Tuesday February 9th, 2010
- Last update:13 hours 7 min ago
Booze, smokes go up
Published: 8 Sep 2009
Finance Minister Karen Nunez-Tesheira announced yesterday the immediate imposition of higher taxes on cigarettes and alcohol, increased the penalties for reckless driving, and signalled that property owners will have to fork out higher taxes from January 1, 2010.
This as Tesheira presented her second budget in as many years. It lasted three hours and seven minutes in the Parliament Chamber, Red House, Port-of-Spain. During her presentation, Opposition MPs, including Subhas Panday, were heard saying the budget did not contain any new initiatives. Prime Minister Patrick Manning was seen putting his finger on his lips, advising Opposition MPs to remain silent and listen.
The budget, in which the Government projects it will spend $44.3 billion from October 1, 2009, to September 30, 2010, was predicated on a “conservative” oil price of US$55 a barrel, and a natural gas price of US$2.75 per million cubic feet. Minister Tesheira said the projected deficit was $7.7 billion, or 5.3 per cent of the Gross Domestic Product. Confirming an $11.5 billion budget shortfall in last year’s package, Tesheira said that was caused not only by the decline in oil and gas prices, but also reduced prices of other petrochemicals.
Stiffer penalties
She outlined “significant increases in penalties” for certain road traffic offences, “in an effort to maintain order and safety on our nation’s roads and to deter road traffic offenders.” The Government was proposing that for use of a vehicle without park lights, improper overtaking on the left side of the road, overtaking traffic at a place dangerous to do so, exceeding the specified speed limit, the penalty would be increased from $200 to $2,000. And for using the Priority Bus Route without authorisation, delinquent motorists would be fined $2,000, instead of $200.
For motorists who instal illegal tints on their vehicles, “we propose to apply a fixed penalty of $2,000. “A fixed penalty of $2,000 will be applied to motor vehicles that are not fitted with seat belts.” Tesheira stressed that Government would table legislation to make the use of child restraints in cars mandatory for children five years of age or under. The excise duty on local rum, beer and other alcoholic products would be increased by 15 per cent from today. A 30 per cent increase is being imposed on those beverages from outside the Caribbean.
Tesheira also said the Government also proposed to introduce a new four-tiered property tax regime, based on the present market values of properties. “In the case of residential, commercial and agricultural properties, the tax will be three per cent, five per cent and one per cent, respectively,” she added. She said Motor Vehicles Transfer Tax is to be increased by 50 per cent.
She announced a stimulus package for small contractors which would “stimulate” the construction sector via building and refurbishment of community centres, health centres, schools, early childhood care centres, police stations, recreation centres and city/borough sidewalks. The budget debate resumes on Friday at 10 am when the Opposition will reply.
NEW MOTOR TAXES
■ Used cars other than motorcycles over ten years old, from $100 to $150
■ Used cars over seven years, but not more than ten years, from $900 to $1,350
■ Used cars over five years, but not more than seven years old, from $2,000 to $3,000
■ Used cars over two years old, but not more than five years old, from $3,000 to $4,500
■ Used motorcycles, not exceeding 250cc, from $100 to $150
■ Used motorcycles exceeding 250cc from $200 to $300
■ And the cost of renewing drivers’ licences will increase from $200 to $500 every five years
The Lone Crusader You call
The Lone Crusader
You call this a budget? You regurgitate everythings that been announced at Post Cabinet Media Conference and after blabbering away for 3 hours you finally get ot your point.
A lame attempt to get revenue from home owners
Revenue from traffic offences? The roads are not policed, Miss Finance Minister. Who's going to charge people?
Are you punishing property
Are you punishing property owners, Madame Minister? It appears that if we own a home for which we sweated blood to build or acquire, we are being punished for daring to be so naughty? It might have been better to have done some introspection and trim the fat from the government 'beer belly'. Begin with CHOGM, and move to the contract section which deals with awarding those juicy foreign contracts. Bye bye goodlife, it's deja vu: it's 1987 here again, this time with perhaps a more virulent strain of the 'Dutch disease'.
ajfyzabadbutlertown
Help me out here. According
Help me out here.
According to the budget wording, there will be a 3% property tax on the market value of homes. So :
1). How will the market value be determined ? Will each home owner now have to pay for an up to date valuation?
2). If a basic home is valued at 1.0 M$, then at 3% the property tax will be $ 30,000 ?
Can this be real ?
Ouch .....
Amirjairam
Amirjairam
Are you punishing property owners, Madame Minister?
If I am not mistaken, wasn't there a campaign to encourage people to become home/property owners?
I think the executive of Trinbago PLC ought to be sued for recklessness and entrapment!
lahaina - is it still possible to buy a 'non-governmental property' for under TT$1 million? The last time I dared to peruse the property websites, I found most properties were priced as well in excess!
As for the revenue raised from the 'traffic offenses'... where exactly is that money going to be used?
La Diva
La Diva, 'Come September'
La Diva, 'Come September' was a nice movie. But come November, the movie's name is 'Commonwealth Heads'. Guess who is the starboy? Then we go see where most of the money will be going. Will you be there to witness the first cricket match at Tarouba?
But seriously, did you take notice of the fact that there is no housing subsidy for the working people who make over $75Kttd? In other words, allyou pay allyou way. Now, doh get me wrong, I'm all for helping 'poor people'. Being a 'poor man' myself, isn't it fair that at some point in my life at least some of my taxes will be given to me to make me comfortable in my lil 'jupa' in my 'old age'?
But one thing for sure, look out for roadblocks at night. Don't be surprised if a policeman stops you and asks you to switch off you lights and then give you a ticket for not having any parklights!!!
ajfyzabadbutlertown
amirjairam
amirjairam
Will you be there to witness the first cricket match at Tarouba?
You think we will ever see 'invites' for that!?! But will get my staff to look into it. (^_~)
Did you take notice of the fact that there is no housing subsidy for the working people who make over $75Kttd?
Sadly yes, I did notice that. I wonder how much of the population (other than private doctors, dentists, lawyers, accountants and politicians) earn over TT$75k but less than $200k.
But one thing for sure, look out for roadblocks at night. Don't be surprised if a policeman stops you and asks you to switch off you lights and then give you a ticket for not having any parklights!!!
This won't affect me. I will be taking delivery of a florescent pink whirly bird which will transform itself into a UFO and powered by 10 reindeer, just so that I can be different... (^_~)
La Diva
Wait a minute! Am I getting
Wait a minute! Am I getting this right, road safety plays second fiddle to road fines? Madame Nunez--Tesheira in search of revenue relies on people breaking the law and to make matters worse, the Prime Minister is heard to utter "TAKE THAT" [in yuh puefin]. Some budget!
Rik Hansel
...a shameless budget from a
...a shameless budget from a shameless lady....a stark admission of failure....
Nothing changes under the
Nothing changes under the PNM. When under financial pressure, put more pressure on taxpayers.
Lone Crusader is also right in stating that it makes no sense increasing traffic offense fines when there is virtually no one to enforce the laws. Has anyone ever been charged for driving without a seat belt? Just look around while you're driving and see how many people drive without seat belts. Passing a Breathalyzer law will suffer the same fate.
From her snickering and
From her snickering and laughing throughout the long, boring presentation, riddled with her questioning herself if the year 2009 was right or not, or even if September 8, 2009 was a retroactive date, we can only assume that the Finance Minister was seeing this budget for the very first time. Her contempt for us as taxpayers and citizens of this fair land is very open.
3% on the annual rental
3% on the annual rental value, so we have to get an assessment of the rental value. is that how you read it. 3% as one pointed out is 30K$TT per year, thats a lot of money for people. In the UK we pay council tax at about 10,000 TT$ equivalent, based on type of home (# of bedrooms), and area you live in, but this is for all public services inc sewage, police, fire services, schools etc. We dont pay property tax based on rental value. is this 3% in addition to land tax? so much for the oil and gas benefitting the public, now they are taking back from TT citizens to pay for crappy projects.
I wonder...
I wonder...
If the shareholders of Trinbago PLC were to boycott this property tax, what would happen?
Could they lock us up?
There are sure to be people 'exempted' from paying this tax. Who are they? Government ministers and retired politicians? People owning 'holiday' homes in Toco etc?
What about the people who have been given properties by the government on the basis that they were in need of housing and could not afford their own? And now have to find 3% of the value or rental value of the property? Will they be exempt from the tax or will the government pay it?
La Diva
Dey madder dan Crazy oui. 3%
Dey madder dan Crazy oui.
3% property tax?
Good ting I eh revalue meh newly renovated latrine. Raymond & Pierre and all dem "legit" valuators go see a bright Christmas dis year.
http://dsaltsman.blogspot.com/
Wait nah, which one of you
Wait nah, which one of you guys came up with this Trinbago PLC thing? Allyuh really feel we worthy of being listed on a stock exchange? Come nah man!!!! You know our share price would have been falling real bad all now!!! Allyuh know about "going concern" when it comes to investing in stocks? Well doh study it cause I eh know either, lol, but my lecturer says is the assumption that a business will exist into the future when yuh invest in it i.e. NOT GO BANKRUPT...Who here feel we won't be broke in about a 10-15 years at the current rate?...and allyuh taking Trinbago PLC...is more like Trinbago parlour.
On a serious note, it should now be clear we following the same cycle as the 80s. PNM policy - spend money yuh doh have then lose a general election. At that point, the treasury empty anyway so it have no money to thief and the next NAR (COP) go take over. BUT ALLYUH LIE!!! I going and vote PNM fuh spite!! Just to let Manning get a taste of running a broke country for five years that he mainly responsisble for.
Nicholas Darling
Nicholas Darling
(purrs La Diva)
I am the one who came up with Trinbago PLC. Not, from the perspective of being listed on the stock exchange, but from the perspective of ownership, attitude, accountability, transparency and if the management team do not perform or they misbehave, we the 'shareholders' can and will remove them.
It is also about us, as 'shareholders' not sitting back and thinking 'the management team' know what is best for us, but that we want dividends (!), profitability, cost effectiveness, good negotiators, audits (!), value for... our money.
It is our money whether it is from the natural resources (oil, gas, steelpan), other income (tourism, Carnival), taxation (!) of Trinbago.
If Team Manning and previous governments thought like 'businessmen' do you (and anyone else) really think we would be in this mess? People get hired and fired for their (lack) of performance in the corporate world. Why should we, the shareholders, accept anything less from the Trinbago government?
I am not saying there isn't wastage or nonsense that goes on in the corporate world/PLCs but there is, in my opinion, more accountability, responsibility etc because... in the olden days, governments did not bail them out - today, is a slightly different matter.
Forget 'politics'. I have been thinking for sometime now Trinbago ought to be run like a business. Based on the amount of money that has flowed through this country and been squandered over the past 47 years... we could have been 'as big as Microsoft' if that money had been properly, wisely and prudently invested; instead, what are we? Piddling along like some 'third world country' inspite of our revenues and for which a new category other than 'first world' would have had to have been created.
We, as 'shareholders' of Trinbago PLC (^_~) would be receiving dividend checks; the budget would have to be in surplus rather than deficit; 'everyman Jack' would be accountable for their 'departments' and have to know full well how much their projects were costing; completion dates (!); who their suppliers are; no 'half-baked' statements with numbers not matching up and then saying we are bringing in a consultant (more money again!) to review the process; I could go on, but I won't. (^_~)
We, as nationals (shareholders) should be seeing a summary of 'income and expenditure' on an annual basis, just as a PLC would have to provide. If I remember correctly, there are governmental departments who have yet to submit accounts for a number of years now!
Our assets - stadium, schools, governmental buildings... if we thought like a PLC, there would HAVE to be a programme of maintainance; keeping up with technology; remaining 'competitive'; upkeep of our assets; and our course, our people! They would be returningin their droves rather than 'can't wait to leave' attitude.
The devaluations (official and unofficial) of our currency! Borrowing money from the IMF! Really and truly. If we start thinking more like business people I am certain Trinbago (PLC) will be a wonderful place. Ask any business person/entrepreneur, the statisfaction of 'working for yourself and knowing that YOUR hardwork is paying off.
We, as nationals, need a mind set change (this 'we must like it so' has got to stop - this feeling of helplessness); a belief that we are owners of Trinbago (PLC) and when you start thinking in terms of 'business' and ownership, one's stance, one's thinking, one's pride (!) evolves and as a shareholder, just as you would not accept bad/mismanagement of your company, we should not be accepting it from the 'executive of Trinbago PLC'. Capiche?
It appears 'we' are acquiring the 'very expensive toys' - ships, blimp, high rise buildings, helicopters, stadia (should they ever be completed), buildings to 'house' the diplomatic staff, a mansion to house our CEO (that the Chairman's residence is falling apart...), etc - but the powers that be are behaving as if they have a blank cheque! Yet, as a business, one could not do that!
Oh, and one more thing. Do you think the head of a division, of a respectable, credible PLC could stand in front of their peers at a 'finance board meeting' and be giggling/laughing? Or the CEO would be telling the attendees "shush"?
I hope that satifies your curiousity and hopefully, we are in agreement. (^_~) Now, if you do not like the name Trinbago PLC, please feel free to comeup with your own name. As much as I am a diva and therefore thought to be a dictator myself, I would also like to think I am democratic... I canvass my staff's opinions and then do my own thing. (^_~)
There's got to be more to life than fighting for fish heads! ~Jonathan Livingston Seagull
La Diva
My problem is not with the
My problem is not with the name per se, its with the thought that our country is presently being run like a business...:) But, I read your last post and I understand your point of view from the perspective of what we should be aiming for. Honestly, I don't think any government can run a country like a business for a number of reasons. However, I am too tired to type them out right now so we will have to discuss that on a next occassion!
Nicholas
Nicholas
Honestly, I don't think any government can run a country like a business for a number of reasons. However, I am too tired to type them out right now so we will have to discuss that on a next occassion!
I hope I did not tire you out (^_~).
I did not mean to imply that Trinbago is currently being run like a PLC. Far from it!
Looking forward to hearing your views/reasons (and anyone else who wishes to join in the concept).
As for a government running a country like a business? It may have to be more of a 'social enterprise' rather than say a charity or a fully fledged PLC (a PLC's main aim afterall is to make a profit, but they do also have 'community programmes' and 'social awarenes programmes'...) and certainly not as what ever (starship) enterprise we have at the moment.
But!
Just think! The mere idea, the concept and the corresponding changes in mental attitude of the country, because it IS our money which is being spent willy nilly. Would it not be great, if instead of the government seeking to take 3% off of us in 'property taxes', they were to give us 3% of the "rental value" of our property as 'property dividend'?! It would be Christmas/Carnival TWICE a year! (^_^)
In case anyone is wondering, no, I have not hit my head, and no, I have not inhaled anything illegal. (^_~)
La Diva
Well said - the Finance
Well said - the Finance Minister behaved like an immature schoolgirl (no offence to all the responsible schoolgirls out there), in presenting such a serious topic. In summary, taxpayers will be responsible for pulling out the government out of its deficit, rather than the government taking a serious look at its expenditures and project overruns.
La Diva:
I used the valuation of $1.0 M$ as a math calculator only. Realistically, you may only be able to purchase a very small vacant piece of land for 1.0 M$. All in all, it's a huge, unaffordable hit on everyone's wallet, sorry.. bank loan....
Thanks lahaina
Thanks lahaina
As for the Minister's behaviour - I did not see the broadcast - is it possible she was embarrassed? That she does not believe in the viability of what she was presenting? That she is (sorry to say this as I am for women being in politics on merit) that she is a high ranking puppet?
If we as shareholders of Trinbago PLC can see the half-baked potato in this, I just cannot see how our executive cannot!
In as much as people still playing their carnival/attending all inclusive fetes, they are struggling to buy food basics. Just where are they meant to get this extra money, at the over-inflated property prices we have going on here? There are people looking to sell their property and downsize (if such a thing is possible) and they are not getting buyers.
La Diva
This is not a budget,it is
This is not a budget,it is extortion to pay for government mismanagement.
If the government insists on
If the government insists on implementing market value property taxes (with tax rates at a whopping 3%), it is inevitable that we will see a repeat of the 1980's - taxpayers unable to pay mortgages etc., and ultimately this will end in foreclosures.
Not a pretty situation.
Next time voting comes
Next time voting comes around..let us remember the budget and all the other accomplishments of the PNM..and then act.. ACT. What do we expect from the PNM? Is is shocking? Now is not the time to complain. Now is the time to find money to pay extra taxes on my property..that already costed me so much!
Well..can you imagine how much taxes Patrick's mansion would add to the coiffers??
Ah tell you...PNM is nothing but a set back. A frog government..moving backwards.. NO PROGRESS! In this day and age..why raise my property tax?
It seems that the PNM bigshots huddle together to devise plans to rid the nation of its money, progress, and self esteem.
People Need Money under the People National Movement.
SarahN
SarahN
Well..can you imagine how much taxes Patrick's mansion would add to the coiffers??
You may find the 'mansion' is exempt... I expect to hear any day now that the homes of politicians and certain 'key' officials re also exempt... (Doesn't Prime Minister Manning have a house in San Fernando?) Unless Team Manning's properties are exempt, I just cannot see how they would have sat there and not disagreed with proposal of the taxes... afterall, they only just had an increase in salary/'allowances' to pay for their offices. Where are they themselves going to get the extra monies from?
Media. We, the shareholders of Trinbago PLC need you investigate this further and find out who will be exempt from paying this and on what grounds.
Many thanks in advance.
La Diva
SarahN
SarahN
Well..can you imagine how much taxes Patrick's mansion would add to the coiffers??
You may find the 'mansion' is exempt... I expect to hear any day now that the homes of politicians and certain 'key' officials are also exempt... (Doesn't Prime Minister Manning have a house in San Fernando?) Unless Team Manning's properties are exempt, I just cannot see how they would have sat there and not disagreed with proposal of the taxes... afterall, they only just had an increase in salary/'allowances' to pay for their offices. Where are they themselves going to get the extra monies from?
Media. We, the shareholders of Trinbago PLC need you investigate this further and find out who will be exempt from paying this and on what grounds.
Many thanks in advance.
La Diva
Regarding the property tax
Regarding the property tax rates of 3%, 5% and 1%, what is the criteria?
Based on the PNM's track record, are we to assume that the owners of Government "Scheme Houses" will pay 1% or nothing at all, while the owners of private properties (Indians) will pay 5%? The taxpayers' mansion occupied by the Mannings will of course be exempt.
Zide Hosein, if it is not
Zide Hosein, if it is not too much to ask
please be responsible in your comments and do not play the race card.
Based on the PNM's track record, are we to assume that the owners of Government "Scheme Houses" will pay 1% or nothing at all, while the owners of private properties (Indians) will pay 5%?
Firstly, 5% for commercial properties; 1% for agricultural properties and 3% for home owners; (if memory serves me correct)
Whilst the Indian population of Trinbago PLC may account for almost 50% of the population, they are by no means the only ones and possibly, are not the majority of our demographic who have 'private properties'.
Secondly, you are misquoting the figures. What chance do we have to combat the problems we have in Trinbago, if we get sloppy and misquote!
Therefore, please exercise a degree of responsibility in your comments (even if our government is unable to) and see this as a problem for ALL of Trinbago PLC and not just the 'Indians'.
Thank you in advance.
Be the change you want to see in the world. ~ Mahatma Gandhi
La Diva
The 3% is to fund all the
The 3% is to fund all the grandiose local government plans, like building new regional complexes and paying the salaries of the so-called highly qualified burrokeets that will man them!
Revenues from Property
Revenues from Property taxes?
We have a figure of 40mil for anticipated revenues from fines, do we have a figure for the anticipated revenues to be collected from property taxes and its share of the pie in the total revenues to be collected in this fiscal year? When is the collection to start? Are the back offices ready for the generation of bills and collection of these taxes? Does anyone perceive any fraud from the "collection"? Is the VAT collection system fool proof? In North America property taxes are equivalent to a second mortgage, does anyone realise the implication of such a tax on fixed income earners like pensioners?
Does anyone know if people in residential areas like Laventille, Beetham Gardens and Maloney (it is not my intention to ridcule here after all they are residential areas too ) would be included and who will be handling their valuations, Raymond and Pierre? Does anyone realise the potential for bobol?
whoever puts the repeal of
whoever puts the repeal of the property taxes in the manifesto for next elections is the winner.
Desmond...
Desmond...
What shall we call our (politial) party? (^_~) and please may I keep my name... La Diva...?
Signed: Me (^_^)
Bold predictions for the new
Bold predictions for the new fiscal year:
People will stop drinking beer, rum wine and brandy.
Babash (a locally brewed, illegal alcoholic drink) will be available over the counter.
There will be a babash still in every drinker's backyard.
Smokers will turn to gazette paper or black sage bush.
Marijauna will be taxed.
Traffic police will double up as revenue authority officers and will carry thick, hefty wallets.
Government will prohibit the importation of parklights and tailights for vehicles.
There'll be no more traffic jams, since nobody will dare drive for fear of getting a ticket.
Death from heart disease will decrease, since more people will die of starvation.
There will be a shortage of dirt, since people will be constructing more mud huts.
There will be more beds available in the hospitals, since people won't get sick anymore - they will just die.
Drumming and smoke signals will replace blogging online, since all electricity will be diverted to the smelters.
Normal innocent people will be in jail and criminals will roam free, since people will burglarproof their homes like a jail.
Finally, there will be a rapidly phenomenal population increase, as most people will be unemployed and will have plenty time on their hands at home.
ajfyzabadbutlertown
.... and the winner of the
.... and the winner of the budget is the police force. With the proposed increase in fines to $2,000 for traffic violations, I see the police raising bribery money to $500 if they pull you over. Anyhow, it's still a savings of $1500 for motorist.
More bold predictions: 1.
More bold predictions:
1. Mas will take place on Christmas day;
2. There'll be no more curry duck and rum, just curry duck and mauby at river limes
3. Politicians will tell the truth with a straight face.
4. Manning, Dooks and Panday will be joint prime ministers.
ajfyzabadbutlertown
The Winners in this Budget ?
The Winners in this Budget ? It really is a job creation program (JCP) in disguise...
1). The Police force - Government will be obliged to hire, to deal with all these new situations (park lites; illegal tints; priority routes; driving in a non-existent lane, etc).
2). Valuators (Raymond & Pierre and others). How else will we have market valuation assessments ?
3). Government Tax Assessors - we will need an army of them to keep the valuators honest (or choose another descriptor).
4). Clerks at City Hall. They will be more overwhelmed than they are now. If you think the current paper (manual)system is a mess, just wait for market valuation, and all the new paperwork and testaments that must come with it. Look for increased staffing.
5). Legal Staff - To deal with the citizenry protesting their new (likely increased) property valuations, and inability to pay their taxes.
I can go on and on... And how will the Government pay for their staff ? Why, through the new market valuation assessments of course(residential, commercial and agricultural).. It's a vicious circle.
If the increase in the price
If the increase in the price of alcohol is in an effort to promote healthy lifestyles as they say, then don't serve alcohol at state functions and also don't serve alcohol at the Commonwealth Heads of Government Conference in November 2009!
But if it is a revenue generating tax, then WE INSIST that you charge for drinks at the Commonwealth Conference (pity that this tax increase did not come before the Summit)!
This government is barren in its ideas!
Does anybody know of any
Does anybody know of any trinidadian organization or body that can challenge or protest this housing tax??? If not..can all trinis against it begin a petition?? It seems that Trinidad is the only place in a recession-driven world where house taxes go up. In North America for example...people cant even pay mortgage..much less housing tax. Yet this Clown Government see it no big deal to raise taxes. ALready as it is...people need to pay mortgage..what the hell we need more taxes for??
Housing should be a priority for citizens..not a burden.
What a jackass government!!