Wazua
»
Club SK
»
Politics
»
New deduction to fund govt housing plan
Rank: Elder Joined: 5/24/2007 Posts: 1,805
|
This is the beginning of the next big scam..this is why I think so 1. there is no location identified for these houses 2. The contributors have no assurance of benefiting 3. There are no clear timelines of delivery 4. I have not heard of a committee to make this happen 5. It has been proven before ( Nyayo Highrise, Kibira etc) that the intended beneficiaries cannot afford that lifestyle and will resell to the middle class.. 6. There is no clear criteria for qualification..what that implies in Kenya is that we will be astonished when the list is finally read out.. It will be largely politicians, and state officers 7. The govt is forcing this on the citizens.... That shows you it does not sell to the masses 8. Too much hidden information on the operability of the project 9.There is a Court process ongoing yet it is being implemented 10... This is Jubilee...if the scams in the last 3 years are anything to go by Watch this space... I Think Therefore I Am
|
|
|
Rank: Veteran Joined: 1/20/2011 Posts: 1,820 Location: Nakuru
|
bwenyenye wrote:This is the beginning of the next big scam..this is why I think so
1. there is no location identified for these houses
2. The contributors have no assurance of benefiting
3. There are no clear timelines of delivery
4. I have not heard of a committee to make this happen
5. It has been proven before ( Nyayo Highrise, Kibira etc) that the intended beneficiaries cannot afford that lifestyle and will resell to the middle class..
6. There is no clear criteria for qualification..what that implies in Kenya is that we will be astonished when the list is finally read out.. It will be largely politicians, and state officers
7. The govt is forcing this on the citizens.... That shows you it does not sell to the masses
8. Too much hidden information on the operability of the project
9.There is a Court process ongoing yet it is being implemented
10... This is Jubilee...if the scams in the last 3 years are anything to go by
Watch this space... Hujuma..... Dumb money becomes dumb only when it listens to smart money
|
|
|
Rank: Elder Joined: 12/7/2012 Posts: 11,921
|
Fyatu wrote:bwenyenye wrote:This is the beginning of the next big scam..this is why I think so
1. there is no location identified for these houses
2. The contributors have no assurance of benefiting
3. There are no clear timelines of delivery
4. I have not heard of a committee to make this happen
5. It has been proven before ( Nyayo Highrise, Kibira etc) that the intended beneficiaries cannot afford that lifestyle and will resell to the middle class..
6. There is no clear criteria for qualification..what that implies in Kenya is that we will be astonished when the list is finally read out.. It will be largely politicians, and state officers
7. The govt is forcing this on the citizens.... That shows you it does not sell to the masses
8. Too much hidden information on the operability of the project
9.There is a Court process ongoing yet it is being implemented
10... This is Jubilee...if the scams in the last 3 years are anything to go by
Watch this space... Hujuma..... Very noble idea by Jubilee, next they need to implement the NSSF Act 2013  In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
|
|
|
Rank: Elder Joined: 3/18/2011 Posts: 12,069 Location: Kianjokoma
|
Quote:
From FKE
Dear Member,
Our attention has been drawn to the Public Notice published in today’s Daily Nation Newspaper under the headline Housing Fund Levy.
The notice by the Ministry of Transport, Infrastructure, Housing, Urban Development and Public Works in conjunction with Kenya Revenue Authority has issued a go-head on the implementation of the Housing Fund Levy with effect from 9th May 2019. This is contrary to the Court Orders which are still in force.
The Federation of Kenya Employers (FKE) attended Court on the 8th of April 2019 for the further mention of this case and obtained an extension of the Court Orders suspending the implementation of the Housing Levy upto the 20th of May 2019 when the case will come up again for mention for further directions from the Court on the Hearing and determination of this case.
The Gazette Notice is therefore unlawful and we shall keep you posted on any further developments.
Yours sincerely,
JACQUELINE MUGO (EBS)
Executive Director/CEO
|
|
|
Rank: Elder Joined: 12/7/2012 Posts: 11,921
|
|
|
|
Rank: Elder Joined: 12/4/2009 Posts: 10,778 Location: NAIROBI
|
Gathige wrote:Kusadikika wrote:Laws of economics are like law of gravity. You cannot skip people with money. You cannot make something affordable to people who have no money while denying it to people with money. Hiyo laini ishapangwa tayari so if you are going to allocate anything start with allocating it at the top.
If by some miracle they build those houses the real price will rise to market price in a fraction of a second. You think a guy with income of 10,000 a month will live in a house where he pays 6,500 a month. He will quickly rent it or sell it to the guy who earns 100k a month who will gladly offer 20k a month. Then the first guy will move back to Kibera a happy man.
In my opinion the easiest way to do affordable housing is to build no houses at all. Build infrastructure: Roads, sewer, water, power in new places and offer buroti for cheap maguta maguta. Put the current buyers and dividers of land out of business by flooding supply. GOK can do this better because they have more land and can put up better infrastructure. Put restrictions on transfers so that someone cannot sell within 5 years and cannot sell an empty plot but only development on it. Plots can also only be sold to individuals with proven tax returns and only one per person. Then let people develop their place as they wish. @kusadikika, You have spoken well until this point. Any restrictions in a free market distorts the market, increases rent seeking and defeats the purpose. The ability to transfer assets is what makes the market efficient and ensures the best price allocations among st assets. Once the infrastructure is in place and allocations done, whether of house or plots, the new owners can then be free to engage the markets. Add on that zoning laws have to be strictly followed/adhered to. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
|
|
|
Rank: Elder Joined: 12/4/2009 Posts: 10,778 Location: NAIROBI
|
Fyatu wrote:bwenyenye wrote:This is the beginning of the next big scam..this is why I think so
1. there is no location identified for these houses
2. The contributors have no assurance of benefiting
3. There are no clear timelines of delivery
4. I have not heard of a committee to make this happen
5. It has been proven before ( Nyayo Highrise, Kibira etc) that the intended beneficiaries cannot afford that lifestyle and will resell to the middle class..
6. There is no clear criteria for qualification..what that implies in Kenya is that we will be astonished when the list is finally read out.. It will be largely politicians, and state officers
7. The govt is forcing this on the citizens.... That shows you it does not sell to the masses
8. Too much hidden information on the operability of the project
9.There is a Court process ongoing yet it is being implemented
10... This is Jubilee...if the scams in the last 3 years are anything to go by
Watch this space... Hujuma..... Employer contribution is non-refundable.Guess where it will go. GoK will be the biggest defaulter in remitting the money Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
|
|
|
Rank: Elder Joined: 12/4/2009 Posts: 10,778 Location: NAIROBI
|
COTU=Atwoli and Atwoli=COTU. How was Atwoli able to loan Jirongo ksh.100mn,jirongo defaulted and there was no change in lifestyle for Franco Atwoli Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
|
|
|
Rank: Veteran Joined: 9/21/2011 Posts: 2,032
|
bwenyenye wrote:This is the beginning of the next big scam..this is why I think so
1. there is no location identified for these houses
2. The contributors have no assurance of benefiting
3. There are no clear timelines of delivery
4. I have not heard of a committee to make this happen
5. It has been proven before ( Nyayo Highrise, Kibira etc) that the intended beneficiaries cannot afford that lifestyle and will resell to the middle class..
6. There is no clear criteria for qualification..what that implies in Kenya is that we will be astonished when the list is finally read out.. It will be largely politicians, and state officers
7. The govt is forcing this on the citizens.... That shows you it does not sell to the masses
8. Too much hidden information on the operability of the project
9.There is a Court process ongoing yet it is being implemented
10... This is Jubilee...if the scams in the last 3 years are anything to go by
Watch this space... Why the deduction yet the buyers will (supposedly) still pay for the houses in full? And no MP is questioning in Parliament? Are they being deducted?
|
|
|
Rank: Elder Joined: 3/29/2011 Posts: 2,242
|
Ericsson wrote:COTU=Atwoli and Atwoli=COTU. How was Atwoli able to loan Jirongo ksh.100mn,jirongo defaulted and there was no change in lifestyle for Franco Atwoli Kshs or UGX or Zim Dollar? Looks like Mzee mfupi round, has real cash "Things that matter most must never be at the mercy of things that matter least." Goethe
|
|
|
Rank: Elder Joined: 12/7/2012 Posts: 11,921
|
Brought from Low End Housing: High Risk, High Return Thread In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
|
|
|
Rank: Veteran Joined: 9/21/2011 Posts: 2,032
|
Angelica _ann wrote:Brought from Low End Housing: High Risk, High Return Thread Key word is 'may be' transferred not 'shall' be transferred.
|
|
|
Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
|
State Capture and outright thuggery. Time to say enough is enough to this incompetent government. Life is short. Live passionately.
|
|
|
Rank: Elder Joined: 2/26/2012 Posts: 15,980
|
sparkly wrote:State Capture and outright thuggery. Time to say enough is enough to this incompetent government. If your MP passed the Finance bill 2018 you have you and him to blame. "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
|
|
|
Rank: Elder Joined: 6/20/2008 Posts: 6,275 Location: Kenya
|
Lolest! wrote:kingfisher wrote:Lolest! wrote:Finally! Quote:The government will start deducting 1.5 percent housing levy from all employees in the public and private sector beginning March 1. https://www.nation.co.ke...57666-jnsqhr/index.html
It's 1.5% employee and similar amount employer. This fund will be BIGGER than NHIF & NSSF! Remember NHIF has a low maximum(1,700) while NSSF new rates have never been applied. Even if new NSSF rates are applied, the NSSF pays the member upon retirement or his beneficiaries in case of death. Housing fund will pay you back all monies(no interest?) in case you aren't a beneficiary upon retirement. Unlike what happens for NSSF(employer contribution is paid to the member/employee), for National Housing Development Fund you don't get to benefit from employer's contribution. The fund keeps those contributions. Anyway, let's see about the Parkroad houses first There is a maximum capping of 5k being the combined total of both employer/employee per month. So it will be max of 2.5k per month for both unless that has been changed. Right Is this deduction less tax like Home Ownership Savings Plan (HOSP), which translates to monthly tax savings or not?
|
|
|
Rank: Veteran Joined: 9/21/2011 Posts: 2,032
|
1)People buying houses will buy on mortgage. Meaning they pay developer in full first and then service the mortgage polepole
2) The developers constructing the houses will spend own money and are not getting govt funding
So, tell me like a 2year old who hasn't gone to school, what is the 1.5 % deduction meant for?
|
|
|
Rank: Member Joined: 11/21/2018 Posts: 564 Location: Britain
|
limanika wrote:1)People buying houses will buy on mortgage. Meaning they pay developer in full first and then service the mortgage polepole
2) The developers constructing the houses will spend own money and are not getting govt funding
So, tell me like a 2year old who hasn't gone to school, what is the 1.5 % deduction meant for? Wait until you hear that anybody who steals this money (even if it's the entire amount) can only be charged a maximum of 10K... Total thuggery this!
|
|
|
Rank: Elder Joined: 3/19/2010 Posts: 3,504 Location: Uganda
|
Ericsson wrote:Fyatu wrote:bwenyenye wrote:This is the beginning of the next big scam..this is why I think so
1. there is no location identified for these houses
2. The contributors have no assurance of benefiting
3. There are no clear timelines of delivery
4. I have not heard of a committee to make this happen
5. It has been proven before ( Nyayo Highrise, Kibira etc) that the intended beneficiaries cannot afford that lifestyle and will resell to the middle class..
6. There is no clear criteria for qualification..what that implies in Kenya is that we will be astonished when the list is finally read out.. It will be largely politicians, and state officers
7. The govt is forcing this on the citizens.... That shows you it does not sell to the masses
8. Too much hidden information on the operability of the project
9.There is a Court process ongoing yet it is being implemented
10... This is Jubilee...if the scams in the last 3 years are anything to go by
Watch this space... Hujuma..... Employer contribution is non-refundable.Guess where it will go. GoK will be the biggest defaulter in remitting the money avenue for theft. punda amecheka
|
|
|
Rank: Elder Joined: 3/19/2010 Posts: 3,504 Location: Uganda
|
|
|
|
Rank: Elder Joined: 2/26/2012 Posts: 15,980
|
newfarer wrote:https://mobile.nation.co.ke/news/Labour-court-suspends-housing-tax/1950946-5075936-chaan3z/index.html
the sh*t has been thrown out And it needs to stay there. Why not use NSSF and the various saccos that exist? "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
|
|
|
Wazua
»
Club SK
»
Politics
»
New deduction to fund govt housing plan
Forum Jump
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.
|