Tax breaks to promote new housing?

1st April 2014

Concerns about the shortfall in Guernsey’s housing stock has prompted the States Treasury and Resources Department to suggest that Document Duty (3% of the purchase price) be suspended on newly-built houses to encourage more building.

Tax breaks are also being considered for people saving towards house deposits.

Owners of empty houses (there are currently 334 vacant properties) could be penalised with higher rates of TRP (Tax on Real Property).

Discussions on the proposals continue between the States Treasury and Resources and Housing Departments.