politics

Japan to keep tax cuts for home, car buyers to help virus-hit economy

16 Comments

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Property tax, which was initially supposed to increase in fiscal 2021 due to the trend of rising land prices in recent years, will be kept at the same level as fiscal 2020 in all commercial and residential areas where tax hikes had been scheduled.

The measure is meant to reflect falls in land prices following the coronavirus outbreak and lessen the financial burden on taxpayers battered by the pandemic.

I see the government feels the pain of property owners in this pandemic. If only the taxes on food, or "residency tax" for just maintaining an address were similarly lowered to reflect many people's sudden losses during this pandemic.

11 ( +12 / -1 )

Car and housing tax cuts really benefit the companies who sell these products, not so much the people. As stated above, a reduction in city/prefecture tax and consumption tax on food would benefit the average Joe and Jane much more. If the government really cared about their residents.

8 ( +11 / -3 )

I see the government feels the pain of property owners in this pandemic. If only the taxes on food, or "residency tax" for just maintaining an address were similarly lowered 

Homeowners are the government's prime milk cows - they keep the money coming in for the politicians. They probably figure poor people are not worth helping, since they are costing money. This is how they view us, as livestock.

8 ( +9 / -1 )

really pointless "action" for everyday people...sorry..thumbs down in my case

1 ( +3 / -2 )

Who in the world has the money to buy a house or a car nowadays?

Those tax cuts are nothing but so-called tax cuts.

The government will collect all that money again sooner or later by increasing other taxes and "social contributions"!

2 ( +3 / -1 )

Disgraceful again from Suga, nearly all of the 73 trillion only benefits the main companies and the politicians but all paid for by taxpayers.

shameless.

3 ( +4 / -1 )

Tax cuts for foreign residents earning less than 20man please.

0 ( +2 / -2 )

In 1995 they changed the mortgage tax right-off for house purchases and condos to 15 years. Make it the life of the mortgage.

0 ( +0 / -0 )

@Matej

really pointless "action" for everyday people...sorry..thumbs down in my case

Exactly, out of the many things they could do to help the people that have been affected the most they choose to help people buy houses and cars.

2 ( +3 / -1 )

People spin it towards the farmers heavily subsidised and their products pushed on every TV channel then taxed again when you buy. With no competition. It's time for a new spin car makers "Pride of Japan" ((those robots are so amazing) and the foreign workers are also the pride of Japan untill their visas expire?

Buying a house, good luck on a part time, full time job?

A new car? How the hell can someone on ¥200,000 a month do that?

Goverment workers paid exobantly high tax money have forgotten about how hard life can be. It's a pie in the sky idea designed solely for bueuracrat and political self pride has nothing at all to do with making the people's lives easier or better.

1 ( +2 / -1 )

If you can afford to buy a new car or a house in 2020 then you don’t need financial help from the government. What about those struggling to pay bills and child care? Is it not better to give another ¥100k type payment to everyone rather than helping rich people?

2 ( +3 / -1 )

As pointed out by other posters, this only seems to benefit people who are already able to buy new houses and cars, and are thereby by definition already well off. If you're one of the many, many people (more than Japan would like to admit) who have to buy used kei cars and need cheap apartment rent to get by, well, tough luck.

But this kind of lifestyle is almost incomprehensible to the LDP and the upper crust of Japanese society, and doesn't pad the coffers of top companies, so it is what it is.

1 ( +2 / -1 )

Start by reducing shaken and road tax for all cars, not just tax breaks for people who have the means to elect to buy new cars. Then we'll talk.

1 ( +2 / -1 )

The businesses that market these goods, not so much the people, actually profit from automobile and housing tax cuts. As mentioned above the ordinary Joe and Jane will gain even more from a cut in the city/prefecture tax and sales tax on food. If their people still cared for the administration.

0 ( +0 / -0 )

If realized, the reform package will entail state tax cuts worth 50 billion yen ($480 million) to 60 billion yen,

A percentage increase in the consumption tax rate is worth a couple of trillion yen, so this package is just fiddling, frankly.

0 ( +0 / -0 )

-All of you are getting something or got something already from the government.

-Either free money or the free travel or the free vaccine you will get soon.

-Stop being so greedy and ungrateful. It's not all about you all the time.

1 ( +1 / -0 )

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