In the Budget of the HKSAR for the year 1999-2000, there are proposals in regard of the stamping of instruments for landed property transactions. These proposals have become effective since 1 April 1999.

Besides the revision of stamp duty rates, the new measures include Deferring Payment of Stamp Duty on Chargeable Agreements and Exemption to Uncompleted Agreements. Practitioners should pay special attention to these two new measures.

Practitioners are advised to familiarize themselves with the new measures when providing services to their clients in property sales. New Measures in Relation to the Stamp Duty on Property Transactions and Current Rates of Stamp Duty issued by the Stamp Office are attached for reference.