LOmpit the family for “Peace”
LOve Many in Peace
with Integrity and Trust
Residential
Tax Unit
Every resident
must belong to a Residential Tax Unit. (Foreign investors must belong to a
Business Tax Unit)
Every family will
be treated as a Tax unit and all transfers of money etc. between family members
will not incur any taxation.
An
age limit will be set so when the child reaches, say 25, or on marriage,
thereby they will form a new Residential Tax Unit, they will then leave their
previous Residential Tax Unit.
Exceptions being made for seriously disabled relatives.
This gives the chance for parents to give
their children “their inheritance” when they will need it most as opposed to at
their point of death. There will also be a minimum sum that can be given in presents
etc. after they leave the tax unit. All transactions between tax units will be
taxed at the prevailing rate as decided by the highest authority. A family tax
unit can be only one person and can be setup by anyone over 18 years of age.
A maximum for both the giver
and receiver will be set by the central government.
All Family
tax units will receive 8 kilowatt hours of electricity per day, either from
their own generation or from the grid. After this amount used every extra
kilowatt hour will incur duty of £1 on consumption unless generated locally
i.e. by residential associations/themselves.
No
one can join an existing Tax Unit except through adoption, birth, marriage or
to take in someone who needs support i.e. an elderly “parent”. In this case if
the “parent” has more than £20000 in assets they will pay the transaction tax
on the surplus and his/her Basic Income will be go to the new Tax Unit account.
There can only be one marriage between two people in any tax personal tax unit.
Only the head (Either a single person or the married couple) of the Tax Unit
will have access to the Units Bank account at the National Bank.
If
the Unit takes in “Foster Children” the Local Authority will receive the
child’s basic income and pay the Unit for looking after the child and provide
support if required to the Unit.
All
UK land will be owned by a Residential Tax Unit. If land is owned by a foreign
person/company they must set up a non-residential business
tax unit including at least one individual who must have a Residential ID card, who is
responsible for the land and the tax that is due. These non-residential
business tax units are not entitled to any allowances enjoyed by other
residential tax units.