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88sins wrote:shake d livin wake d dead wrote:VexXx Dogg wrote:shake d livin wake d dead wrote:VexXx Dogg wrote:At least the online process to submit the form easy. No need to fill out the paper - it's easier when done thru website.
https://valuationdivision.gov.tt/
Everything will be easy when the govt has to collect $!
Yea, but beats having to line up in the sun like the last time when people panic.
now with a deadline and a possible 5k fine, better take front.
Documents for all our properties inside since 2018. They made there visits, measure everything with its own roof(makes no sense to me)....so we waiting to pay the tax and get value for $
You know that you go be waiting till 2278 right?
You still not going to get any service.shake d livin wake d dead wrote:VexXx Dogg wrote:At least the online process to submit the form easy. No need to fill out the paper - it's easier when done thru website.
https://valuationdivision.gov.tt/
Everything will be easy when the govt has to collect $!
one eye wrote:As I have said many times before. Consumerism will be the demise of Trinis.
How will this economy flow if there is no circulating money from taxes?
Will the government print more money and further inflate?
This property tax should have been implemented a long time ago.
Leave eliteauto-tuntun alone88sins wrote:one eye wrote:As I have said many times before. Consumerism will be the demise of Trinis.
How will this economy flow if there is no circulating money from taxes?
Will the government print more money and further inflate?
This property tax should have been implemented a long time ago.
You have selected the ideal moniker, oneye. Because like you really half-blind.
After 20+ years of pnm/unc yappage and gum flappage about "constitutional reform", neither pnm nor unc have moved even 1mm in the direction of said reform that would allow the respective regional corps to collect said property tax and utilize said funds in the districts from which they were collected. You feel that is an unintentional and coincidental occurrence of happenstance? If they did that, i give you odds of 1000:1, not one soul would have a problem with property tax, because you the taxpayer would see your tax dollars at work for your benefit. Ok, that is too much to expect? Ok. Do away with stamp duty. But nah, daz more free money for doing nothing, daz not no option. So is level shaft across the board.
The problem most people have, is with paying a tax based on the perception of wealth, for which you not sure to see the benefits.
But as it stands, what these ticks and fleas and tapeworms want with this current version of the property tax, is everyone but them and theirs pays, ans them and their financiers and their people see the gains, and the general population foots the bill.
What you post there have you looking like a real pnm anus-eating stooge jed.
one eye wrote:As I have said many times before. Consumerism will be the demise of Trinis.
How will this economy flow if there is no circulating money from taxes?
Will the government print more money and further inflate?
This property tax should have been implemented a long time ago.
Username De Dragon you and I are not friends don't call me in your orgy. You frothing now that you renovate to outrank the neighbour like the cretin you are.
One eye=eliteauto-tuntunGladiator wrote:one eye wrote:As I have said many times before. Consumerism will be the demise of Trinis.
How will this economy flow if there is no circulating money from taxes?
Will the government print more money and further inflate?
This property tax should have been implemented a long time ago.
Username De Dragon you and I are not friends don't call me in your orgy. You frothing now that you renovate to outrank the neighbour like the cretin you are.
Allyuh PNM zombies real special yes....
one eye wrote:As I have said many times before. Consumerism will be the demise of Trinis.
How will this economy flow if there is no circulating money from taxes?
Will the government print more money and further inflate?
This property tax should have been implemented a long time ago.
Username De Dragon you and I are not friends don't call me in your orgy. You frothing now that you renovate to outrank the neighbour like the cretin you are.
88sins wrote:one eye wrote:As I have said many times before. Consumerism will be the demise of Trinis.
How will this economy flow if there is no circulating money from taxes?
Will the government print more money and further inflate?
This property tax should have been implemented a long time ago.
You have selected the ideal moniker, oneye. Because like you really half-blind.
After 20+ years of pnm/unc yappage and gum flappage about "constitutional reform", neither pnm nor unc have moved even 1mm in the direction of said reform that would allow the respective regional corps to collect said property tax and utilize said funds in the districts from which they were collected. You feel that is an unintentional and coincidental occurrence of happenstance? If they did that, i give you odds of 1000:1, not one soul would have a problem with property tax, because you the taxpayer would see your tax dollars at work for your benefit. Ok, that is too much to expect? Ok. Do away with stamp duty. But nah, daz more free money for doing nothing, daz not no option. So is level shaft across the board.
The problem most people have, is with paying a tax based on the perception of wealth, for which you not sure to see the benefits.
But as it stands, what these ticks and fleas and tapeworms want with this current version of the property tax, is everyone but them and theirs pays, ans them and their financiers and their people see the gains, and the general population foots the bill.
What you post there have you looking like a real pnm anus-eating stooge jed.
Red government hack? Yellow opposition victim? I wonder where the tuner intelligence elite will put him?Dizzy28 wrote:Lots of assumptions there but to me the kicker is -
"But tax like this is good news for our political system. When more people are directly paying taxes, it will make us even less forgiving of poor execution, infrastructure, or governance. This is a policy that will strengthen our longer-term institutions. Young people should celebrate that."
This assume our voting population is nuanced which they show time and time again they are not. Even here on these forums we see it in the political threads.
wing wrote:Red government hack? Yellow opposition victim? I wonder where the tuner intelligence elite will put him?Dizzy28 wrote:Lots of assumptions there but to me the kicker is -
"But tax like this is good news for our political system. When more people are directly paying taxes, it will make us even less forgiving of poor execution, infrastructure, or governance. This is a policy that will strengthen our longer-term institutions. Young people should celebrate that."
This assume our voting population is nuanced which they show time and time again they are not. Even here on these forums we see it in the political threads.
Written by a red government idiotDuane 3NE 2NR wrote:anyone feeling this?
Property tax: the economic booster Trinidad and Tobago needs
The government’s property tax could be the booster shot this economy needs.
I understand that sounds absurd. No one likes taxes. When you’re living in a country with widespread waste and graft, an instinctive willingness to raise the pitchforks against the taxman is even more understandable.
After all, surely higher taxes should discourage economic activity, not the other way around? And most times they do.
But this property tax is different.
The narrative so far, even from its supporters, is that the property tax is a necessary evil in order to buttress public finances during a downturn and pay for local services.
For its opponents, a tax is an affront, given the economic ravages of covid19.
What both sides are missing is that this could be a positive economic boost.
Context is necessary. A whole generation of investors has experienced 20 years of consistently rising property rises, artificially buoyed by oil and gas money. When growth tanked, along with the 2015 energy price crash, property prices held stable.
A large part of this is because there is very little cost to sitting on idle property. It is seen as an inflation hedge that is unlikely to decline very much in value.
The result – a significant over-investment in property. But that over-investment has not resulted in lower prices – because most owners just sit on their property, rather than sell or lower rents. The market therefore remains stagnant, and hundreds of millions if not billions are trapped in unproductive uses.
Just before 2015, a horde of businesspeople invested in gated-property developments in the $3-$4 million range. Many of these continue to sit idle – out of reach for young people. Most owners don’t even care if they don’t collect rent.
This has contributed to stagnation and decline in a developing economy that is in desperate need of productive, foreign-exchange-earning assets. Raising capital for a new business or an export-producing idea is that much harder when you’re competing against a property as an asset.
The property tax can change this. By imposing a cost on idle property owners will be incentivised to hustle either to sell or rent their property. In the first place, this will largely result in lower rents and prices for young people.
Crucially though, more people will start to look for alternative investments, such as private equity or local stocks or bonds. With mortgage-backed lending slightly less attractive, banks will equally be nudged towards lending to non-property investments, helping to unlock some of the $8 billion they had in excess cash reserves as of June 2021. The result could be an increase in economic activity.
By jolting investors and banks out of their risk-averse stupor, it can move the frontier of what people may consider investing in. Suddenly your niece’s environmentally-friendly packaging company or your nephew’s friend’s tech start-up looks more interesting.
Our mutual funds, brokerages, publicly traded companies, and others should take this as a new opportunity to roll out new investment options, and to deploy capital in more interesting forms of private equity.
Businesses need to get ready to be investible. Risk aversion isn’t entirely to blame. Deal-flow is just as much of a problem. Too many entrepreneurs still fail to demonstrate the potential of well-defined addressable markets, or even to present decent projections.
It is not just start-ups. Managers and owners should dust off their capital expansion plans. We should have thousands of investor-friendly businesses with pitch decks at the ready, preparing to scale.
Our economic system, from our overvalued currency to our antiquated labour laws to our forests of red tape, is designed to keep us from taking risks. Hemingway wrote that one goes bankrupt: “gradually, and then suddenly”. Risk aversion is the luxury of the financially secure – which TT is not.
Too often we attack our political system for rewarding populism. This tax is hardly that. It is in fact almost universally unpopular – which is why it has been treated as a hot potato, tossed from one party to the other.
But tax like this is good news for our political system. When more people are directly paying taxes, it will make us even less forgiving of poor execution, infrastructure, or governance. This is a policy that will strengthen our longer-term institutions. Young people should celebrate that.
We need to start taking more measured, calculated business risks that play to our strengths in strong export industries. The property tax can be the nudge we need to get moving.
Kiran Mathur Mohammed is an economist and co-founder of medl, an IDB Lab and Microsoft-backed social impact health tech company. Send feedback to kmmpub@gmail.com.
https://newsday.co.tt/2021/09/23/proper ... bago-needs
The alpha has spoken.....awaits acolytes, stragglers and rival wannabe alphas.zoom rader wrote:Written by a red government idiotDuane 3NE 2NR wrote:anyone feeling this?
Property tax: the economic booster Trinidad and Tobago needs
The government’s property tax could be the booster shot this economy needs.
I understand that sounds absurd. No one likes taxes. When you’re living in a country with widespread waste and graft, an instinctive willingness to raise the pitchforks against the taxman is even more understandable.
After all, surely higher taxes should discourage economic activity, not the other way around? And most times they do.
But this property tax is different.
The narrative so far, even from its supporters, is that the property tax is a necessary evil in order to buttress public finances during a downturn and pay for local services.
For its opponents, a tax is an affront, given the economic ravages of covid19.
What both sides are missing is that this could be a positive economic boost.
Context is necessary. A whole generation of investors has experienced 20 years of consistently rising property rises, artificially buoyed by oil and gas money. When growth tanked, along with the 2015 energy price crash, property prices held stable.
A large part of this is because there is very little cost to sitting on idle property. It is seen as an inflation hedge that is unlikely to decline very much in value.
The result – a significant over-investment in property. But that over-investment has not resulted in lower prices – because most owners just sit on their property, rather than sell or lower rents. The market therefore remains stagnant, and hundreds of millions if not billions are trapped in unproductive uses.
Just before 2015, a horde of businesspeople invested in gated-property developments in the $3-$4 million range. Many of these continue to sit idle – out of reach for young people. Most owners don’t even care if they don’t collect rent.
This has contributed to stagnation and decline in a developing economy that is in desperate need of productive, foreign-exchange-earning assets. Raising capital for a new business or an export-producing idea is that much harder when you’re competing against a property as an asset.
The property tax can change this. By imposing a cost on idle property owners will be incentivised to hustle either to sell or rent their property. In the first place, this will largely result in lower rents and prices for young people.
Crucially though, more people will start to look for alternative investments, such as private equity or local stocks or bonds. With mortgage-backed lending slightly less attractive, banks will equally be nudged towards lending to non-property investments, helping to unlock some of the $8 billion they had in excess cash reserves as of June 2021. The result could be an increase in economic activity.
By jolting investors and banks out of their risk-averse stupor, it can move the frontier of what people may consider investing in. Suddenly your niece’s environmentally-friendly packaging company or your nephew’s friend’s tech start-up looks more interesting.
Our mutual funds, brokerages, publicly traded companies, and others should take this as a new opportunity to roll out new investment options, and to deploy capital in more interesting forms of private equity.
Businesses need to get ready to be investible. Risk aversion isn’t entirely to blame. Deal-flow is just as much of a problem. Too many entrepreneurs still fail to demonstrate the potential of well-defined addressable markets, or even to present decent projections.
It is not just start-ups. Managers and owners should dust off their capital expansion plans. We should have thousands of investor-friendly businesses with pitch decks at the ready, preparing to scale.
Our economic system, from our overvalued currency to our antiquated labour laws to our forests of red tape, is designed to keep us from taking risks. Hemingway wrote that one goes bankrupt: “gradually, and then suddenly”. Risk aversion is the luxury of the financially secure – which TT is not.
Too often we attack our political system for rewarding populism. This tax is hardly that. It is in fact almost universally unpopular – which is why it has been treated as a hot potato, tossed from one party to the other.
But tax like this is good news for our political system. When more people are directly paying taxes, it will make us even less forgiving of poor execution, infrastructure, or governance. This is a policy that will strengthen our longer-term institutions. Young people should celebrate that.
We need to start taking more measured, calculated business risks that play to our strengths in strong export industries. The property tax can be the nudge we need to get moving.
Kiran Mathur Mohammed is an economist and co-founder of medl, an IDB Lab and Microsoft-backed social impact health tech company. Send feedback to kmmpub@gmail.com.
https://newsday.co.tt/2021/09/23/proper ... bago-needs
Kiran Mathur Mohammed
teems1 wrote:Nobody has problems paying a tax if and only if they see value for their money.
Right now they collect more than enough. If they trim the fat, end corruption, nepotism, kickbacks etc. They'll have more than enough to run the country.
Fix your leaking bucket before asking for more water.
VexXx Dogg wrote:teems1 wrote:Nobody has problems paying a tax if and only if they see value for their money.
Right now they collect more than enough. If they trim the fat, end corruption, nepotism, kickbacks etc. They'll have more than enough to run the country.
Fix your leaking bucket before asking for more water.
I like this analogy.
teems1 wrote:Nobody has problems paying a tax if and only if they see value for their money.
Right now they collect more than enough. If they trim the fat, end corruption, nepotism, kickbacks etc. They'll have more than enough to run the country.
Fix your leaking bucket before asking for more water.
Duane 3NE 2NR wrote:anyone feeling this?
Property tax: the economic booster Trinidad and Tobago needs
The government’s property tax could be the booster shot this economy needs.
I understand that sounds absurd. No one likes taxes. When you’re living in a country with widespread waste and graft, an instinctive willingness to raise the pitchforks against the taxman is even more understandable.
After all, surely higher taxes should discourage economic activity, not the other way around? And most times they do.
But this property tax is different.
The narrative so far, even from its supporters, is that the property tax is a necessary evil in order to buttress public finances during a downturn and pay for local services.
For its opponents, a tax is an affront, given the economic ravages of covid19.
What both sides are missing is that this could be a positive economic boost.
Context is necessary. A whole generation of investors has experienced 20 years of consistently rising property rises, artificially buoyed by oil and gas money. When growth tanked, along with the 2015 energy price crash, property prices held stable.
A large part of this is because there is very little cost to sitting on idle property. It is seen as an inflation hedge that is unlikely to decline very much in value.
The result – a significant over-investment in property. But that over-investment has not resulted in lower prices – because most owners just sit on their property, rather than sell or lower rents. The market therefore remains stagnant, and hundreds of millions if not billions are trapped in unproductive uses.
Just before 2015, a horde of businesspeople invested in gated-property developments in the $3-$4 million range. Many of these continue to sit idle – out of reach for young people. Most owners don’t even care if they don’t collect rent.
This has contributed to stagnation and decline in a developing economy that is in desperate need of productive, foreign-exchange-earning assets. Raising capital for a new business or an export-producing idea is that much harder when you’re competing against a property as an asset.
The property tax can change this. By imposing a cost on idle property owners will be incentivised to hustle either to sell or rent their property. In the first place, this will largely result in lower rents and prices for young people.
Crucially though, more people will start to look for alternative investments, such as private equity or local stocks or bonds. With mortgage-backed lending slightly less attractive, banks will equally be nudged towards lending to non-property investments, helping to unlock some of the $8 billion they had in excess cash reserves as of June 2021. The result could be an increase in economic activity.
By jolting investors and banks out of their risk-averse stupor, it can move the frontier of what people may consider investing in. Suddenly your niece’s environmentally-friendly packaging company or your nephew’s friend’s tech start-up looks more interesting.
Our mutual funds, brokerages, publicly traded companies, and others should take this as a new opportunity to roll out new investment options, and to deploy capital in more interesting forms of private equity.
Businesses need to get ready to be investible. Risk aversion isn’t entirely to blame. Deal-flow is just as much of a problem. Too many entrepreneurs still fail to demonstrate the potential of well-defined addressable markets, or even to present decent projections.
It is not just start-ups. Managers and owners should dust off their capital expansion plans. We should have thousands of investor-friendly businesses with pitch decks at the ready, preparing to scale.
Our economic system, from our overvalued currency to our antiquated labour laws to our forests of red tape, is designed to keep us from taking risks. Hemingway wrote that one goes bankrupt: “gradually, and then suddenly”. Risk aversion is the luxury of the financially secure – which TT is not.
Too often we attack our political system for rewarding populism. This tax is hardly that. It is in fact almost universally unpopular – which is why it has been treated as a hot potato, tossed from one party to the other.
But tax like this is good news for our political system. When more people are directly paying taxes, it will make us even less forgiving of poor execution, infrastructure, or governance. This is a policy that will strengthen our longer-term institutions. Young people should celebrate that.
We need to start taking more measured, calculated business risks that play to our strengths in strong export industries. The property tax can be the nudge we need to get moving.
Kiran Mathur Mohammed is an economist and co-founder of medl, an IDB Lab and Microsoft-backed social impact health tech company. Send feedback to kmmpub@gmail.com.
https://newsday.co.tt/2021/09/23/proper ... bago-needs
88sins wrote:Duane 3NE 2NR wrote:anyone feeling this?
Property tax: the economic booster Trinidad and Tobago needs
The government’s property tax could be the booster shot this economy needs.
I understand that sounds absurd. No one likes taxes. When you’re living in a country with widespread waste and graft, an instinctive willingness to raise the pitchforks against the taxman is even more understandable.
After all, surely higher taxes should discourage economic activity, not the other way around? And most times they do.
But this property tax is different.
The narrative so far, even from its supporters, is that the property tax is a necessary evil in order to buttress public finances during a downturn and pay for local services.
For its opponents, a tax is an affront, given the economic ravages of covid19.
What both sides are missing is that this could be a positive economic boost.
Context is necessary. A whole generation of investors has experienced 20 years of consistently rising property rises, artificially buoyed by oil and gas money. When growth tanked, along with the 2015 energy price crash, property prices held stable.
A large part of this is because there is very little cost to sitting on idle property. It is seen as an inflation hedge that is unlikely to decline very much in value.
The result – a significant over-investment in property. But that over-investment has not resulted in lower prices – because most owners just sit on their property, rather than sell or lower rents. The market therefore remains stagnant, and hundreds of millions if not billions are trapped in unproductive uses.
Just before 2015, a horde of businesspeople invested in gated-property developments in the $3-$4 million range. Many of these continue to sit idle – out of reach for young people. Most owners don’t even care if they don’t collect rent.
This has contributed to stagnation and decline in a developing economy that is in desperate need of productive, foreign-exchange-earning assets. Raising capital for a new business or an export-producing idea is that much harder when you’re competing against a property as an asset.
The property tax can change this. By imposing a cost on idle property owners will be incentivised to hustle either to sell or rent their property. In the first place, this will largely result in lower rents and prices for young people.
Crucially though, more people will start to look for alternative investments, such as private equity or local stocks or bonds. With mortgage-backed lending slightly less attractive, banks will equally be nudged towards lending to non-property investments, helping to unlock some of the $8 billion they had in excess cash reserves as of June 2021. The result could be an increase in economic activity.
By jolting investors and banks out of their risk-averse stupor, it can move the frontier of what people may consider investing in. Suddenly your niece’s environmentally-friendly packaging company or your nephew’s friend’s tech start-up looks more interesting.
Our mutual funds, brokerages, publicly traded companies, and others should take this as a new opportunity to roll out new investment options, and to deploy capital in more interesting forms of private equity.
Businesses need to get ready to be investible. Risk aversion isn’t entirely to blame. Deal-flow is just as much of a problem. Too many entrepreneurs still fail to demonstrate the potential of well-defined addressable markets, or even to present decent projections.
It is not just start-ups. Managers and owners should dust off their capital expansion plans. We should have thousands of investor-friendly businesses with pitch decks at the ready, preparing to scale.
Our economic system, from our overvalued currency to our antiquated labour laws to our forests of red tape, is designed to keep us from taking risks. Hemingway wrote that one goes bankrupt: “gradually, and then suddenly”. Risk aversion is the luxury of the financially secure – which TT is not.
Too often we attack our political system for rewarding populism. This tax is hardly that. It is in fact almost universally unpopular – which is why it has been treated as a hot potato, tossed from one party to the other.
But tax like this is good news for our political system. When more people are directly paying taxes, it will make us even less forgiving of poor execution, infrastructure, or governance. This is a policy that will strengthen our longer-term institutions. Young people should celebrate that.
We need to start taking more measured, calculated business risks that play to our strengths in strong export industries. The property tax can be the nudge we need to get moving.
Kiran Mathur Mohammed is an economist and co-founder of medl, an IDB Lab and Microsoft-backed social impact health tech company. Send feedback to kmmpub@gmail.com.
https://newsday.co.tt/2021/09/23/proper ... bago-needs
This has to be the most jackass utterance ever made in the entire history of the English language.
So, say I pay 4M for a property, and renting it out for 6K/m, but can't find tenants to occupy it, but I cool with it remaining unoccupied.
But because of increased property taxes, I will lower my rent rate to allow a younger probably more irresponsible person that may eventually not be able to pay my reduced rent in a timely and consistent manner long term, just so I can get some money to pay the increased property tax? Or I go sell it for a loss just to get away from having to pay the property tax? And that is how they plan to stimulate economic growth and movement?
Anyway, in case allyuh didn't know
Politicians and their minions live by a motto, "if yuh can't blind them with brilliance, baffle them with bull$#!t".
Please note, politicians aren't known for their brilliance.
Redman wrote:So yuh saying the crappy AG is able to outmaneuver the silk empowered UNC, to the point where he can slip clauses that require constitutional majority in to the bill after the simple majority vote.?
And it's only tuner that pick up on it.
Not the legal luminance that is the UNC
Not the independent bench
Not the Law Association.
Just tuner.
Sounds legit.
L
O
L
88sins wrote:Duane 3NE 2NR wrote:anyone feeling this?
Property tax: the economic booster Trinidad and Tobago needs
The government’s property tax could be the booster shot this economy needs.
I understand that sounds absurd. No one likes taxes. When you’re living in a country with widespread waste and graft, an instinctive willingness to raise the pitchforks against the taxman is even more understandable.
After all, surely higher taxes should discourage economic activity, not the other way around? And most times they do.
But this property tax is different.
The narrative so far, even from its supporters, is that the property tax is a necessary evil in order to buttress public finances during a downturn and pay for local services.
For its opponents, a tax is an affront, given the economic ravages of covid19.
What both sides are missing is that this could be a positive economic boost.
Context is necessary. A whole generation of investors has experienced 20 years of consistently rising property rises, artificially buoyed by oil and gas money. When growth tanked, along with the 2015 energy price crash, property prices held stable.
A large part of this is because there is very little cost to sitting on idle property. It is seen as an inflation hedge that is unlikely to decline very much in value.
The result – a significant over-investment in property. But that over-investment has not resulted in lower prices – because most owners just sit on their property, rather than sell or lower rents. The market therefore remains stagnant, and hundreds of millions if not billions are trapped in unproductive uses.
Just before 2015, a horde of businesspeople invested in gated-property developments in the $3-$4 million range. Many of these continue to sit idle – out of reach for young people. Most owners don’t even care if they don’t collect rent.
This has contributed to stagnation and decline in a developing economy that is in desperate need of productive, foreign-exchange-earning assets. Raising capital for a new business or an export-producing idea is that much harder when you’re competing against a property as an asset.
The property tax can change this. By imposing a cost on idle property owners will be incentivised to hustle either to sell or rent their property. In the first place, this will largely result in lower rents and prices for young people.
Crucially though, more people will start to look for alternative investments, such as private equity or local stocks or bonds. With mortgage-backed lending slightly less attractive, banks will equally be nudged towards lending to non-property investments, helping to unlock some of the $8 billion they had in excess cash reserves as of June 2021. The result could be an increase in economic activity.
By jolting investors and banks out of their risk-averse stupor, it can move the frontier of what people may consider investing in. Suddenly your niece’s environmentally-friendly packaging company or your nephew’s friend’s tech start-up looks more interesting.
Our mutual funds, brokerages, publicly traded companies, and others should take this as a new opportunity to roll out new investment options, and to deploy capital in more interesting forms of private equity.
Businesses need to get ready to be investible. Risk aversion isn’t entirely to blame. Deal-flow is just as much of a problem. Too many entrepreneurs still fail to demonstrate the potential of well-defined addressable markets, or even to present decent projections.
It is not just start-ups. Managers and owners should dust off their capital expansion plans. We should have thousands of investor-friendly businesses with pitch decks at the ready, preparing to scale.
Our economic system, from our overvalued currency to our antiquated labour laws to our forests of red tape, is designed to keep us from taking risks. Hemingway wrote that one goes bankrupt: “gradually, and then suddenly”. Risk aversion is the luxury of the financially secure – which TT is not.
Too often we attack our political system for rewarding populism. This tax is hardly that. It is in fact almost universally unpopular – which is why it has been treated as a hot potato, tossed from one party to the other.
But tax like this is good news for our political system. When more people are directly paying taxes, it will make us even less forgiving of poor execution, infrastructure, or governance. This is a policy that will strengthen our longer-term institutions. Young people should celebrate that.
We need to start taking more measured, calculated business risks that play to our strengths in strong export industries. The property tax can be the nudge we need to get moving.
Kiran Mathur Mohammed is an economist and co-founder of medl, an IDB Lab and Microsoft-backed social impact health tech company. Send feedback to kmmpub@gmail.com.
https://newsday.co.tt/2021/09/23/proper ... bago-needs
This has to be the most jackass utterance ever made in the entire history of the English language.
So, say I pay 4M for a property, and renting it out for 6K/m, but can't find tenants to occupy it, but I cool with it remaining unoccupied.
But because of increased property taxes, I will lower my rent rate to allow a younger probably more irresponsible person that may eventually not be able to pay my reduced rent in a timely and consistent manner long term, just so I can get some money to pay the increased property tax? Or I go sell it for a loss just to get away from having to pay the property tax? And that is how they plan to stimulate economic growth and movement?
Anyway, in case allyuh didn't know
Politicians and their minions live by a motto, "if yuh can't blind them with brilliance, baffle them with bull$#!t".
Please note, politicians aren't known for their brilliance.
The red government is not in favour of people especially injun people that own multiple estates .Mmoney607 wrote:88sins wrote:Duane 3NE 2NR wrote:anyone feeling this?
Property tax: the economic booster Trinidad and Tobago needs
The government’s property tax could be the booster shot this economy needs.
I understand that sounds absurd. No one likes taxes. When you’re living in a country with widespread waste and graft, an instinctive willingness to raise the pitchforks against the taxman is even more understandable.
After all, surely higher taxes should discourage economic activity, not the other way around? And most times they do.
But this property tax is different.
The narrative so far, even from its supporters, is that the property tax is a necessary evil in order to buttress public finances during a downturn and pay for local services.
For its opponents, a tax is an affront, given the economic ravages of covid19.
What both sides are missing is that this could be a positive economic boost.
Context is necessary. A whole generation of investors has experienced 20 years of consistently rising property rises, artificially buoyed by oil and gas money. When growth tanked, along with the 2015 energy price crash, property prices held stable.
A large part of this is because there is very little cost to sitting on idle property. It is seen as an inflation hedge that is unlikely to decline very much in value.
The result – a significant over-investment in property. But that over-investment has not resulted in lower prices – because most owners just sit on their property, rather than sell or lower rents. The market therefore remains stagnant, and hundreds of millions if not billions are trapped in unproductive uses.
Just before 2015, a horde of businesspeople invested in gated-property developments in the $3-$4 million range. Many of these continue to sit idle – out of reach for young people. Most owners don’t even care if they don’t collect rent.
This has contributed to stagnation and decline in a developing economy that is in desperate need of productive, foreign-exchange-earning assets. Raising capital for a new business or an export-producing idea is that much harder when you’re competing against a property as an asset.
The property tax can change this. By imposing a cost on idle property owners will be incentivised to hustle either to sell or rent their property. In the first place, this will largely result in lower rents and prices for young people.
Crucially though, more people will start to look for alternative investments, such as private equity or local stocks or bonds. With mortgage-backed lending slightly less attractive, banks will equally be nudged towards lending to non-property investments, helping to unlock some of the $8 billion they had in excess cash reserves as of June 2021. The result could be an increase in economic activity.
By jolting investors and banks out of their risk-averse stupor, it can move the frontier of what people may consider investing in. Suddenly your niece’s environmentally-friendly packaging company or your nephew’s friend’s tech start-up looks more interesting.
Our mutual funds, brokerages, publicly traded companies, and others should take this as a new opportunity to roll out new investment options, and to deploy capital in more interesting forms of private equity.
Businesses need to get ready to be investible. Risk aversion isn’t entirely to blame. Deal-flow is just as much of a problem. Too many entrepreneurs still fail to demonstrate the potential of well-defined addressable markets, or even to present decent projections.
It is not just start-ups. Managers and owners should dust off their capital expansion plans. We should have thousands of investor-friendly businesses with pitch decks at the ready, preparing to scale.
Our economic system, from our overvalued currency to our antiquated labour laws to our forests of red tape, is designed to keep us from taking risks. Hemingway wrote that one goes bankrupt: “gradually, and then suddenly”. Risk aversion is the luxury of the financially secure – which TT is not.
Too often we attack our political system for rewarding populism. This tax is hardly that. It is in fact almost universally unpopular – which is why it has been treated as a hot potato, tossed from one party to the other.
But tax like this is good news for our political system. When more people are directly paying taxes, it will make us even less forgiving of poor execution, infrastructure, or governance. This is a policy that will strengthen our longer-term institutions. Young people should celebrate that.
We need to start taking more measured, calculated business risks that play to our strengths in strong export industries. The property tax can be the nudge we need to get moving.
Kiran Mathur Mohammed is an economist and co-founder of medl, an IDB Lab and Microsoft-backed social impact health tech company. Send feedback to kmmpub@gmail.com.
https://newsday.co.tt/2021/09/23/proper ... bago-needs
This has to be the most jackass utterance ever made in the entire history of the English language.
So, say I pay 4M for a property, and renting it out for 6K/m, but can't find tenants to occupy it, but I cool with it remaining unoccupied.
But because of increased property taxes, I will lower my rent rate to allow a younger probably more irresponsible person that may eventually not be able to pay my reduced rent in a timely and consistent manner long term, just so I can get some money to pay the increased property tax? Or I go sell it for a loss just to get away from having to pay the property tax? And that is how they plan to stimulate economic growth and movement?
Anyway, in case allyuh didn't know
Politicians and their minions live by a motto, "if yuh can't blind them with brilliance, baffle them with bull$#!t".
Please note, politicians aren't known for their brilliance.
But what's the point he trying to make about people just owning property but not doing anything with it? He trying to say that holding to property for the price to go up and then sell it?
Any right thinking person in this country should not want to pay any tax as long as Rowley is in power and is giving himself the power to do things like go to Australia with Stuart Young and buy two both with no proper Procurement procedure.
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