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2010 Hong Kong Budget

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  1. #11

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    Yes, it would be nice if property could be for people to live in, rather than for speculating upon.

    Hmm, what was that? I dozed off? Muttering something about property in my sleep?


  2. #12

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    Quote Originally Posted by Sigga:
    Yes, it would be nice if property could be for people to live in, rather than for speculating upon.
    my point excalty

    3.37 Bilion for a freaking plot of land in a city that did not even exist 15 years ago isn't going to help.....

  3. #13

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    Oct 2009
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    Quote Originally Posted by PDLM:
    The Hong Kong budget says nothing about what you can take into (mainland) China. The most you can bring into HK duty free is 60 cigarettes (3 packets). Beyond that you can bring in more, but you would need to pay duty. What the budget might do (I have no idea) is raise the duty on a packet of cigarettes in Hong Kong.
    Many thanks PDLM.
    I find it very strange that HK is the only place that allow to bring in 60 cigarettes while everywhere is max of 200 cigarettes

    Do you know roughly how much duty have to pay for extra 3 packets if i return to HK tonight (want to bring back total of 6 packets)? THis is proberly a million dollar question....
    Last edited by eggmonster; 23-02-2010 at 05:36 PM.

  4. #14

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    The duty on cigarettes above the duty-free limit is HK$1.206 per stick. So 3 extra packets of 20 will cost you $72.36.

    And different countries have different limits. For example, you may not take ANY cigarettes into Singapore without paying duty.

    Last edited by PDLM; 23-02-2010 at 05:39 PM.
    eggmonster likes this.

  5. #15

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    Quote Originally Posted by PDLM:
    The duty on cigarettes above the duty-free limit is HK$1.206 per stick. So 3 extra packets of 20 will cost you $72.36.
    Many thanks.....thats not to bad i think. Thought it will be more.......

  6. #16

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    It couldn't be much more - what does a packet of 20 cost retail here? $40-ish?


  7. #17

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    Cigs cost about 40 depending on brand (Dunhill $40, 555 $41). One of the reasons for the low allowance is that people travel very frequently here and the price of cigarettes is a lot lower elsewhere in Asia (Singapore and Japan excepted).


  8. #18

    Join Date
    Jul 2004
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    Quote Originally Posted by Skyhook:
    The property market is going great guns, why cool it down?

    Contrary to all the doom sayers last year who kept saying there would be a market correction, there is no sign it's going to slow down any time soon.

    The year of the tiger will be a bumper year for anybody that purchased properties early last year, you'll make a very tidy earner.



    Unemployment is low, interest rates are low, and the property market has seen very nice positive growth. Confidence is back, be happy.
    Anyone following this advice is heading for big fall. I've seen a few bubbles in my life, and read extensively about others as part of my professional curiosity. There is zero doubt in my mind that Hong Kong (and China generally) property is in a huge asset bubble that is going to burst very nastily and make a lot of people homeless and/or bankrupt.

    The post above exemplifies exactly the human frailties - greed and the suspension of rational thought - that propagate and sustain bubbles. Human greed - the belief in "something for nothing" is the root of all bubbles, where an assets price becomes uncorrelated with it's economic value and people buy because "it's going up".

    When bubbles burst, buyers disappear and liquidity drains from markets faster than punters during a police raid at a Mongkok sauna.

    Panic replaces greed and first the trickle of sellers becomes a stream, then a river and then a full on flood... as asset prices keep tumbling, the magic of leverage on the way up turns into a horror show on the way down.

    Beware anyone considering buying Hong Kong property as an investment now - you might as well set fire to your money.

  9. #19

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    Oct 2008
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    Also, most of the millionaire are from China in Hong Kong. Hong Kong consist a little percentage.

    They are: retired too

    according to tvb news jade at 6:30 pm.


  10. #20

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    My predictions:-

    1) Duty on Cigs up $5-10
    2) A new set of random initiatives
    3) Radio silence on past ones (electric cars, Islamic finance)

    What I would like to see but have no hope in hell seeing-

    1) Heavy road tax on emission spewing trucks whose scrap value is likely to be zero and no one else in the third world would want.