Topic: stamp duty
Real estate industry absorbs impact of stamp duty increase
Cayman’s new top tax rate for high-end properties is likely to have some initial cooling effect but no drastic long-term impact on the islands' property market, realtors believe.
Businesses react to hikes in government fees
There was a mixed reaction from Caymanian business community, following higher fee levels announced by the government late on 14 Nov.
Anglin announces massive fee hikes
Minister for Finance and Economic Development, Rolston Anglin, revealed significant increases to a wide-range of fees paid by foreign individuals and companies.
Cayman property market split in two
Cayman’s mid-range residential property market has seen both prices and transaction volumes cool in recent years, yet the luxury segment continues to outperform.
Stamp-duty threshold raised for Caymanians, all locations included
First-time Caymanian buyers of property valued up to $550,000 will no longer have to pay stamp duty, with the new threshold applying regardless of location.
Hundreds of Caymanian families used tax rebate to buy first home
Almost 900 Caymanian families were able to get their foot on the first rung of the housing ladder through government's stamp duty waiver for first time home buyers.
Uproar after Butterfield stamp duty collection glitch
A late afternoon email from Butterfield Bank to its customers in Cayman announcing that they would be charged retroactively for unpaid government stamp duty on debit transactions led to an avalanche of complaints on Thursday.
Opinion: In the midst of a ‘housing crisis’ why are the poor subsidising the...
It is time for Cayman, its elected representatives and its people, to think of some fresh ideas to address the jurisdiction's housing crisis.
Plans for stamp duty hike shelved, says premier
Government is rethinking plans for a stamp duty hike on luxury property – less than two months after floating the plan.
Lawyer: Cost of living impacting divorcing couples
The seemingly ever increasing cost of living in Cayman is impacting everyone, among them divorcing couples who are having difficulty paying for lawyers or making arrangements to set up separate single-parent homes.
Stamp duty exemptions for first homes valued up to $550,000
Premier Wayne Panton on Friday announced a plan to raise property values for full stamp duty exemptions for Caymanian first-time home buyers.
Parliament unanimous on lower stamp duty for Caymanians
Lawmakers debated changes to stamp duty rates for Caymanian property buyers in light of rising land prices and deteriorating financing conditions on Thursday.
$1.43 billion in real estate transactions bring record government revenues
Cayman’s real estate market broke many records last year, as both the number and the value of property transfers set record highs.
Panton: Slowing development won’t automatically make Cayman sustainable
Government expects to rake in significant income from property taxes over the next two years with Cayman’s development boom showing little sign of slowing down.
Record collection of stamp duty in second quarter
Government stands to collect almost $34 million in charges and stamp duty from land and property transfers in the second quarter of this year.
Property stamp duties help contain budget deficit
Revenue from stamp duties on land transfers exceeded the initial 2020 projections by $20.6 million.
Bovell: Changes in stamp duty – what it means for buyers
By the end of this year the Government will close the loophole in the law that allows buyers to only pay stamp duty on the cost of the land on which their property will be built, should construction not yet have started and not again later on once the property has been completed (the so-called two-contract transaction).
Casas in the sky: First ‘air parcels’ approved in Cayman Islands
Owning a little piece of the rock has long been part of the Caymanian dream. Now, for the first time, homeowners can buy a slice of the sky.
EDITORIAL – Licking the government’s stamp duty issue
If there is one place on the planet that should have a simple tax structure, it is the Cayman Islands. So why are lawmakers considering adding more complexity to our country’s stamp duty regime on property purchases?
Stamp duty change could impact development boom
Buying a new home in the Cayman Islands is about to get more expensive – at least for some.
Bills tabled on immigration reform, workforce development agency
Bills to establish a new workforce development agency, to create new concessions for first time Caymanian home buyers, and to increase penalties for illegal gambling are among those scheduled for debate at the next session of the Legislative Assembly.
EDITORIAL – Chasing the ‘missing millions’: Don’t.
“Public Reminded of Stamp Duty on Leases” — That was the government’s casual, almost offhand way of announcing its intention to extract unknown millions of dollars from an unwitting public, through stamp duty payments on residential rental agreements.
Government chasing millions in unpaid rental taxes
Government officials are going after millions of dollars in unpaid taxes on rental properties.
$100 ruling may set stamp duty precedent
A disputed stamp duty assessment on a land purchase in South Sound – amounting to a $100 difference in what was charged to the buyer – could have major ramifications for the Cayman Islands property market.
