Duty to free up housing market, say RICS members previous nextHousing MarketAbolish Stamp Duty to free up housing market, say RICS membersPoll of members found that 20% want Stamp Duty radically overhauled or abolished and Council Tax instead used to fill government coffers.Nigel Lewis19th September 201801,834 Views The gloves are off at the Royal Institution of Chartered Surveyors (RICS) which says its member want a radical shake-up of the taxation system.This includes abolishing Stamp Duty altogether or changing it significantly to enable ‘thousands’ more first time buyers to get onto the property ladder.The venerable trade association also says its members believe the general taxation system should be changed to encourage more downsizers to sell their home.Just under a fifth of its members also believe that instead of Stamp Duty, council tax should be used to “shift the burden away from the transactional phase and onto occupation, freeing up funds in the buying process”.FrustrationRICS says it is frustrated that its ongoing recommendations to government to reform taxation to encourage the more efficient distribution of housing stock has so far fallen on deaf ears, even though it would benefit the entire property buying chain.“It is not surprising that our professionals feel that residential property taxation is out of kilter,” says Abdul Choudhury, RICS’ Policy Manager (left).“If we consider tax in terms of how they disincentivise certain behaviours, SDLT makes purchasing, moving and making more effective use of stock costly at a time when we need all these things. Council taxes, on the other hand are woefully out of date and are highly politicised.”“We would therefore urge the Government to undertake a full-scale review of the SDLT system – starting with what it hopes to achieve from this tax in terms of revenue generation, market fluidity or another objective.”RICS Abdul Choudhury Royal Institution of Chartered Surveyors September 19, 2018Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021last_img read more

Weekend crash injures one in Franklin County

first_imgFranklin County, In. — A Sunday crash injured a Connersville man in Franklin County according to the sheriff’s department.Investigators say Morgan Davis, 20, was northbound on State Road 1 near Banks Road at 3:16 p.m. when she lost control. Her vehicle went off the west side of the road and struck and guardrail.Davis was transported to McCullough Hyde Hospital in Oxford, Ohio for treatment. Her condition is not known.last_img

To Obama, campaign is barely ahead in 4th quarter

first_imgby Jim KuhnhennNEW YORK (AP)—President Barack Obama sees the presidential contest as a clutch moment in his favorite sport—the fourth quarter of a taut basketball game.Fundraising with the help of current and former National Basketball Association stars, Obama told a small group of donors gathered Wednesday night at Alice Tully Hall in Lincoln Center that the current campaign is like the final minutes of a basketball contest with his team up by a few points.“But the other side is coming strong,” Obama said. “And they play a little dirty. We’ve got a few folks on our team in foul trouble. We have a couple of injuries. And I believe they have one last run in them.” Obama raised $3 million with the help of the players, who included former Chicago Bulls player Michael Jordan and former New York Knicks Walt Frazier and Bill Bradley. NBA Commissioner David Stern also was there.Invoking Jordan’s competitive nature, Obama concluded, “If you have seven minutes to go and you have a little bit of a lead, that’s when you put them away.”The players were part a daylong fundraiser. Earlier, former and current players participated in a $250-per-person autograph session and in a skills camp priced at $5,000 for two people.“It is very rare that I come to an event where I’m like the fifth or sixth most interesting person,” Obama joked at the Lincoln Center dinner.Later, Obama changed out of his dark suit to shoot baskets with some of the players out of sight of the press. Obama, an avid basketball fan and a player, made a splash during his 2008 campaign by sinking a 3-point shot while visiting troops in Kuwait. His most recent star-studded game, also played in private, featured actors George Clooney and Tobey Maguire. Charlotte Bobcats owner Michael Jordan (AP Photo/Chuck Burton)last_img read more

“Reach Out at the Well” Aims to Build Downtown Community from…

first_imgSumitted by Reach Out at the WellOver a dozen local organizations and community projects are banding together for “Reach Out at the Well,” a street outreach and volunteer recruitment fair.The free event will take place Friday, August 22, from noon to 2 p.m., at the Artesian Commons Park in downtown Olympia, 415 4th Ave E. All are welcome, and organizers promise free info, snacks, shade and smiles.“There’s a lot of talk these days about how to help downtown,” said Renata Rollins, event coordinator. “There’s also a lot of action, but it’s an unsung story. Reach Out is a chance to chat with folks doing the work, learn about available resources for coping with homelessness, illness, violence or job loss, and find out how you can make a difference in the community through street outreach work.”Participating organizations include Community Youth Services, POWER (Parents Organizing for Welfare and Economic Rights), SideWalk, Thurston County Food Bank, Partners in Prevention Education, Stonewall Youth, the Olympia Free Clinic and others. The Olympia Downtown Ambassadors will also be present.The public can expect to find resources and volunteer opportunities for housing and shelter, youth services, back to school information, free food options, free health services, low-income pet care and more. Some tables will give away snacks and sandwiches; others will offer free on-site counseling and advocacy. Organizers will also serve lemonade made with Artesian Well water.“It’s a real community showing, from grassroots downtown projects to established nonprofits like the Family Support Center, which is seeking volunteers for their brand new family shelter,” said Rollins, a former Downtown Ambassador. “What unites us is a desire to empower the community from the ground up. If nothing else, it’s the perfect excuse to enjoy a glass of lemonade with your family and get to know what’s out there.” Facebook0Tweet0Pin0last_img read more