Ticino approves controversial tax law
Published: Sunday, Jun 9th 2024, 15:40
العودة إلى البث المباشر
In the canton of Ticino, high incomes will receive tax relief in future. A corresponding amendment to the law was approved on Sunday. Compensatory measures for planned pension cuts for cantonal employees were also approved at the ballot box.
With a voter turnout of 49.32 percent, 60,581 Ticino residents voted in favor of the new tax law and 45,908 against, according to the State Chancellery.
In addition to a reduction in the maximum income tax rate, the new tax law also adjusts inheritance and gift tax as well as the taxation of capital withdrawals from pension plans.
The new law aims to reduce the top tax rate in six stages by 0.5% per year until 2030 - from 15% to 12%. This will reduce the tax burden on high income brackets. Among other things, this should make the canton more attractive for top managers.
The austerity cuts announced almost at the same time as the debate on the tax reform caused a great deal of criticism from left-wing parties and trade unions. The tenor was that the rich were being given while social benefits were being cut. The SP, Greens and other left-wing parties therefore launched a referendum against the tax law amendment.
Compensation for pension cuts
The Ticino electorate also approved a second bill that provides for an amendment to the law on the cantonal pension fund.
With 53,230 votes in favor compared to 52,169 against, voters narrowly approved compensation measures to cushion the planned pension cuts for cantonal employees. These include an increase in the retirement capital, which will be financed by employers and employees. The measures will cost the canton CHF 14.6 million a year.
The third bill, which provided for the purchase of a former Banca del Gottardo building in Lugano for CHF 76 million and a loan for the conversion, was rejected. The sovereign rejected the proposal with 63,216 votes against and 43,088 votes in favor.
The property would have been converted into another cantonal court building and would have housed the Court of Appeal, the civil court and the new guardianship court in future. The existing court building in Lugano has long had too little space and is in need of renovation.
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