Summer Budget 2015 – Landlords Reactions

Okay, guys, I’ve lost another reference now! A few days ago or maybe a week ago, someone posted a reference on the European ‘tax relief’ situation – there was a table in the report which showed the UK Government taxed landlords far more heavily than nearly all the others – it was the one which stated that only Finland didn’t allow finance costs to be offset against income. Can anyone help and give me the reference? I need it for my report. I will be eternally grateful.

Reply to the comment left by “Ros .” at “19/08/2015 – 15:59“:

Hi Ros
I think you are referring to the Housing Report by Dave Treanor (www.treanor.co.uk)
Under “Taxing Rental Income” page 15 states:
“In the Netherlands professional landlords are taxed on the imputed rent – with a standard deduction for costs – otherwise all Countries permit deduction for Mortgage Interest, Management and Maintenance”.
You are doing amazing work.

Reply to the comment left by “Ros .” at “19/08/2015 – 15:59“:

Try page 268 …this may be the link you are looking for http://www.treanor.co.uk/

Hi Kathleen and Lisa. I’ve got this one here:

http://www.treanor.co.uk/books/HousingPoliciesinEurope.pdf

And I can’t find the page, if it’s in that one. I just tried the reference you mention, Lisa and got onto the ‘Treanor family page,’ but still couldn’t find the reference.

Reply to the comment left by “Appalled Landlord” at “19/08/2015 – 13:38“:

I would guess that even those who will be affected to a tiny degree (because they pay little interest) have been included in the calculation of this statistic, in order to inflate our apparent wealth.

That’s a very good point , can we find out if this is the case. This is similar to when they say the average wage is xxxx they include very high salaried personal who is not the average person.

Hi Ros, I be been trying to find the Japanese tax references…I m away and on my iPad and can t seem to copy and paste very well….duh!

Try the Japantax.org. …..it appears to say that interest costs are deductible. Material depreciation and interest costs are covered in article 57.

Reply to the comment left by “Ros .” at “19/08/2015 – 16:30“:

Hi Ros

Pages 16 and 17 describe the situation in other countries, but the table was in another link, I think, where Finland was mentioned.

Reply to the comment left by “Lisa Stux” at “19/08/2015 – 16:39“:

Thanks Lisa. I’ve had a look and they seem to conceptualise things differently, so that it is considered to be a business if more than 10 rooms or units are rented out – and then they mention certain rules applying regarding taxation, but I couldn’t then find the rules. I’m hoping someone else here can take a look and come up with an accurate statement on it – basically I just need a sentence saying: eg. ‘In Japan, finance costs are fully deductible for landlords running businesses…’ and a reference. Help! (someone)
Thanks Appalled. Do you think I can just say ‘all other countries in Europe allow finance costs to be deducted when renting out property’??

Reply to the comment left by “Mark Alexander” at “18/08/2015 – 20:03“:

Good luck for tomorrow Mark, looking forward to hearing how you get on

Reply to the comment left by “Ros .” at “19/08/2015 – 17:15“:

Net rental yields in central Tokyo are reported by Oskamp to be 6 to 6.5% on units costing 8 – ¥9 million each. In the suburbs, they are 8 to 8.5% on units costing 4 – ¥6 million. Net rental yields are calculated after expensing all costs, including a 5% property rental management fee that Akasaka Real Estate charges to those opting for the additional service. The figure excludes income tax, vacancy periods and other exceptional expenses.