HK Buyer's Stamp Duty (BSD)

HK Buyer's Stamp Duty (BSD)

HK Buyer's Stamp Duty (BSD)
 
1.

Q:

Under what circumstances will BSD be payable?

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2.

Q:

Who will be liable to pay the BSD?

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3.

Q:

Will BSD be applicable to a non-HKPR who has entered into a Provisional Agreement for Sale and Purchase (PASP) in respect of a residential property before 27 October 2012 and signed an Agreement for Sale and Purchase (ASP) on or after that date?

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4.

Q:

How to calculate BSD? What is the rate of BSD?

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5.

Q:

How to determine whether a person is a HKPR under the Stamp Duty Ordinance (Cap.117) (SDO) or not?

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6.

Q:

Is a company whose shareholders and directors are all HKPRs liable to BSD?

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7.

Q:

Is an agreement for sale signed by a non-HKPR to acquire a residential property and hold it as a trustee for a HKPR subject to BSD?

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8.

Q:

Is the instrument for transfer of a serviced apartment chargeable with BSD?

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9.

Q:

Under what circumstances will BSD be exempted?

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10.

Q:

If a residential property is acquired jointly by a HKPR and his/her spouse who is not a HKPR, will any BSD be payable?

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11.

Q:

For stamp duty purposes, will a parent-in-law be regarded as a close relative?

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12.

Q:

If a residential property is acquired by a HKPR and a non-HKPR who is not the HKPR's close relative, will only half of the price or the value of the property be chargeable with BSD?

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13.

Q:

Mr. A, a HKPR, signed a PASP to purchase a residential property on 15 October 2012. Ms. B (Ms. B is not a HKPR and not a close relative of Mr. A) was added as one of the purchasers to the ASP which was signed on or after 27 October 2012. Will Mr. A and Ms. B be liable to BSD?

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14.

Q:

Mr. A, a HKPR, signed an ASP to purchase a residential property on 15 October 2012. Ms. B (Ms. B is not a HKPR and not a close relative of Mr. A) was added as one of the transferees to the assignment which was executed on or after 27 October 2012. Will Mr. A and Ms. B be liable to BSD?

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15.

Q:

Mr. A signed a PASP to purchase a residential property on 15 October 2012.  Subsequently on or after 27 October 2012, he nominated Mr. B (Mr. B is not a HKPR and not a close relative of Mr. A) to take up the ASP. Will Mr. B be liable to BSD?

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16.

Q:

If a non-HKPR inherits a residential property from a deceased person's estate on or after 27 October 2012, will he/she be liable to BSD?

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17.

Q:

Are Government Grants/Leases chargeable with BSD?

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18.

Q:

Will any relief be given to a person who is not a HKPR but acquiring residential property for redevelopment?

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19.

Q:

Where residential properties in a lot were firstly acquired by several companies and then transferred to a company for redevelopment, will the BSD paid be refunded?

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20.

Q:

Where residential properties in a lot are acquired by several companies for joint development, will the BSD paid be refunded?

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21.

Q:

Will BSD be payable on an instrument of exchange under which a residential property is exchanged for another residential property?

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22.

Q:

Will BSD be payable on an instrument of exchange under which a non-residential property is exchanged for a residential property?

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23.

Q:

When should BSD be paid?

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24.

Q:

Will the BSD paid be refunded if the buyer and seller cancel the agreement for sale after BSD was paid?

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25.

Q:

What documents are required for claiming exemption of BSD by a HKPR buyer/transferee?
(For cases where the instrument has been stamped before the gazettal of the Stamp Duty (Amendment) Ordinance 2014 (“the Amendment Ordinance”), please see Questions 26 and 27 below.)

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26.

Q:

If a HKPR buyer/transferee acquired a residential property on or after 27 October 2012 and has stamped an instrument by e-stamping before the gazettal of the Amendment Ordinance, what documents are required for claiming exemption of BSD?

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27.

Q:

If a HKPR buyer/transferee acquired a residential property on or after 27 October 2012 and has stamped an instrument by conventional stamping before the gazettal of the Amendment Ordinance, what documents are required for claiming exemption of BSD?

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28.

Q:

What documents are required for claiming exemption of BSD for the reason of transfer of residential property between close relatives?

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29.

Q:

What documents are required for claiming exemption of BSD for the reason of acquiring residential property by a HKPR jointly with his/her close relative who is a non-HKPR?

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30.

Q:

Why is a HKPR buyer/transferee required to make statutory declaration in order to claim for exemption of BSD?

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31.

Q:

Why is a copy of the Hong Kong Permanent Resident Identity Card not sufficient to claim for exemption of BSD?

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32.

Q:

Who can take the applicants’ statutory declaration?

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33.

Q:

What are the service hours and address of the oath and affirmation services provided by the IRD?

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34.

Q:

Can a statutory declaration be made outside Hong Kong?

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35.

Q:

Will the IRD accept a statutory declaration made by using the sample form IRSD-xx1 that the IRD sent to the Law Society in February 2013?

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36.

Q:

When should the applicant submit the statutory declaration if the instrument has already been stamped before the gazettal of the Amendment Ordinance?

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37.

Q:

If there is more than one buyer/transferee in the acquisition of a residential property, shall each and every buyer/transferee submit a statutory declaration in support of the exemption of BSD claim?