What’s the worst that could happen on Valentine’s Day? No doubt it’s Budget 2023.
The front desk was a sea of flowers and goodies. Yet, nothing was for me. The streets were crowded with lovebirds. But I was ineligible for love. The defeated soul went home alone depressed and drained. Still, they broke the bad news about paying more to buy private properties.
From tomorrow (February 15), Buyer Stamp Duty (BSD) of residential properties between $1.5 million and $3 million will be taxed at 5 percent. Those over $3 million will be taxed at 6 percent. Non-residential properties between $1 million and $1.5 million will be taxed at 4 percent. Those over $1.5 million will be taxed at 5 percent.
My heart sank and my soul ached. In exchange for breaking our heart on Valentine’s Day, the Finance Minister said the higher BSD in Budget 2023 is expected to generate an additional $500 million in revenue per year....