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Stamp Duty on Property Transactions

68.       It is the aspiration of most middle-class families to purchase their own home.  I therefore propose to reduce the rate of stamp duty on transactions of properties with a value between $1 million and $2 million from 0.75 per cent to a fixed amount of $100, which is the same level of duty as for properties with a value at or below $1 million.  This proposal comes into immediate effect.  It will benefit about 30 000 home buyers and cost the Government about $250 million a year.


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2006 | Important notices

Last revision date : 28 February, 2007