Sunday, October 26, 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:
Protesters to hold street vote (10-24 18:08)
CY should consider quitting: Tien (10-24 18:03)
High Court hears injunction application (10-24 15:48)
Sharp rise in new flats (10-24 15:48)
Lion Rock pro-democracy banner removed (10-24 15:44)
Tung calls for end of democracy protests (10-24 15:42)
More dialogue urged between govt and students (10-24 12:06)
Eleven arrested in connection with protests (10-23 19:00)
Some makeshift barriers removed in Mongkok (10-23 18:59)
Protests risk turning into civil disorder: Court (10-23 15:32)

More breaking news >>

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