Popular initiative Basel Juso and Basta launch "Heirs for Housing" initiative
On Thursday, the Juso and Basta parties jointly launched the cantonal popular initiative "Heirs for Housing" in Basel-Stadt. This initiative demands that the canton also introduce inheritance tax for direct descendants and invest a third of the revenue in non-profit housing.
26.09.2024, 13:16
SDA
According to the text of the initiative published on Thursday, the tax law should now stipulate that direct descendants should pay 4 percent inheritance tax with an exemption amount of CHF 500,000.
For all other relatives, this tax should amount to 10 percent with a tax-free amount of CHF 2,000. In the case of real estate and companies, the initiative wants to grant a tax deferral of ten years as well as a reduction if the business is continued or the property is occupied during this time. A tax should also be introduced on gifts so that inheritance tax cannot be circumvented, as the text states.
The initiative also stipulates that the canton should use a third of the gross proceeds from these taxes to buy properties and transfer them to the public housing stock. The remainder is to be booked as undefined tax revenue as before. The properties are to be transferred to an organization or foundation for non-profit and affordable housing under building rights, as the initiative committee demands.
The two parties have 18 months to collect 3,000 valid signatures.
