Motion 3: May 8, 2019
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Motion 3 – Resolves to have the Minister of Finance make the necessary changes within the tax system to introduce an exemption from the transfer tax time home owners for a home not exceeding a purchase price of four hundred and fifty thousand dollars. Resolves to have Minister draft the necessary legislation to accommodate this amendment within 6 months and report back to parliament within three months to update parliament on the progress. Resolves to have the Minister include in the amendments that the exemption is only permitted for personal home purchases and residents of Country Sint Maarten. This exemption does not include purchases from registered business or foundations such as N.V’s, B.V.’s or Foundations of the sorts.