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$84bn lost to housing tax lurks? That would go a long way towards ending the housing crisis : australia
Main Post: $84bn lost to housing tax lurks? That would go a long way towards ending the housing crisis : australia
Denver mayor unveils new sales tax proposal to pay for more affordable housing
Main Post: Denver mayor unveils new sales tax proposal to pay for more affordable housing
Top Comment:
Hey you guys remember when we voted on a 0.4% sales tax increase to pay for a train line between Denver and Boulder 20 years ago?
Why introducing a land value tax is the key to solving Canada’s housing affordability crisis
Main Post: Why introducing a land value tax is the key to solving Canada’s housing affordability crisis
Top Comment: LVT is the absolute best tax scheme. I'm a 70% Georgist, but if you want "the rich" to pay their fair share this is the way to go. Or don't like tax loop holes you can't hide land. I highly recommend this book: https://a.co/d/2hr7i39 Or this video on the topic: https://youtu.be/6c5xjlmLfAw?si=EFYt91IJY2dhzEX9 But the jist is that I don't care what you do on your property. Build a skyscraper or a single family or do nothing at all. I will tax only the land, so do with it as you please. If the land gets more valuable from say a train being put in, then those costs are recouped by the people who benefit the most from it. This way public spending is encouraged as a means to raise tax revenues. The main benefit is that it stops land speculation since a prime piece of land that's used as a parking lot or left empty in the downtown core of a city will pay the same LVT as a skyscraper beside it. This encourages optimal land use. It also means redoing your kitchen or improving your property doesn't increase your tax. It also crushes NIMBYISM as highly sought after areas with inefficient land use become much more expensive meaning those people who want to stop progress are going to really pay for it.
Housing Tax reduced 90% until December update - New World on Twitter
Main Post: Housing Tax reduced 90% until December update - New World on Twitter
Top Comment: F for me, paied 1,3k of my t4 house just last night 😐
What is land value tax and could it fix the housing crisis ... - Reddit
Main Post: What is land value tax and could it fix the housing crisis ... - Reddit
One-time tax free top-up to the Canada Housing Benefit
Main Post:
Today the government of Canada announced a one time top up of $500 tax free for those who qualify.
Qualifications under adjusted net income of $35,000 for families or $20,000 for individuals.
Paid rent in 2022 equal to at least 30% of your 2021 adjusted family net income
Must have filed tax return in 2021
Must be over 15 years old.
https://www.canada.ca/en/services/taxes/child-and-family-benefits/top-up-canada-housing-benefit.html
Edit: link to Canada deductions https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses.html
Top Comment:
So basically no one qualifies, just like the dental benefit?
A great political point headline while helping almost no one.
Land value tax could make housing more affordable
Main Post: Land value tax could make housing more affordable
Top Comment:
Couple questions that I have for proponents of a LVT , and concerns I have with it.
My understanding is a LVT would be to replace an income tax on a corporate and private level.
How do we assess the value of the taxed land, and if that value is directly linked to the revenue it can generate?
I think in the 19th century it was easier to say you're x amount of acres should generate y value, so you will be taxed on it.
Well in today's world we have a different economy. Microsoft can make billions in Canada with a few little kiosks with microscopic footprint, while the corn farmer or forestry is going to be on the hook for the majority of tax?
How do you maintain or encourage things like greenspaces in cities, or methods of recreation like golf?
I'm not saying everything about the LVT is bad. But I get concerned it would encourage unfair taxation of wealth.