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this post was submitted on 24 Aug 2023
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Economics
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If you have an imputed rental income tax in addition to a wealth or property tax, then I think one has to go. Doesn't seem right to have both.
Yes there’s both but the wealth tax is much less significant than the imputed rental income
What I really dislike about it is that if you have a house and rent it out you pay a tax on that rent. If you live on it you pay a tax on a rent that doesn’t exist. It almost incentivizes you to rent your house rather than living in it.
It does exist, but it's not obvious because it's income in the form of the rent you don't have to pay because you are both the owner and possessor of the house. It's kind of like how, in the USA at least, if I get free tuition because a parent or spouse works at the university I attend, I will owe income tax on the tuition I'm not paying. Or, if I have some debt that gets cancelled somehow, I will owe income tax on that amount.