The "end of the capital gains tax surcharge deferral for owners of multiple homes" mentioned by President Lee Jae-myung was reportedly included on the agenda for the Cabinet meeting scheduled for the 27th but was dropped at the last minute on the 26th. Attention is focusing on why the matter, which Lee said he would discuss at the Cabinet meeting with the intent of strengthening the real estate tax system, was removed from the agenda.

A government official said, "Until this morning (the 26th), it was included on the Cabinet meeting agenda, but I was told in the afternoon that it was removed," adding, "I was not given a reason."

Lee Jae-myung, the president, listens to a participant's remarks at the Town Hall Meeting Hear the Heart of Ulsan held at the Ulsan Exhibition and Convention Center on the 23rd. /Courtesy of News1

President Lee Jae-myung recently posted a series of messages on X (formerly Twitter) saying the real estate tax system should be strengthened. In particular, on the 25th, Lee wrote, "The end of the deferral of the capital gains tax surcharge for owners of multiple homes on May 9 was already decided in February last year," and "If you thought we would pass another law to extend it again, that was a miscalculation." Lee added, "I will discuss at the Cabinet meeting allowing a deferral of the surcharge for contracts signed by May 9."

Accordingly, the end of the deferral of the capital gains tax surcharge for owners of multiple homes was placed on the Cabinet meeting agenda for the 27th, but it was dropped at the last minute. A government official said, "We did review it as a Cabinet meeting agenda item, but there are matters that require more detailed working-level review regarding the specific implementation plan, so it was excluded from tomorrow's Cabinet meeting agenda."

Meanwhile, Blue House Senior Secretary for Public Relations Lee Gyu-yeon said on the 26th, "There is no way (the president's remarks about strengthening the real estate tax system) were made off the cuff," adding, "He likely ordered a review by the policy office and then received a report."

In political circles, there is also speculation that, with the June 3 local elections approaching, it will be difficult for the government to move toward comprehensively strengthening the real estate tax system. This is because it could be a factor in losing votes depending on the region.

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