by After a stalemate last week, Switzerland’s federal parliament and upper house found a way forward this week on the abolition of imputed rent that both houses could agree on, reported SRF. Photo by Thomas P on Pexels.comFor more than seven years, the National Council and the Council of States have been discussing how to do away with the imputed rent, which is an amount added to the taxable income of homeowners. Now, after a lot of back and forth, the two houses have finally agreed on a way forward. One of the sticking points was whether to abolish imputed rent on secondary as well as primary residences. This week, the two houses agreed to abolish it for both and to allow cantons to introduce property taxes on secondary residences to make up the shortfall in tax revenue. In addition,
Topics:
Investec considers the following as important: Editor's Choice, Personal finance, Politics, Property
This could be interesting, too:
Investec writes Health and health insurance remain top concern for Swiss
Investec writes Reversal of higher retirement age for Swiss women rejected by top court
Investec writes Abolition of imputed rent gets bogged down in complexity
Claudio Grass writes “THE BIG BULL MARKET IN GOLD AND SILVER HAS ONLY JUST BEGUN”
After a stalemate last week, Switzerland’s federal parliament and upper house found a way forward this week on the abolition of imputed rent that both houses could agree on, reported SRF.
For more than seven years, the National Council and the Council of States have been discussing how to do away with the imputed rent, which is an amount added to the taxable income of homeowners. Now, after a lot of back and forth, the two houses have finally agreed on a way forward.
One of the sticking points was whether to abolish imputed rent on secondary as well as primary residences. This week, the two houses agreed to abolish it for both and to allow cantons to introduce property taxes on secondary residences to make up the shortfall in tax revenue. In addition, deductions will be restricted to limit the loss of tax revenue associated with the change at both cantonal and federal levels.
However, despite this progress, the removal of imputed rent is not a done deal. Many, stand to lose from the change, so resistance is expected. And in Switzerland, 50,000 valid signatures is all that is required to call a federal vote to overturn anything passed by government.
More on this:
SRF article (in German)
For more stories like this on Switzerland follow us on Facebook and Twitter.