The Property Rental Market Development and Regulation Act (租賃住宅市場發展及管理條例), which is to give tax deductions to landlords who entrust their properties to a management facility, was passed by the Legislative Yuan yesterday.
The rule was proposed by the Ministry of the Interior to encourage landlords to use professional management firms so they would be encouraged to lease properties to meet a growing demand for rentals.
Under the act, landlords who hire firms to manage their rental properties will be exempt from paying income taxes on the rent they collect if the monthly rent is under NT$6,000, and will be given a 47 percent tax deduction if the monthly rent is between NT$6,000 and NT$20,000.
Properties that command monthly rents of more than NT$20,000 will not qualify for tax deductions, the act states.
Local governments should formulate bylaws to grant landowners who meet those conditions tax deductions for up to five years, and the Executive Yuan could extend the tax deductions offer by another five years, the act states.
The act also includes provisions to provide landlords and tenants with more protection after a rental agreement is signed.
Landlords are to be prohibited from charging tenants surety bonds more than the sum of two months’ rent and those who run misleading or deceptive advertisements for their properties could be fined between NT$10,000 and NT$50,000.
Tenants may end their rental agreements if their landlord fails to fix problems with the rental properties, the act states.
Property owners may terminate a lease if a tenant is late with the rent for up to two months, subleases the property to a third party without obtaining the landlord’s consent or refuses to pay for damages they cause, the act states.
The ministry is to help landlords and landowners in establishing non-profit organizations to resolve disputes, offer legal advice and translation services, and answer queries about insurance packages, the act stipulates.
Lawmakers also passed an amendment to the Act Governing Relations with Hong Kong and Macau (香港澳門關係條例) aimed at reducing the tax burden on Taiwanese sea and air carriers operating in the two territories.
The legislation came on the heels of the passage of an agreement this month that prevents repeated levying of business and income taxes for Taiwanese sea and air carriers operating between Taiwan and Macau.
Mainland Affairs Council Minister Katharine Chang (張小月) during preliminary reviews said that the amendment would provide the nation with a legal basis when negotiating mutually beneficial tax rates with Hong Kong and Macau, which is expected to boost the competitiveness of Taiwanese sea and air carriers, and attract foreign investment.
Trips for more than 100,000 international and domestic air travelers could be disrupted as China launches a military exercise around Taiwan today, Taiwan’s Civil Aviation Administration (CAA) said yesterday. The exercise could affect nearly 900 flights scheduled to enter the Taipei Flight Information Region (FIR) during the exercise window, it added. A notice issued by the Chinese Civil Aviation Administration showed there would be seven temporary zones around the Taiwan Strait which would be used for live-fire exercises, lasting from 8am to 6pm today. All aircraft are prohibited from entering during exercise, it says. Taipei FIR has 14 international air routes and
Taiwan lacks effective and cost-efficient armaments to intercept rockets, making the planned “T-Dome” interception system necessary, two experts said on Tuesday. The concerns were raised after China’s military fired two waves of rockets during live-fire drills around Taiwan on Tuesday, part of two-day exercises code-named “Justice Mission 2025.” The first wave involved 17 rockets launched at 9am from Pingtan in China’s Fujian Province, according to Lieutenant General Hsieh Jih-sheng (謝日升) of the Office of the Deputy Chief of the General Staff for Intelligence at the Ministry of National Defense. Those rockets landed 70 nautical miles (129.6km) northeast of Keelung without flying over Taiwan,
The Ministry of National Defense (MND) today released images of the military tracking China’s People's Liberation Army (PLA) movements during the latest round of Chinese drills around Taiwan. The PLA began "Justice Mission 2025" drills today, carrying out live-fire drills, simulated strikes on land and maritime targets, and exercises to blockade the nation's main ports. The exercises are to continue tomorrow, with the PLA announcing sea and air space restrictions for five zones around Taiwan for 10 hours starting from 8:30am. The ministry today released images showing a Chinese J-16 fighter jet tracked by a F-16V Block 20 jet and the
City buses in Taipei and New Taipei City, as well as the Taipei MRT, would on Saturday begin accepting QR code payments from five electronic payment providers, the Taipei Department of Transportation said yesterday. The new option would allow passengers to use the “transportation QR code” feature from EasyWallet, iPass Money, iCash Pay, Jkopay or PXPay Plus. Passengers should open their preferred electronic payment app, select the “transportation code” — not the regular payment code — unlock it, and scan the code at ticket readers or gates, General Planning Division Director-General Liu Kuo-chu (劉國著) said. People should move through the
RSS