The Rent Tax That’s Got Young People Worried

A worried person. Photo credit: (AP Photo/Paul Sancya)

Life in this country is a great struggle, especially for the young adults.

There are too many things working against the dream of young people to live a happy life.

While they are battling the rising cost of tertiary education, they are also contending with unemployment.

Those that are fortunate to secure employment are also faced with accepting jobs with low salary levels.

With little or no income coming in, the cost of living is rising. Fuel goes up, transportation cost goes up, food cost is going up and rent is also rising.

Then there is also the challenge of being able to raise at least two years of rent advance while the law says 6 months.

Now the rent issues are about to compound with the Ghana Revenue Authority indicating that it is going to start charging tax on rent.

According to reports, it has already been the regulation that landlords are supposed to pay 8% and 15% on residential and non-residential rents respectively.

Now that it is going to be implemented, many fear that the tax will be passed on to the tenants. This will effectively increase the cost of the rent which is already high.

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Many are drawing on the irony of the rent tax, especially when the government has not delivered on its promise of instituting a rent payment mechanism for Ghanaians.

Source: Kuulpeeps.com

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