Fixed asset tax deductions extended 2 years
The Government's Select Committee on the Taxation System has decided to extend the fixed asset tax reduction that applies to brand new homes and apartments. The reduced tax benefit will be extended an additional two years. Under this new plan, the annual fixed asset tax on a brand new apartment or home will be halved for the first five years since construction. The tax applies to all new residences, including those purchased to be rented out as an investment.Read more