1.
Q:
A:
2.
Q:
A:
A:
A:
5.
Q:
A:
A:
A:
8.
Q:
A:
A:
11.
Q:
A:
A:
13.
Q:
A:
14.
Q:
A:
By adding the name of Ms Ho in the ASP, Mr Tang and Ms Fong have disposed of part of the residential property within 6 months from the date of acquisition and Ms Ho has acquired that part of the property from Mr Tang and Ms Fong. As Ms Ho is not a close relative of both Mr Tang and Ms Fong, AVD charged at 15% under Part 1 of Scale 1, Special Stamp Duty (SSD) and BSD will be payable, which are computed as follows:
Document | Nature of stamp duty | Amount ($) |
PASP | AVD (charged at Scale 2) | $562,500 ($15M x 3.75%) |
ASP | AVD (charged at the rate under Part 1 of Scale 1) | $750,000 [($15M x 15%) x 1/3] |
ASP | SSD | $1,000,000 ($15M x 1/3 x 20%) |
ASP | BSD | $2,250,000 ($15M x 15%) |
15.
Q:
A:
A:
A:
A:
A:
A:
The ASP will be charged with AVD at Scale 2 by reference to the total consideration of the residential property and the two car parking spaces.
21.
Q:
A:
22.
Q:
A:
A:
A:
25.
Q:
A:
Since Mr Chan does not own any other residential property in Hong Kong at the time of acquisition of the subject property, Scale 2 rates will apply. Compared with the AVD payable under the former Scale 2 rates, the AVD saved by him at different purchase prices of the property is appended below.
Purchase price of the property | AVD payable under Scale 2 rates applicable to instruments executed before 11 am on 22.2.2023 | AVD payable under Scale 2 rates applicable to instruments executed at 11 am on 22.2.2023 or thereafter | AVD Saved |
$5,000,000 | $150,000 | $112,500 | $37,500 |
$6,500,000 | $230,000 | $185,000 | $45,000 |
$9,000,000 | $337,500 | $270,000 | $67,500 |
$10,000,000 | $375,000 | $370,000 | $5,000 |
26.
Q:
A: