Stamp duty in HK changes

Discussion in 'Accounting & Tax' started by Gockie, 8th Nov, 2016.

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  1. Gockie

    Gockie Life is good ☺️ Premium Member

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    Gockie, 8th Nov, 2016
    #1
  2. Colin Rice

    Colin Rice Mortgage Broker Business Member

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    Wowser, and I thought the Aus government was a bunch of thieves.
     
    Colin Rice, 8th Nov, 2016
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  3. Eric Wu

    Eric Wu Well-Known Member

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    @Gockie , have you told them Birkdale and Cleveland in Brisbane are good places to buy into? :rolleyes:
     
    Eric Wu, 8th Nov, 2016
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  4. Traveller99

    Traveller99 Well-Known Member

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    Singapore set similar rates a number of years ago and it had the desired effect at dampening interest in the market. Prices have fallen by 10% over the last few years with more to come, as investors ignore Singapore for other spots. If you can suck up the 15% ABSD you can sneak some nice deals
     
    Traveller99, 8th Nov, 2016
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  5. JDP1

    JDP1 Well-Known Member

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    The Hong kongers know more about seq and Brisbane in particular... so....that's where the inevitable boom will be :)
    Also inevitable that Clinton will win the top job -you heard it here first.
     
    JDP1, 8th Nov, 2016
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  6. Beano

    Beano Well-Known Member

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    But ....
    NO Capital Gains tax
    NO land tax
    MAX Tax 15pc
    Commission from real estate agent half of Australian RE agent
     
    Beano, 8th Nov, 2016
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  7. Colin Rice

    Colin Rice Mortgage Broker Business Member

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    Thats a lot fairer than the Aus system then :)
     
    Colin Rice, 8th Nov, 2016
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  8. big max

    big max Well-Known Member

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    big max, 8th Nov, 2016
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  9. bumskins

    bumskins Well-Known Member

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    Same rate as Vancouver just introduced. Most states in Australia this year have been tweaking stamp duty surcharges/land tax for foreign buyers as well. Though by more modest amounts (50%-75% of this amount)

    Will be interesting to see the changes in state taxes over the next 5-10 years. I personally get the feeling that NSW especially is happy riding the current stamp duty boom, but will probably look to Land Tax to shore up tax revenue when it begins to fall away.
    There was an article the other day that mentioned Scott Morrison was going to bring up the idea of transitioning from Stamp Duty to Land Tax at the next meeting with State Governmemts.
     
    bumskins, 9th Nov, 2016
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  10. big max

    big max Well-Known Member

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    Meanwhile other more progressive countries such as NZ are letting the investment flow in and are benefitting accordingly.
     
    big max, 9th Nov, 2016
    #10