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WRITTEN QUESTION TO THE MINISTER FOR TREASURY AND RESOURCES BY DEPUTY T.M. PITMAN OF ST. HELIER
ANSWER TO BE TABLED ON TUESDAY 7th JUNE 2011
Question
Does the Minister stand by his statement that historically no deals' were or have ever been entered into with 1(1)(k) residents and, if so, would he categorically confirm that at no time has the Treasury set minimum annual tax levels which were met exactly by the prospective resident, irrespective of their wealth?
Answer
Yes, the Minister does stand by his statement that 'no deals' were or have been entered into with 1(1)(k) residents and he can confirm that at no time has the Treasury set minimum annual tax levels which were met exactly by the prospective resident irrespective of their wealth.
Minimum figures previously quoted, for before and since 2005, relate to the minimum contribution required by successive Housing Committees and Ministers in order to manage demand on the Island's housing stock.
Prior to 2005 those granted consent were taxable at 20% on all their income liable to Jersey tax and since 2005 the tax liability has been set by reference to the terms of Article 135A of the Income Tax (Jersey) Law 1961. In all cases the tax actually paid has depended on the taxable income of the individual and not on whatever minimum might have applied at the time of application for a housing consent.