Imputed Rental Income Tax is an additional burden

Monday, 1 July 2024 00:00 - - {{hitsCtrl.values.hits}}

Many owners of houses (that are somewhat small) located in Colombo have given these on rent and have moved to more spacious houses in the suburbs.

This they are compelled to do when family members increase when their children get married. The rent received from these houses is not enough to pay the rent for the relatively bigger house. Inevitably they have to pocket out an extra sum of money to bridge the difference.

With the proposed imputed rental income to be implemented in mid-next year, this will become an additional burden for the home owners who have given their houses for a smaller rent and paying a bigger amount for the occupation of a larger house. Hope the President will rescind the move to impose the “Imputed Rental Income” for the above reason.

Mohamed Zahran

Colombo