Thursday, October 23, 2014   

Govt proposes to change property tax exemptions
(05-13 16:51)

The government proposed to amend the bills on double stamp duty.
Secretary for Financial Services and the Treasury Ceajar Chan Ka-keung told the Legislative Council that the government plans to extend the waiver period for people changing flats, which will start after signing of the formal agreement to buy the second flat.
In the original bill, the six-month period begins when the buyer signs the preliminary sales agreement.
Meanwhile, buyers without holding any residential unit purchased a home together with a car park using the same document will be exempted from the double stamp duty.
But lawmakers are still upset with the proposed change, saying it will still hit on retailers and other homeowners who are looking to change their flats for their own users.   
Other Hong Kong breaking news:
Students may not agree to further talks with govt (10-22 19:00)
Customs seize HK$10 million illicit cigarettes (10-22 18:02)
Kenny G visit protests (10-22 17:12)
Scuffles break out in Mongkok (10-22 16:57)
Protest against CE's remarks (10-22 16:32)
Tensions mount again in Mongkok (10-22 16:25)
No end in sight for protests after talks (10-22 13:14)
Students to discuss way forward on reform (10-22 13:06)
Students urged to rethink 'destructive tactics' (10-22 13:05)
Netizens lampoon government negotiators (10-22 13:02)

More breaking news >>

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