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31 Dec 2021 10:47 AM:

A proxyholder is supposed to vote the way the proxygiver instructs him.  However, if there are no specific instructions, then the proxyholder can vote in the way he freely decides.    Accordingly, it could happen that the same proxyholder votes in one way in representation of a proxygiver that has instructed him how the vote should be given and in another way for a proxygiver that has not issued specific instructions.  Both votes would be vakid,



Thread: Proposal for Community to supply phone, TV and internet.

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31 Dec 2021 9:33 AM:

Antonio1, Section 17, paragraph 1 of the Horizontal Property Law states the following:

"The establishment or elimination of the lift, janitor and security services, or other common services or facilities of general interest, even where they involve the modification of the master deed or the community statutes shall require the favourable vote of three fifths of the total number of unit owners representing three fifths of the assessment quotas."

This is the qualified majority of votes required to pass the resolution you are referring to.



Thread: Proposal for Community to supply phone, TV and internet.

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22 Dec 2021 11:38 AM:

GuyT, that is oK for inheritance tax since there will be no transfer of assets upon death of the grantor.

 However, as I said much earlier, the imputed tax is levied on all real estate property that is used by the owners, so having a wife or family member living in one and the husband or family member living in the other one does NOT avoid the imputed income being added to the tax base of the owner.  This applied to both residents and non-residents and to all property used by the owners, primary residence, holiday residence or any other residence available for owner use whether it is used or not.

The strategy mentioned by Kavanagh does not work.

The only possibility might be by signing a rental contract with a family member, but there needs to be proof that the family member is paying actual rent at market price.  If the family member is the wife, even this does not work if like, most couples, the tax is paid by the family unit, because there are tax advantages iin doing so, although not for the imputed part of the income.

 

 


This message was last edited by lobin on 12/22/2021.
Thread: Non res tax- ouch!!

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20 Dec 2021 7:07 PM:

Kavanagh, I believe you are confusing tax on rental income and imputed tax. These are two entirely different things.

Rental income is an income that has been received by the owner of the property and as such, it is not an imputed or notional tax.  The imputed tax on self used property is a tax on income that has not really been received but it should not be considered a deemed letting or deemed rental.

The imputed tax levies the economic benefit that the taxpayer receives from his own property.  I can see why you are confusing the two but when a property is let out, the owner is not using it, but rather deriving real income that is subject to tax.  When the owner uses it he is obtaining a benefit (similar in a a way to a benefit in kind) from an investment and it is this benefit that the imputed tax considers as income.

Resident tax payers just add this imputed income calculated in the manner the law dictates to their  general tax base of income from all sources.  The tax rate varies depending on the total tax base.  

For second properties, if they are let out, the rental income is subject to tax and added to the general tax base.  If the second property is used by the owner, then he must add the imputed income to the general tax base.  In the case of mix situation the imputed tax is calculated in proportion to the amount of time that the property has been available for use by the owners, that is, not rented out.

I hope this helps in clarifying things.

 



Thread: Non res tax- ouch!!

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20 Dec 2021 5:25 PM:

Kavanah, this imputed tax on property used by the taxpayer (both residents and non-residents)  applies as well to primary residences.  It is not applied only on second or holiday residences.  If you own your primary residence, the imputed or deemed income is subject to tax.  The method you mention to avoid this tax does not work.



Thread: Non res tax- ouch!!

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