PRESS RELEASE

(Source : Information Services Department)

     The Stamp Duty (Amendment) Bill 2026 will be gazetted on March 6 to implement the proposal of increasing the stamp duty rate for residential property transactions with an amount or value of consideration (whichever is the higher) above $100 million from 4.25 per cent to 6.5 per cent as announced in the 2026-27 Budget.
      
     A Government spokesperson said, "The proposal upholds the 'affordable users pay' principle and will increase government revenue by about $1 billion annually. It is expected to affect only 0.3 per cent of residential property transactions."
      
     The Bill will be introduced into the Legislative Council for first reading and the commencement of the second reading debate on March 18. Subject to passage by the Legislative Council, it will take effect retrospectively from February 26 this year.