Frequently Asked Questions Regarding the Recently Imposed Special Stamp Duty in Hong Kong

 

1 When will the proposed SSD be effective?  
2 Under what circumstances, will SSD be payable?  
3 Would the SSD apply to confirmor sale of property which was acquired by the seller on or after 20 November 2010?  
4 Who will be liable to pay the SSD, the vendor or the purchaser?  
5 Would it be unfair to apply SSD to buyers who have entered into provisional agreement before 20 November 2010 and signed formal agreement after that date?  
6 For the purpose of SSD, how to define the date of purchase and sale of the property?  
7 What are the rates of SSD and how it is calculated?  
8 Why the buyer has to be held liable for the SSD?  
9 Would the SSD apply if a property is transferred to me by way of gift on or after 20 November 2010 and I sell it within 24 months?  
10 If I inherit a property from a deceased relative on or after 20 November 2010. Does SSD apply if I sell it within 24 months?  
11 Are there any exemptions for paying the SSD?  
12 Would exemption for the SSD be granted if I sell the property within 24 months without making any gain?  
13 If I manage to make a gain in selling the property within 24 months, would I be exempted from profits tax since the transaction have already been subject to SSD?
14 Would the SSD be deductible in calculating the assessable profits?
15 If SSD applies, when should I pay?
16 Will the SSD paid be refunded if the agreement for sale is cancelled subsequently?
17 When will the cancellation of deferred payment of stamp duty to residential property transaction valued at $20 million or below be effective?
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