Stamp Duty After Abolition — Current AVD, Remissions and Legacy Exposure
Since 28 February 2024 a residential purchase in Hong Kong attracts ad valorem duty only: BSD, NRSD and SSD were abolished and residential rates were aligned with non-residential. That change did not close the file. Transactions signed before that date are still assessable, still disputable and still refundable, and our HKICPA advisors handle both your current position and any legacy duty that was wrongly charged.
Stamp Duty Advisory Specialist
Since 28 February 2024 a residential purchase in Hong Kong attracts ad valorem duty only: BSD, NRSD and SSD were abolished and residential rates were aligned with non-residential. That change did not close the file. Transactions signed before that date are still assessable, still disputable and still refundable, and our HKICPA advisors handle both your current position and any legacy duty that was wrongly charged.
⚠ Abolition Was Not Retrospective — Pre-28 February 2024 Deals Still Carry BSD and SSD
The Stamp Duty (Amendment) Ordinance 2024 removed BSD, NRSD and SSD for residential property transactions on or after 28 February 2024. It did not rewrite history. Where the agreement for sale was dated before that day, the old duties still attach to it, the Collector of Stamp Revenue can still assess and enforce them, and any over-assessment is still recoverable. Anyone who has been told "those duties are gone, forget about it" in relation to a 2022 or 2023 purchase has been told something that could cost them a refund.
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Stale Advice on a Live Assessment
Advisers, brochures and online calculators still quote the pre-2024 regime. Applying repealed BSD rates to a purchase completing today overstates your cost; applying today's rules to a 2023 purchase understates a liability that is still real.
Unclaimed Refunds on Pre-Abolition Purchases
Buyers who paid BSD or NRSD on a purchase dated before 28 February 2024, and sellers charged SSD on an early resale, may still hold a refund or remission entitlement that nobody has ever examined.
Marginal Relief and Band Boundaries Missed
Ad valorem duty steps up in bands and marginal relief smooths the jump at each boundary. Consideration set a little above a boundary can cost considerably more duty than the additional price.
Spousal and Related-Party Transfers Without Advice
Transfers between spouses and other related-party transfers have their own treatment under the Stamp Duty Ordinance, including assessment by reference to market value. Executed without advice they can produce an unexpected assessment and penalties.
適合對象
Confirming your ad valorem position under the current unified rates, including the fixed-duty band and the effect of marginal relief at each band boundary.
Residential and non-residential rates are now aligned, so the old Scale 1 penalty on a second purchase has gone — we confirm your actual exposure before you sign anything.
Buyer's Stamp Duty no longer applies to your purchase. If you bought before 28 February 2024 and paid it, we assess whether any part of it is recoverable.
Portfolio-level duty modelling across acquisitions and disposals, plus review of any Special Stamp Duty charged on pre-abolition early exits.
服務範疇
Pre-Transaction Duty Calculation
Before you sign any agreement for sale, we calculate the exact ad valorem duty payable on the transaction, including the effect of marginal relief at the band boundary.
Buyer Status & Eligibility Review
We confirm your residency and existing ownership position and, where a pre-2024 transaction is involved, whether BSD or NRSD was correctly charged in the first place.
Ownership Structure Advice
Individual versus joint, company versus personal, trust structures — we model the duty and the downstream tax consequences of each before the agreement is signed.
Legacy BSD & SSD Exposure Review
For transactions dated before 28 February 2024 we quantify the BSD, NRSD or SSD that attached and identify every available refund or remission ground.
Stamp Duty Remission Applications
Where duty has been over-assessed or a remission ground exists, we prepare and submit a formal application to the Collector of Stamp Revenue.
簡單、高效、專業
Pre-Transaction Consultation (Before Signing)
Before you sign, we review the property, your ownership and residency position, and the proposed structure, and calculate the duty that will attach to the instrument.
2–4 weeks before signingDuty Calculation & Scenario Modelling
We calculate the duty under each structure and timing option, including any legacy exposure on a pre-abolition agreement, and present one clear total cost table.
24–48 hoursDeclaration Preparation & Documentation
We prepare the statutory declarations the Stamp Office requires and assemble the documentary evidence supporting every position taken on your behalf.
5 working daysAssessment & Remission (Where Applicable)
We submit to the Stamp Office, manage the assessment through to conclusion, and file a remission or refund application wherever the assessed duty exceeds what is legally due.
Ongoing to resolution為真實客戶帶來真實成果
Pre-2024 purchaser — BSD wrongly assessed on a first property
- HK permanent resident, first property purchased at HK$2.5M in 2023
- Stamp Office assessed BSD at 15% on the strength of an overseas family trust interest
- Represented that the overseas asset was not residential property as defined in the Ordinance
Investor — SSD avoided on a pre-abolition holding
- HK$5M flat acquired in 2022, sale originally planned at month 18
- SSD at 10% would have been HK$500,000 and eliminated the entire gain
- Held past the 36-month SSD window — the duty fell away entirely
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