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Impact of 30% rental income tax on housing development in Kenya
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Ali Baba
#71 Posted : Friday, June 15, 2012 10:37:10 AM
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Joined: 8/29/2008
Posts: 573
BAICHUMA GATE: Fixed deposits are for the lame and lazy.Deposits time expire and interests vary.Real estate is a lifetime investment...
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Bachuma Gate
#72 Posted : Friday, June 15, 2012 10:39:57 AM
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Joined: 3/26/2012
Posts: 280
What about T/bills, Bonds, Pension schemes, stocks
DOH
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Ali Baba
#73 Posted : Friday, June 15, 2012 10:40:24 AM
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Joined: 8/29/2008
Posts: 573
BAICHUMA GATE: I did not hijack your thread.I just responded to the issues raised.And no one fails to invest cos of taxes....did I answer your original question???
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Ali Baba
#74 Posted : Friday, June 15, 2012 10:41:58 AM
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Joined: 8/29/2008
Posts: 573
BAICHUMA GATE: Why are you testing me?? Next question....
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Bachuma Gate
#75 Posted : Friday, June 15, 2012 10:45:32 AM
Rank: Member

Joined: 3/26/2012
Posts: 280
Ali Baba wrote:
BAICHUMA GATE: Fixed deposits are for the lame and lazy.Deposits time expire and interests vary.Real estate is a lifetime investment...


What about T/bonds, T/bills, Unit Trust, Stocks, Pension schemes?

I think I would be more bothered about how much I make not it what way so long as it is legal.
DOH
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Rahatupu
#76 Posted : Friday, June 15, 2012 10:45:48 AM
Rank: Veteran

Joined: 12/4/2009
Posts: 1,982
Location: matano manne
a4architect.com wrote:
@alibaba..true..tax evasion is illegal and should be avoided.

Njiraini can set up systems that are fool proof to ensure this.

Another way is to make taxation fair such that there is no reason to avoid paying the tax i.e it creates a win-win for both govt and citizens.


My two cents on this:

1. Njiraini has done one thing he has widened his tax bracket, since house rent is bound to go up thus those from informal sector jua kali will pay up income tax somehow (if landlords increase rent by similar tax a percentage).
2. Investment in rental properties will stagnate at the current levels and maybe go down if the overall effect does not spur growth leading to reduced interest rates taxes notwithstanding.
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Bachuma Gate
#77 Posted : Friday, June 15, 2012 10:51:19 AM
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Joined: 3/26/2012
Posts: 280
That's also my thinking but time will tell. Low ROI=less investment=less supply=increase in rent.
DOH
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Rahatupu
#78 Posted : Friday, June 15, 2012 10:57:55 AM
Rank: Veteran

Joined: 12/4/2009
Posts: 1,982
Location: matano manne
tonicasert wrote:
The little tax i know, if u own a huge property portfolio, how about forming a company and claiming depreciation on property as an expense, netted off against rental income in calculating taxable income as a way of tax avoidance (not evasion)
.

Someone sort this out and advise:

If you have rental flats earning you say 100k per month with the following expenses:
1. Mortgage interest 114,000
2. Monthly maintenance costs of 10,000

What amount would KRA ask for as tax??
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nakujua
#79 Posted : Friday, June 15, 2012 11:08:00 AM
Rank: Elder

Joined: 12/17/2009
Posts: 3,583
Location: Kenya
Ali Baba wrote:
BAICHUMA GATE: I think you are mistaken.The world over,no one would surpass investing in real estate for T Bills/Bonds.The interest rates vary all the time.Like in 2003,Tbill rates was so low.And I have told you before,no one stops investing because of taxes.Look you invest in T bills and such securities while accumulating enough capital to invest in real estate.Please read Robert Kiyosaki's Rich Dad's Guide to Investing---What the rich invest in and what the middle class invest in...The middle class invest they way you are arguing.The rich invest in real estate,and that's why they are rich.And please note all investment income is taxable.


The forbe's top 1000 richest only contains 76 individuals in the real estate sector.
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Ali Baba
#80 Posted : Friday, June 15, 2012 11:11:38 AM
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Joined: 8/29/2008
Posts: 573
BAICHUMA GATE:Then keep worrying how much you make.Real estate is not for everyone....just the way stocks/bonds,bills are not for everyone.
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