Oh, so GP was just incorrect in calling this a tax on gains. That explains why repeat buying and selling incurs more tax.
Large sales tax on home purchases is probably a generally bad idea. Looks like Bay Area pricing would incur a 10-12% tax under the UK scheme which seems pretty crazy.
Oh, so GP was just incorrect in calling this a tax on gains. That explains why repeat buying and selling incurs more tax.
Large sales tax on home purchases is probably a generally bad idea. Looks like Bay Area pricing would incur a 10-12% tax under the UK scheme which seems pretty crazy.