December 23, 2008
Have rich friends who are doing some hanky-panky on their taxes? Thinking of quitting the corporate life in exchange for becoming a freelancer? Thinking about finding a job after making aliyah?
You may want to take the Israel Tax Authority up on its generous payout of 20% of all taxes collected from ratting out your neighbor. In a further quest to bring in more tax revenues, the Israel Tax Authority is upping its payments to individuals who help them catch tax evaders.
It works this way:
- collect 20% of any fines collected of information provided to the Authority via its public website
- chance to double this take after fines have been handed down from the courts
- make money even if a settlement is made
It’s just that easy. Good luck becoming the favorite tenant in your apartment complex.
December 23, 2008
As much as the banking sector in Israel has stood firm in the face of a global financial tsunami (lending practices were tighter than in the US or Western 
Europe), Israel is beginning to feel the weight of the crisis.
In a recent survey for Globes, almost 50% of Israelis claim that they have been hurt by the economic situation, a jump of 15% in just two months.
According to Globes:
There was a significant rise of 8% in respondents reporting purchases that were completely cancelled, a reduction by 7% in goods and services consumption, and a rise of 5% in purchases that were delayed or postponed.
That means, 22% of respondents said that they’ve cancelled planned purchases, up from 14% two months ago. Israelis are definitely tightening their belts in the face of this.
December 23, 2008
If you’re living here in Israel or considering renting an apartment, you’re witnessing a softening housing market with rising rents. Sort of a double whammy of sorts.
If you’re looking to buy, you’re (just) beginning to see prices come down from astronomical levels but renters have been left out in the cold (and it’s cold today in Jerusalem).
Check out this section in the Jpost dealing with rent hikes. One has to think 
that the financial crisis in America will affect Jerusalem apartment prices as luxury units are currently going up. Who’s buying them? What effect does unsold inventory have on people looking to buy in other neighborhoods.
I think it makes sense to sit on the sidelines currently until prices come in some more. Just FYI — Israelis typically have a lot more equity in their homes than homeowners have in America. For most Israelis, their homes are their main sources of net worth. That makes prices a lot stickier because homeowners are not as apt to reduce pricing on their homes in order to get liquid.
