New tax on family homes was mooted

Government officials considered imposing a new tax on the sale of family homes in last year's budget.

Currently, homeowners do not have to pay the 33 per cent capital gains tax rate on any profits they make from selling the house that they live in.

This exemption does not apply to second homes or other property.

But as part of the preparations for last year's budget, officials suggested that this tax exemption for ...