Measures are being made to impose a punitive level of tax on multi-homeowners who have more than two or three houses and speculative traders who buy and sell within a year or two.

It is said that the demand for speculation will be eliminated to the extent that it raises the tax on holding tax and transaction tax proposed in the December 16 of last year and the June 17 real estate measures this year.

The government and the ruling party are aiming to pass in the form of the fastest-paced'parliamentary legislation' in the National Assembly in July.

In addition to the Ministry of Strategy and Finance, according to the Democratic Party, the government and the ruling party are planning to submit legislation to the National Assembly such as comprehensive real estate tax and capital gains tax this week.

This move by the government and the ruling party is linked to President Moon Jae-in's order to "strengthen the burden on speculative homeowners such as multi-homeowners."

From the perspective of having to give a stronger penalty to people who buy and sell their homes as a means of speculation, they are looking at a punitive level of taxation that goes beyond normal income taxation.

From this perspective, the government and the ruling party regard the measures to strengthen the holding tax (property tax and general real estate tax) as a priority.

The government has proposed a method to impose a comprehensive real estate tax rate of up to 4.0% on multi-homeowners through the December 16 measures, but it has not been handled by the 20th National Assembly.

The government is considering a plan to reduce the basic tax deduction (600 million won, 1 billion won per first-generation homeowner) and to lower the vote period.

In addition to the closing tax, a method of strengthening property taxation, which forms an axis of holding tax, is also discussed.

In order to block speculative short-term sales, we are also considering ways to increase the capital gains tax rate for homes held for less than two years.

We are also considering ways to further increase the middle tax rate on transfer tax for multi-homeowners and to increase the retention and residence period that provides non-transfer tax benefit.

Conversely, for the first time in a lifetime, such as youth and newlyweds, measures are being taken to ease the tax burden by reducing the acquisition tax.

The government and the ruling party are pursuing a plan to submit such amendments to the legislative legislative assembly this week through the secretary-general of the ruling party of the Ministry of Strategy and Finance.

The plan is to submit a tax amendment plan that includes both the December 16 measures, the June 17 measures, and the taxation measures added this time to the National Assembly by the lawmakers of the week, and to pass it in July.

(Photo = Yonhap News)