Issue link: https://maltatoday.uberflip.com/i/1512115
maltatoday | SUNDAY • 26 NOVEMBER 2023 10 COMMERCIAL Gozo 2% stamp duty tax scheme ending soon THE very popular Gozo Prop- erty Scheme, which offers a reduced tax rate of 2% (as op- posed to the usual 5%) for indi- viduals purchasing residential properties in Gozo, will end on December 31, 2023. The re- duced stamp duty rate will only be applicable for the remainder of this year if a Promise of Sale is signed before the end of 2023. It is thus an opportune time for any prospective buyers to ac- quire property in Gozo before the year is out in order to make use of this savings measure. Year after year, Gozo contin- ues to be the preferred retreat for those residing in Malta, owing to its slower pace of life and preservation of tradition- al Maltese heritage. With less traffic congestion, a tranquil atmosphere, and picturesque scenery, the island serves as an ideal destination for those seek- ing to break away from the daily cosmopolitan rush, even if just for occasional long weekends or the summer months. Inland towns and villages like Xaghra, Nadur, Qala, Zebbug, and the capital Rabat are con- sistently popular choices. Katya Scicluna, manager of Frank Salt Real Estate's Fortunato Mizzi office, noted, "Walking along the village streets, one cannot help but feel a sense of authen- ticity, as if time has stood still. The real charm of Gozo lies in its village cores and their in- habitants." For those desiring proximity to beaches and res- taurants, Xlendi and Marsal- forn are favoured. Areas such as Nadur, Kercem, and Sannat have witnessed increased sales and inquiries, especially for apartments and older character properties, particularly those with scenic views. "Properties with a garage are in high de- mand, and if they come with outside space, even better!" added Katya. Regarding the luxury property market, Katya observed, "Luxu- ry properties remain accessible, but demand fluctuates based on factors such as location, premium finishes, and views. High-end properties in certain locations experience swift sales, while others may remain availa- ble for an extended time." Ma- rie Grech contributed, stating, "When investing in rental prop- erties in Gozo, considerations include the property's location, rental demand, the state of the local economy, and overall ap- peal. Opting for a property in a prime location significant- ly impacts rental demand and returns, with well-located and well-maintained investment properties expected to yield around 4% rental return plus a guaranteed capital appreciation of around 8% per annum." For first-time buyers, despite the conclusion of the 2% stamp duty reduction, they remain el- igible for a €40,000 grant when purchasing an older property. This incentive applies to those acquiring a vacant property of 20 years or more, a property in a UCA, or a newly constructed house incorporating traditional Maltese architectural elements. Moneybase customers earn €20 cashback for purchases CUSTOMERS shopping online with their Moneybase Mastercard this Christmas season will earn €20 cashback. As part of the Mastercard Pay & Get Re- wards Programme campaign, every Mon- eybase Mastercard cardholder using their card to make 5 or more online purchases totalling €100 will receive €20 cashback. A maximum of one cashback per card for each month is allowed, both virtual and physical cards are eligible. Moneybase cardholders also have the chance to win a dream holiday, 16 nights for two persons in Bali, all moneybase card- holders are eligible to participate in the prize draw and automatically earn tickets for every transaction made. The winner of the Bali trip will be announced in January. This month, Moneybase also gave away 18 fully paid trips including tickets to the watch the UEFA champions league. More information about Moneybase's rewards and incentives are available on the moneybase website. Moneybase's ISO-certified customer care team is availa- ble to assist clients with any questions they might have, seven days a week, and may be reached on +356 25 688 688 or through the in-app chat. As a next-generation financial platform, Moneybase provides investments and pay- ments in a single ecosystem backed by local ISO-certified customer support. Custom- ers can send and receive person-to-person payments, as well as make both domestic and international transfers. Users may also opt to receive their salary, pension or sti- pend directly onto their Moneybase IBAN. Moneybase customers save when travelling or making international payments thanks to the platform's competitive currency rates and the multicurrency capabilities of the Moneybase card, which may be ordered for free from the app itself. With Moneybase Invest, users can invest locally on the Malta Stock Exchange or tap into over 40 international markets with over 20,000 stocks, ETFs, bonds and funds through the award-winning platform. The platform also offers fractional shares and extended hours trading, which provide an additional 9.5 hours of US market access. Moneybase is part of the Calamatta Cus- chieri Finance Group. The app may be downloaded from the App Store or Play Store. More information is available on the Moneybase website: https://moneybase. com GSD Marketing Ltd. begins introduction of Attached Caps to boost collection, recycling and help to prevent litter GSD Marketing has started to transition to attached caps to its PET bottles, mak- ing it easier to recycle the entire package and ensure no cap gets left behind! The first shift is being done on the Kristal Brand and the switch is set to be com- pleted for all plastic bottles across all the locally manufactured Coca-Cola range of brands by early 2024. All of the products produced by GSD Marketing forming part of the Coca-Co- la's portfolio, including the caps, have been 100%. Bottle caps are at times discarded and may become a source of littering. The new design means that the cap stays con- nected to the bottle after opening, so the whole plastic bottle and attached cap can be recycled together while still giving con- sumers a positive drinking experience. This initiative will continue to help cre- ate a "circular economy" for plastic, which are key to Coca-Cola's ambition to create a World Without Waste. Having attached caps with our beverages is just one of the steps we're taking as part of our sustainability journey. It's also one of many steps we're taking towards our global commitment, in partnership with The Coca-Cola Company, to help collect and recycle a bottle or can for everyone that we sell by 2025, on our journey to- wards a World Without Waste.