{"id":51667,"date":"2017-04-11T18:45:30","date_gmt":"2017-04-11T11:45:30","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/cy-leung-seeks-to-plug-housing-loophole-with-stamp-duty-rise-for-multiple-flat-purchases\/"},"modified":"2017-04-12T13:29:17","modified_gmt":"2017-04-12T06:29:17","slug":"cy-leung-seeks-to-plug-housing-loophole-with-stamp-duty-rise-for-multiple-flat-purchases","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cy-leung-seeks-to-plug-housing-loophole-with-stamp-duty-rise-for-multiple-flat-purchases\/","title":{"rendered":"CY Leung seeks to plug housing loophole with stamp duty rise for multiple flat purchases"},"content":{"rendered":"


\nFirst-time Hong Kong homebuyers purchasing multiple flats in one go will now have to pay a 15 per cent stamp duty as the \u00adgovernment finally seeks to plug a legal loophole open to exploitation by speculators.
\nThe loophole was first reported by the Post last November, days after the government, in a bid to curb runaway property prices, more than doubled the stamp duty to a flat rate of 15 per cent for all residential purchases. It did not apply to first-time buyers, allowing speculators…
\n
\nSource : South China Morning Post
\nRead more…CY Leung seeks to plug housing loophole with stamp duty rise for multiple flat purchases<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

First-time Hong Kong homebuyers purchasing multiple flats in one go will now have to pay...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-51667","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-drl","jetpack-related-posts":[{"id":51801,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/wily-buyers-work-around-stamp-duty-rule-by-splitting-purchases-under-different-names\/","url_meta":{"origin":51667,"position":0},"title":"Wily buyers work around stamp duty rule by splitting purchases under different names","date":"April 13, 2017","format":false,"excerpt":"\r Wily buyers appear to have found a workaround for the Hong Kong government\u2019s new stamp duty rule, barely a day after the outgoing Chief Executive Leung Chun-ying announced he\u2019s closing a five month tax loophole to help his successor to get a handle on the city\u2019s runaway property prices.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":33390,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kongs-property-stamp-duty-leaves-a-gaping-loophole\/","url_meta":{"origin":51667,"position":1},"title":"Hong Kong\u2019s property stamp duty leaves a gaping loophole","date":"November 7, 2016","format":false,"excerpt":"\r Hong Kong\u2019s government, which more than doubled a stamp duty over the weekend to tame runaway real estate prices, has left a gaping loophole in the tax regime, allowing first-time buyers of multiple properties to get away with not paying the levy. The tax ordinance collects stamp duty based\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":47277,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/govt-to-amend-absd-rules-to-include-share-transfer\/","url_meta":{"origin":51667,"position":2},"title":"Gov\u2019t to amend ABSD rules to include share transfer","date":"March 9, 2017","format":false,"excerpt":"\r National Development Minister Lawrence Wong announced plans to plug ABSD loophole. Source: Wikimedia Commons The authorities are planning to amend the rules to plug a loophole that allows some companies to avoid paying Additional Buyers Stamp Duty (ABSD), by acquiring shares in a company that owns the property, rather\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":103410,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/would-we-pay-higher-stamp-duty-if-we-marry-before-buying-together\/","url_meta":{"origin":51667,"position":3},"title":"Would we pay higher stamp duty if we marry before buying together?","date":"January 28, 2019","format":false,"excerpt":"\r We would be tenants in common on the joint propertyQ Please can you advise me whether my partner and I should wait until we marry to buy a new home together or not. I own three rental properties and would probably need to sell my current home to buy\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":38079,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/find-out-how-these-billionaires-dodged-hong-kongs-new-property-curbs\/","url_meta":{"origin":51667,"position":4},"title":"Find out how these billionaires dodged Hong Kong\u2019s new property curbs","date":"December 14, 2016","format":false,"excerpt":"\r Twist: Asia\u2019s most expensive apartments had a royal bargain in taxes Victoria Harbour, Hong Kong at night. leungchopan\/Shutterstock While Hong Kong\u2019s new property curbs have had its intended effects, they still seem to have big enough loopholes to drive mansions into. Ultra-high-net-worth individuals in Hong Kong have found technicalities\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":32966,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-more-than-doubles-property-stamp-duty-to-15-per-cent-to-cool-overheating-market\/","url_meta":{"origin":51667,"position":5},"title":"Hong Kong more than doubles property stamp duty to 15 per cent to cool overheating market","date":"November 4, 2016","format":false,"excerpt":"\r Hong Kong\u2019s government has announced the latest round of property measures to cool off property investments by increasing the stamp duty on property transactions to 15 per cent across the board. It will be raised from the previous range of between 4.25 per cent and 8.5 per cent. The\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/51667"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=51667"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/51667\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=51667"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=51667"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=51667"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}