Its not capital gains tax, when you develop or buy and sell goods that are traditionally considered of capital nature, they cease to be considered as capital items and for tax purposes its assumed you are trading in the goods.

Therefore someone consistently developing and selling houses should be taxed like someone buying and selling milk and bread.

Rent tax is just bringing normal income tax defaulters under the bracket, i don't like it at all.

One of the options will be to incorporate a company to be the 'Landlord'. Put all your supported expenses there and pay corporate tax (30%) only for profits.

See you in court.

@jamani, my expenses on the invertments are more than the income, in essense i have a paper loss, how can i be taxed. do companies get taxed after making losses?

brace for rent hikes if implementation is effective..iam concerned about the implementation though since rental tax has always been there.