| Property consideration | Existing | Proposed |
| Up to $500,000 | $100 | $100 |
| $500,001 - $750,000 | 0.75% | $100 |
| $750,001 - $1,000,000 | 0.75% | 0.75% |
| $1,000,001 - $1,500,000 | 1.50% | 0.75% |
| $1,500,001 - $2,000,000 | 1.50% | 1.50% |
| $2,000,001 - $2,500,000 | 2.00% | 1.50% |
| $2,500,001 - $3,000,000 | 2.00% | 2.00% |
| $3,000,001 - $3,500,000 | 2.75% | 2.00% | Over $3,500,000 | 2.75% | 2.75% |
(ii) Broad effect of the concession on property transactions
| Property consideration | Estimated number of properties which will be affected under the proposal | Average stamp duty saved per affected transaction | |
| Up to $750,000 | 8,900 | 4,500 | |
| $750,001-$1,500,000 | 27,200 | 9,200 | |
| $1,500,001-$2,500,000 | 11,400 | 10,500 | |
| $2,500,001-$3,500,000 | 6,200 | 22,600 | |
| Total | 53,700 |
(iii) Examples to show the effect of adjustments to the schedule of stamp duty rates
| Property consideration | Duty payable | Duty saved | |||
| Existing | Proposed | Amount | Percentage | ||
| ($) | ($) | ($) | ($) | ($) | |
| 750,000 | 5,625 | 100 | 5,525 | 98 | |
| 1,500,000 | 22,500 | 11,250 | 11,250 | 50 | |
| 2,500,000 | 50,000 | 37,500 | 12,500 | 25 | |
| 3,500,000 | 96,250 | 70,000 | 26,250 | 27 | |
Comparison of existing and proposed rates of estate duty (subject to marginal relief)
| Estate value | Existing | Proposed |
| Up to $6,000,000 | No duty | No duty |
| $6,000,001 to $6,500,000 | 6% | No duty |
| $6,500,001 to $7,000,000 | 6% | 6% |
| $7,000,001 to $8,000,000 | 12% | 6% |
| $8,000,001 to 9,500,000 | 18% | 12% |
| Over 9,500,000 | 18% | 18% |
| Present rate | Proposed rate | |
| ($ per litre) | ($ per litre) | |
| Aircraft spirit | 5.31 | 5.79 |
| Light diesel oil | 2.65 | 2.89 |
| Motor spirit (leaded petrol) | 5.90 | 6.43 |
| Motor spirit (unleaded petrol) | 5.25 | 5.72 |
| Present rate | Proposed rate | |
| ($ per 1,000 sticks) | ($ per 1,000 sticks) | |
| Cigarettes | 626 | 682 |
| ($ per Kg) | ($ per Kg) | |
| Cigars | 805 | 877 |
| Chinese prepared tobacco | 153 | 167 |
| All other manufactured tobacco except tobacco intended for the manufacture of cigarettes | 757 | 825 |
[1996-97 Budget Speech]