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Capital Gains Tax: Introduction on the sale of non-main residences: Comments of the Minister for Treasury and Resources

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A decision made 27 September 2024:

Decision Reference:  MD-TR-2024-729

Public

Subject: Presentation of comments on proposition (P.61/2024) to introduce Capital Gains Tax on the sale of non-main residences

 

Report Title: Report to present: Presentation of comments on proposition (P.61/2024) to introduce Capital Gains Tax on the sale of non-main residences

Public

Decision(s):

The Minister approved the comments and requested that they be presented to the States

Reason for Decision(s):

The Minister opposes the proposition on a number of grounds, including the potential effect on Jersey’s international competitiveness, the unknown impact on the rental housing market, and because there is already a plan in place to grow the Strategic Reserve, rendering the thrust of the proposition unnecessary.

Resource Implications: There are no financial or manpower implications as a direct result of this decision

 

Action Required: The Greffier of the States to be requested to arrange for the comments to be presented to the States at the earliest opportunity.

Signature:

 

 

Signed By: Minister for Treasury and Resources

Date Signed:

 

 

Date of Decision (If different from Date Signed):

 

 

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