Additional Dwelling Supplement Rebate

While agreeing with the principal of ADS the current crisis does highlight an anomaly when claiming a rebate. Under the current regulations the ADS can only be reclaimed if the main residence is sold with 18 months. I suggest that this should be extended to cover the sale of either property, the main residence or the second property.

Why the contribution is important

With all the uncertainty in the property market there will be people that had purchased a new property before lockdown with the intention of selling the main residence and moving. With these plans now abandoned, if the the second property has to be re-sold instead then the ADS paid will be forfeit. Allowing that to be reclaimed will perhaps help stimulate the economy. To avoid abuse this should only be applied to second properties that have not been rented or improved in the interim.

by Tattiebill on May 10, 2020 at 02:23PM

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