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The Rest Is Money cover image

69. Does debt really matter?

The Rest Is Money

NOTE

Debt management and implications of capital gains tax on residential properties

Debt management is crucial as expensive borrowing can lead to repayment challenges and potential intervention from entities like the IMF. Capital gains tax on residential properties, including primary residences, could potentially generate significant revenue but may deter mobility in the housing market and hinder downsizing efforts. Imposing capital gains tax on all residential properties could be impractical, discouraging property sale and negatively impacting first-time buyers. Incentivizing downsizing through tax breaks, such as waiving stamp duty, could help address the housing crisis by reallocating property ownership more efficiently. Suggestions like a potential 'bedroom tax' or reforming council tax based on unused bedrooms have been discussed as means to encourage efficient use of housing space.

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