TNAG-1725-FCO40-2438-Minutes-and-Hansards-of-the-Legislative-Council-of-Hong-Kong-1988 — Page 105

Existing and Proposed Rates of Stamp Duty on Property Assignments

(i) Proposed New Rates of Duty

The proposed new rates of duty, subject to marginal relief, are

Property consideration

Appendix F(4)

Duty

Up to

$ 250,000

$20

$ 250,001 to $500,000

0.75%

$ 500,001 to $1,000,000

$1,000,001 to $1,500,000

Over $1,500,000

1.5%

2.0%

2.75%

Marginal relief: under the proposed new formula, whenever the consideration of a property slightly exceeds a marginal point on the scale of rates, the amount required to be added to the duty payable will be 10%, as opposed to the present 100%, of the excess of the consideration over that point.

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