2018/19 Budget: Unkempt buildings prompt new tax incentive

BUILDINGS that are at least five-years-old now qualify for a new tax incentive package.

Attorney General Aiyaz Sayed-Khaiyum said there were too many old, unkempt and deteriorating buildings.

“They aren’t attractive, they are unsafe,” he said.

“Buildings that are at least five years old qualify for a new tax incentive package if owners make the effort to have them redone. If more than $1million is spent on refurbishment to the exterior of the building, building owners get a 25 per cent industrial allowance.

“To receive that allowance, owners must utilise green technology such as solar panelling on the building, they must provide access to buildings for people living with disabilities such as wheelchair ramp on the doorway and lighting that helps light up our streets.”

He said this incentive was available for the next three years.

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