The Maluka Thanks George Osborne

by Property118.com News Team

11:08 AM, 26th September 2016
About 2 years ago

The Maluka Thanks George Osborne

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The Maluka Thanks George Osborne

The following appeared this weekend in the comments section of an article published on the Conservative Home website:-

I am The Maluka.

I am a rich landlord without a mortgage (I had to look up ‘mortgage’ on Wikipedia for the word was not in my vocabulary). Currently I house many, more than 100, DWP tenants but they are soon to be gone for I have discovered that I can increase my rents by about 50% to bring them in line with the rents charged by landlords with mortgages. This of course precludes all the DWP tenants on housing benefit but the local authority can deal with them, not my problem. I can make myself even more wealthy thanks to the clause 24 tax grab which applies to the majority of private landlords but not to me. The extra profit will enable me to bear the cost of incorporation (although I hope to find a good accountant who will minimise this for me, after all I am rich and can pay his fees). This will reduce my taxation even further thanks to Mr Osborne’s reduced corporation tax. All this paid for by my tenants who will have no choice but to pay the increased rent. The Maluka Thanks George Osborne

A big thank you to George Osborne for section 24 and reduced corporation tax, but George you made a little mistake removing my 10% furniture allowance so now I no longer supply any furniture.

For those who are inquisitive enough to want to know the significance of my user name, Google “We of the Never Never”” and read the first page of the novel.

[For the ignorant this contribution was intended to be ironic – look it up on Wikipedia if the word is not in your vocabulary]



Comments

David Price

4:27 AM, 27th September 2016
About 2 years ago

The law of unintended consequences!

Old Mrs Landlord

7:29 AM, 27th September 2016
About 2 years ago

Well, it's certainly a different approach to making the uninterested and uninformed sit up and look at the actual, real-world results of Section 24, bearing in mind where it was published. May not play so well to landlords who have spent years scrimping and saving every spare penny of their earnings as well as rental profits to pay off interest-only mortgages to enable them to support themselves in old age. However I'm sure most will appreciate the irony and the target audience.

Old Mrs Landlord

7:39 AM, 27th September 2016
About 2 years ago

Sorry, I see he actually styled himself a "rich" landlord, rather than "wealthy" as my post inaccurately quoted.


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