{"id":7736,"date":"2016-03-12T14:01:10","date_gmt":"2016-03-12T07:01:10","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/stop-whacking-pensions-and-benefits-hit-property-instead\/"},"modified":"2016-03-12T14:12:58","modified_gmt":"2016-03-12T07:12:58","slug":"stop-whacking-pensions-and-benefits-hit-property-instead","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/stop-whacking-pensions-and-benefits-hit-property-instead\/","title":{"rendered":"Stop whacking pensions and benefits \u2013 hit property instead"},"content":{"rendered":"


\nIn America it\u2019s a super-generous tax break \u2026 no capital gains tax when you sell your main home but only if it has not gone up by more than \u00a3175,000There is a tax break that Americans cherish, but were the same thing introduced in Britain it would spark a revolt akin to the Boston Tea Party. One major US financial website calls it \u201cthe best tax break available to Jane and John Public.\u201d So what is this lavish giveaway by the Internal Revenue Service? It\u2019s the fact that, in the US, homeowners do not have to pay capital gains tax when they sell their main home, so long as it has not gone up in price more than $250,000 (\u00a3175,000) for a single person or $500,000 (\u00a3350,000) for a couple.Americans think this is super generous. Most homeowners in the US, a country less blighted by property price inflation than Britain, have not seen their homes rise in value by more than $500,000, so do not pay a dime in CGT. If their home has massively inflated in value (we\u2019re talking San Francisco or New York) the gains above $250,000\/$500,000 are taxed at 15% or 20%. Continue reading…
\n
\nSource : theguardian.com
\nRead more…Stop whacking pensions and benefits \u2013 hit property instead<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

In America it\u2019s a super-generous tax break \u2026 no capital gains tax when you sell...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-7736","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-20M","jetpack-related-posts":[{"id":172362,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/trump-officials-float-cut-to-capital-gains-tax-on-home-sales-what-it-could-mean-for-homeowners\/","url_meta":{"origin":7736,"position":0},"title":"Trump officials float cut to capital gains tax on home sales. 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My girlfriend and I then bought and\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":99336,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/treasury-weighs-up-tax-break-for-landlords-who-sell-to-generation-rent\/","url_meta":{"origin":7736,"position":3},"title":"Treasury weighs up tax break for landlords who sell to generation rent","date":"October 8, 2018","format":false,"excerpt":"\r Thinktank draws up plan at time when 40% of young adults are unable to buy a homeThe chancellor, Philip Hammond, is considering using this month\u2019s budget to introduce a \u201cgood landlord\u201d tax break rewarding investors who sell properties to sitting tenants amid a housing crisis that has left 40%\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2694,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/we-need-to-sell-our-second-home-what-are-the-capital-gains-tax-implications\/","url_meta":{"origin":7736,"position":4},"title":"We need to sell our second home. 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