Seniors Concerns Over Proposed Rental Tax
Age Concern Bermuda said they acknowledge the concerns raised about the proposed rental tax and its “implication on senior home owners and seniors who rent,” and said they will be meeting with the Minister of Finance next week to discuss the matter.
The Government are considering taxing rents, with their Pre-Budget report saying, “In order to broaden the tax base, the Government is considering taxing commercial and residual rents in line with the recommendation of the TRC report. The tax will be charged on persons who rent out commercial and residential properties for rental income.”
The Tax Reform Committee report had suggested introducing a tax on rental income, with the report recommending a flat tax of 5% be levied on all commercial rental units and on individual rental units with an ARV over $22,000.
Speaking at this week’s Pre-Budget Town Hall, Minister of Finance Curtis Dickinson said that final decisions have not been made, and the policies in the report are still under consideration.
A spokesperson said, “The Board of Directors of Age Concern Bermuda acknowledged the concerns raised by their membership and the general public on the proposed rental tax and its implication on senior home owners and seniors who rent in the local housing market.
“The Minister of Finance has agreed to meet with Age Concern next week to discuss this matter. In preparation for the meeting and future dialogue and; in order to inform us of the specific impact that the rate increase will have on seniors, we encourage our members to write to us via email at director@ageconcern.bm.
“Correspondences can also be hand delivered to our Client Services Desk at 1 Burnaby Street, in the City of Hamilton, from 10 am – 4:00 pm, Monday through Friday.”
Why not exempt people who are 65 or over from this tax?
Every landlord is going to pass this tax on to his or her tenant (so it will NOT be the income tax on the rich that we were promised), but if people over 65 are exempt then landlords over 65 will not lose anything and tenants over 65 will not have to pay the tax.
Why exempt them? The people who voted for these morons should be thrilled to pay more tax. That’s what they wanted, isn’t it?
I was trying to be productive.
Good point. You get what you voted for.
I think a lot of people do support this tax, and those who are so loudly against are landlords. There is a limit to what you can pass on. Greedy landlords are already trying to get crazy rent like 5500 for basic 2 or 3 bedrooms with no yard – in East end so no way can that landlord up his or her rent any more!!! This tax should tax rents of over 4000 and higher than what is proposed then you may see rents come down where middle class at least can afford. If you can afford to rent a second home you can afford a higher tax.
If only all of you against the tax could see the breakdown of landlords in Bermuda and who controls the market. Well done plp
Lol
You should have thought of that when you voted for the spend, travel and spend party who give money away $1.2m at a time.
Naw seniahs!!
You didn’t want gays, so you voted out OBAUBP waeva you lot call it. So you got this. You can’t have ya cake and eat it too, it gives ya diabetes!! I hope I c u lot marchin wit ya canes !
They should first try reducing Government expenditure and getting serious about immigration reform. We need a mass influx of people but at this rate, we’re bound to see another mass exodus of our own people.
We’re struggling enough just to get by as it is and this Government’s only solution to the debt problem is more taxes on the people.
But we do NOT want a massive influx of people. Remember the People’s Campaign organising people to surround Parliament so that immigration reform could not be debated?
No, Just ‘certain’ people.
Bunch of seniors if I recall…
Now your into grocery money I suggest you withdraw….
Cost of living is too high now…your stifling life and business.
This increase you will see at the backend….get your greedy hands out of our pockets plp.
All I can say is rent has to go up and you can thank these lot!
Think mate…….groceries are bad enough but rent too?
Constituents lives matter!
Everyone is concerned about the proposed tax at least for those of us who voted for good governance versus hype can say “we told you so”.
Well there you have it….
This is what you voted for …
Good luck Bermuda….this is what you voted for!
Have to say, it’s hard to feel sorry for them.
Those that voted for the Face Eating Leopard’s Party are surprised when Leopard’s started eating their faces.
24-12
You voted for this.
Congratulations.
Enjoy.
How about taxing churches? They’re full of the people who voted for this. Let them participate fully in what they voted for.
Preach IT!! YASSS
Amen to that.
You get what you vote for.
Sorry game over….
They should tax the churches especially the AME ones.
Tax reform committee?
List their names please…do they reside here in Bermuda?
Their decision to do this is not based in reality…or relective of work available….seriously …between groceries and electricity (just went up)…who can afford rent?…with upkeep and such…who can afford to rent?
Life is too expensive now.
Can you afford to live in Bermuda?
What was the belco bill for. Berkley two last month?
How much is it this month?
Give the 5 or 6 thousand people who live and have lived for many years in Bermuda their status, let them then feel like Bermuda is their home. Then they will buy condos and houses and help the economy then make work permits easier for people and invite people to come and set up new businesses…open your hearts and minds and we will all benefit from the growth it will encourage. Regarding taxing rents…I think that’s the last straw for those of us way over 65 trying to decide how we will live paying for food, electricity, health care etc and actually the rents don’t cover it all..so now we struggled to pay for our homes and added an apartment and now we have to share with the Government…don’t think it’s at all what we ever thought would happen.
Let me get this straight…you are advised to raise these specific taxes….tax reform committee needs to register I want “all” their names….let us have a good look at them.
Agree. Let’s know who are the advisors to GVT on this.
Greetings,
Why not increase Land Tax? It is essentially the same tax. 5% seems quite high. Hospital Levy when it first started was about 1% shared by the employer and employee. It would help if the government was serious about cutting expenditure.
Regards,
Bill
Every time I hear of the government needing to raise funds it goes after the struggling strugglers . When I see this I am reminded of the passage 1 Kings 12 of the young king Rehoboam who did not listen to wise counsel of his father . But chose to follow the counsel of his young friends and lost every thing , so I suggest that the government listen to the wise counsel of the people. Do not bite the hand that is feeding you , because it will not be long that you will be knocking on our doors. Only a crazy person will pit a stick in the hand of him that has already beat you and history is there that reveals the truth . If you all have the time I suggest you read the passage of scripture it will surely give incite and wisdom for future government proceedings and good governance for the people . God bless you