In Move To Cheapen Malta’s Rents, PN Will Reward Willing Landlords With Tax Incentives
Rent prices in Malta have ballooned in recent years but the Nationalist Party believes it has a solution.
In its electoral manifesto, the PN proposed revamping the taxation system for rental income, with tax getting progressively lower depending on how cheap the rent is.
Properties rented out at €300 a month will not be taxed at all, those rented out for between €301 and €600 will be taxed at 7.5%, while anything more expensive will be taxed at 15%, which is the current flat rate.
All properties rented out for the purpose of social accommodation under a Housing Authority scheme will not be taxed at all.
Describing the scheme as “a strong fiscal incentive for landlords”, the PN said it should apply to landlords who rent out their properties for a minimum of five years.
The Labour Party has yet to propose any measures to tackle the problem of inflated rents but it has promised to aid first-time buyers pay their home loans by giving them €1,000 a year for the first ten years of their loan.
Do you agree with this proposal?
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