Njiraini n company are set on their marks to give you run for u r hard earned dimes

landlord

Ala! Watu wamepatikana! But the article only talks about the tax rate on sale proceeds (30 percent). Will tax on rental income attract a similar rate?

Will he now push for capital gains tax on stocks?

Thats like.. he holds a gun to his own head and pulls the trigger only the very brave can do that, to test if it works

@jamani..true..if he can tax the major land bankers, people owning idle land in hundreds of acres, then we can all give him marks for being brave. The list of people owning over 100 acres in Kenya start with the Queen, Catholic church, Kenyatta, Kibaki, Moi e.t.c. If he tries these, i doubt if he can last in that seat for more than 1 hour.
Untill then, he can tax as many as the 8 to 5 workers, flats owners as he wants,it will still not make a positive effect to the economy. The biggest holders of the economy frommoving forward are the land bankers who deny other citizens the ability ot use the land to produce agric,industry,housing e.t.c

Its not capital gains tax, when you develop or buy and sell goods that are traditionally considered of capital nature, they cease to be considered as capital items and for tax purposes its assumed you are trading in the goods.

Therefore someone consistently developing and selling houses should be taxed like someone buying and selling milk and bread.

Rent tax is just bringing normal income tax defaulters under the bracket, i don't like it at all.

One of the options will be to incorporate a company to be the 'Landlord'. Put all your supported expenses there and pay corporate tax (30%) only for profits.

See you in court.

@jamani, my expenses on the invertments are more than the income, in essense i have a paper loss, how can i be taxed. do companies get taxed after making losses?

brace for rent hikes if implementation is effective..iam concerned about the implementation though since rental tax has always been there.