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At present (and in the past) capital gains tax on real estate is zero rated.
"Imagine I told you that there was a Western country where there was no capital gains tax, no estate or death taxes, no wealth tax, no transfer tax or stamp duty, unlimited deductibility of losses (paper or real) in one enterprise against profits in another, no limit to the amount of mortgage interest you can deduct against income, and generous depreciation rates based on purchase price and not written-down book value as passed on from owner to owner. Would this pique your interest? What if I went on that capital growth in this country had averaged 10 percent per annum for the last 100 years, that there was a stable political environment, and that the country in question was an extremely desirable place to live. Would you think of going there to invest?"
Dolf de Roos, author of Real Estate Riches, How to become rich using your banker's money and also advisor to Robert Kiyosaki, author of Rich Dad Poor Dad.
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