oh dear oh dear

Guest · Post by **Guest** » Fri Aug 29, 2003 6:03 pm

anyone wanting to buy a house had better read this weeks "News" headline.

e-richard · Post by **e-richard** » Fri Aug 29, 2003 6:17 pm

Panic not.

While I find the premise that the tax authorities assume that you can afford to buy a house that is 5 times your income quite amusing, this piece of legislation is simply aimed at finding people who have evaded (not avoided) paying tax on their income. They have simply used the point of purchase where one pays (and cannot avoid paying) SISA tax as a trigger to find anyone evading taxes on the money that they use to buy the house.

If you are buying a house with money that has been fairly taxed, then you should have little to worry about - but as they always say, don't take my word for it, take personal advice from an expert (and pay for that advice).

Guest · Post by **Guest** » Sat Aug 30, 2003 12:13 am

well since my income is now geared to my savings which produce the huge amount of 3% (less tax) ..i can only buy my house with capital.

i can well imagine the difficulty of trying to explain to some portuguese tax man how one lives on only 2% net a year without dipping as i do constantly into capital to survive...but then i will remember your great words of wisdom e richard and also those in the arena who cried out
"those who about to die ... salute you"

the point of the article is that this is yet another attack on anyone trying to buy a house here....there will come a time here at the pace this government is going when no one will buy a villa here at all.

guest 5 · Post by **guest 5** » Sat Aug 30, 2003 1:49 pm

Surely this does not affect those non residents who bought using money imported from whereever?

Guest · Post by **Guest** » Sat Aug 30, 2003 6:30 pm

frpm my understanding information is now being passed from one tax man to another in our single market.....pity the benefits are not shared so easily