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Momentum 107

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ken ng

on 25 May 2014

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Transcript of Momentum 107

* Established In July 2007

* The first taxpayer organization in Hong Kong

* To promote the idea of Lower Tax, Less Waste and Efficiency Government.

* Naming was from the Hong Kong Basic Law Article 107

* The Hong Kong SAR shall follow the principle of keeping expenditure within the limits of revenues in drawing up its budget, and strive to achieve a fiscal balance, avoid deficits and keep the budget to commensurate with the growth rate of its gross domestic products.

* DSD (Double Stamp Duty)

* Doubling across the board the rates of existing ad valorem stamp duty applicable to both residential and non-residential properties.

* Apply to Hong Kong permanent resident buyers who over one residential property in Hong Kong at the time of acquisition of a residential property.

→-----> Freeze social mobility
SSD (Special Stamp Duty), BSD (Buyer Stamp Duty), DSD (Double Stamp Duty)
International media coverageThe Associated Press, Agence France Press, Reuter's News Agency, Al Jazeera etc
Momentum 107
DSD Relaxation On May 13, 2014
* Relax the "six-month" timeframe for owners having acquired a new residential property before disposing of their original one.

* Exemption arrangement in respect of acquisition of a residential property with a car parking space.
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