Strumming your pain with their fingers,
Singing your life with their words,
Killing you softly with their money,
Killing you softly with their money,
Telling your whole life with their words,
Killing your softly with their money…
Yes, some do.
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Yeah, this law sucks. I’ve been doing this for a long time. I use the profits to keep a house or two then.
They just want their kids to have better schools. Everyone in Taiwan does this too. Change the child to another property to enroll in school and change it back the next month. They never check it again after initial registration.
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10-20% profit and taxed at 45% still leaves you with 5.5-9.5% profit. Still better than a savings account.
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Good policymakers know how to edge the country towards a path without causing massive disruption and financial meltdowns.
If you’ve wiped out the wealth of the majority of your population… Congratulations. You’ve now created Zimbabwaiwan.
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Sure, who doesn’t? Except being fraudulent with your school registration means little negative impact on society in Taiwan. Taiwanese schools are all pretty decently funded and Taipei schools are generally desirable, except maybe in Wanhua. Also, in Taiwan you have to test into high school and pay tuition anyway. CPS notoriously has the worst safety record for schools in the developed world, so they very limit the good, test-only public schools to kids who are actually from the City of Chicago itself, who would otherwise be setting foot in what are actually high security prisons every day. There’s enforcement that kids who actually wouldn’t have an opportunity to get anything resembling an education can get one. You live at the address you said you do, which is in the city, or you pay up. I’m saying that Taiwan should do the same with claimed household registration, because not doing so has allowed the rich to own and avoid taxes on properties that they don’t have a use for, and even people like me, who supposedly are in the top 5% of earners in this country (lol, what?) can’t even buy a shoebox. What is an average office worker with a family to support supposed to do then? You can’t put 250% of your monthly earnings in to a mortgage. Taiwan not enforcing household registration has had a clear negative effect on Taiwanese society as a whole. I don’t care if they don’t check that kids in schools live where they say they do. I care that their parents are paying taxes for the properties they’re pretending not to own.
The govt should really step in. Those places should be rented out, it benefits nobody to hoard houses unless its like a holiday home type thing even then you should be doing something with it like a guest house.
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is that a rooftop addition?
I think half of it was actually original to the building, which is at least 40 years old. They own the unit below me, which I guess is standard to then own the 加蓋 in Taipei. But there’s definitely an extension, obvious by the placement of clearly outdoor windows into other rooms and concrete that’s only 2 inches thick along one outside wall. But, for a 頂樓加蓋, it’s not that bad. Wasn’t too cold or wet this past winter, and wasn’t deadly hot when I’d moved in in August. But it’s the principle of the matter.
Sounds a lot like my old place. even though that just had a small addition, the balcony was converted to a conservatory type thing, which was horrible, always full of polluted air and thick dirt. And when it rained it was super loud.
Anyway 20 000 is too much for a rooftop addition, these things should be regulated, if those anything goes houses are allowed to exist they should at least be extremely cheap. I’ve seen some horrible shit, like one place had a toilet and shower in the middle of the apartment. no walls, just a toilet in the middle. another place i visited gave me nightmares, it was so grotty. worse than kowloon walled city.
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Are you talking about one of those “new” apartments that has glass walls for bathrooms?
Who thought of those??
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No glass no walls. You can watch tv on the couch while ur mate is sat behind you taking a dump in the middle of the room. That sort of thing.
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So how much is this apartment? And why would anyone rent anything like this?
Am I reading this right? APRC holders are still considered foreign nationals so if we buy a house it appears we get hit with a more punitive tax rate than locals?
From the way it reads here, we would pay a 35% tax rate even if we hold the property over 2 years? Which means even if we held the property for a decade, it’s still a 35% tax rate, just for being a foreigner?
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I’ve got the same question. That’s also how I read what’s been quoted here, but presumably there’s more to it. And yeah, at some point when we sell, if this is an issue, I’m going to get rather annoyed about it!
Then again, I have no idea what the tax rate is for property gains for a local if you’re selling something twenty years later.
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Still not really sure, after 2 or 5 years, what happens? Selling it is tax free?
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13,000 out in tucheng… so still over priced. Well compared to a 1 room studio its probably quite spacious, people will rent anything.
What about properties and lands inherited? Will capital gains tax apply here? Also does step up apply in Taiwan for inherited estates for both “self use” and “investment properties”? Thank you in advance.