TNAG-1725-FCO40-2438-Minutes-and-Hansards-of-the-Legislative-Council-of-Hong-Kong-1988 — Page 106

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Appendix F(4)(cont'd)

Consideration

Existing rates

Proposed rates

(ii) COMPARISON OF EXISTING AND PROPOSED RATES OF DUTY

Estimated no. of

persons who will benefit under the

proposal

Average duty saved per person ($)

Up to $250,000

$250,001-$252,505

$20

$20

NIL

$20 + excess of

consideration over $250,000

$20 + 10% of excess of

consideration over $250,000

1,800

1,100

Ja

$252,506 $270,057

IX

$270,058 - $500,000

1%

0.75%

$500,001 - $508,997

$5,000 + excess of

consideration over $500,000

$3,750 + 10% of excess of

consideration over $500,000

71,500

900

800

5,000

$508,998 $544,130

2.75%

$544,131 $1,000,000

2.75%

$1,000,001 - $1,062,520

2.75%

1.5%

20,600

8,900

$15,000 + 10% of excess of

consideration over $1,000,000

500

6,000

-

$1,062,521 $1,500,000

2.75%

2%

3,900

9,000

$1,500,001 - $1,655,180

2.75%

$30,000 + 10% of excess of

900

5,600

consideration over

$1,500,000

Over $1,655,180

2.75%

2.75%

NIL

100,000