KUALA LUMPUR, Dec 5 (Bernama) -- Bursa Malaysia closed lower on Friday amid mixed regional market performance as investors turned cautious over a possible rate hike by the Bank of Japan (BOJ) and upcoming US economic data that may influence the Federal Reserve’s (Fed) interest rate decision next week. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) pared most earlier losses to settle 4.55 points easier, or 0.28 per cent, to 1,616.52 from Thursday’s close of 1,621.07. The benchmark index, which opened 0.37 of-a-point lower at 1,620.70, moved between 1,609.67 and 1,621.25 throughout the day. The broader market was negative, with decliners outpacing advancers 604 to 439. A total of 550 counters were unchanged, 1,151 untraded, and 18 suspended. Turnover declined to 3.17 billion units worth RM2.24 billion from 4.48 billion units worth RM2.75 billion yesterday. Rakuten Trade Sdn Bhd vice-presiden...
Switzerland will hold a national ballot on Sept 28 to decide whether to abolish its long-standing property tax, worth about CHF1.7 billion (US$2.1 billion) annually.
Market Snapshot
What’s at stake: Ending the tax on imputed rental value — the “theoretical rent” homeowners could earn from their property.
Winners: Homeowners could see tax burdens cut by up to 22%.
Losers: Renters (60% of the population) won’t benefit, while the cost hits government budgets.
Housing impact: Raiffeisen estimates property price growth could accelerate to 5–7% over the next year.
Why It Matters
Homeownership in Switzerland: Only 40% own homes, the lowest in Europe vs 70% in the EU.
Perceptions of fairness: Many see the current “imputed rent” tax as unfair, even among non-homeowners.
Bubble risk: UBS already flags a “moderate bubble” in Swiss housing, while the central bank warns of market vulnerabilities.
Debt & Tax Trade-Offs
Abolishing the tax also ends deductions for mortgage interest and home improvements.
Cantons may impose their own levy on second homes to offset revenue losses.
Supporters argue the change could reduce high household debt (125% of GDP, the highest in Europe).
Public Opinion
Homeowners: 66% support the proposal.
Renters: Mostly opposed.
Overall polls: Split nearly 50-50, with a slight edge toward approval.
The Debate
Opponents: Say renters and the broader public will foot the bill through higher sales taxes or paycheck deductions.
Supporters: Call it a “ghost tax” on income that doesn’t exist, arguing for fairness and simplicity.
Key Takeaway
The vote pits perceptions of fairness against fiscal realities. A win for homeowners could fuel housing demand and prices, while raising questions about how governments will replace lost revenue.
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