Government welcomes passage of Stamp Duty (Amendment) Bill 2025

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     The Government welcomed the passage of the Stamp Duty (Amendment) Bill 2025 by the Legislative Council today (May 7) to implement the 2025-26 Budget proposal to raise the maximum value of properties chargeable to the $100 stamp duty from $3 million to $4 million, aiming to ease the burden on buyers of properties at lower values.

     A Government spokesperson said, "Based on property transaction data of 2024-25, we estimate that the measure will benefit approximately 15 per cent of property transactions, with government revenue reduced by about $400 million annually."

     The legislation as passed will be gazetted on May 16. The relevant adjustment, which took effect at 11am on February 26 this year under the Public Revenue Protection (Stamp Duty) Order 2025 gazetted on the same day, applies to instruments executed on or after February 26, 2025.

Ends/Wednesday, May 7, 2025
Issued at HKT 19:22

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