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Stamp duty anxiety

  1. #31

    Join Date
    Dec 2005
    Posts
    1,062
    Quote Originally Posted by Cornmeal
    Sure except the agent has the forms as he was supposed to them them.
    E-stamping

    http://www.ird.gov.hk/eng/tax/e_stamp.htm
    Cornmeal likes this.

  2. #32

    Join Date
    Aug 2017
    Posts
    59
    Quote Originally Posted by shri
    More than the taxes - landlords are afraid that their banks might find out it is not an occupied property and is a rented property. Different interest rates will apply.

    This is the step they're worried about.
    Lets say that this is the case with my owner, perhaps she didn't realize something and is now trying to work around this or a related mortgage issue.

    If she simply just doesn't want to do the stamp duty for that reason (and is just too embarrassed or scared to come right out and tell me) the rent should be discounted, no? How much less do people pay PM with these types of arrangements? I just want it settled so I don't have to think about it anymore.

    Cheers

  3. #33

    Join Date
    Dec 2002
    Location
    薄扶林
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    18,425

    You're a tenant for 14 months (min) - 24 months. The mortgage rate issue is for the lifetime of the mortgage. Difficult for the owner to switch around just for you and get the lease stamped.

    As others have noted - common for landlords to not stamp the lease. Particularly in the village houses.

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  4. #34

    Join Date
    Aug 2017
    Posts
    59
    Quote Originally Posted by shri
    You're a tenant for 14 months (min) - 24 months. The mortgage rate issue is for the lifetime of the mortgage. Difficult for the owner to switch around just for you and get the lease stamped.

    As others have noted - common for landlords to not stamp the lease. Particularly in the village houses.
    Yes, I'm talking about a hypothetical non-stamping agreement, as the agent suggested they will re-draw the lease. Sorry I thought it was you that mentioned the savings earlier.


    Quote Originally Posted by chuckster007
    ive rented this village house for 11 years and not once did we go for the stamp duty so my rent is below market value as the LL doesnt have to pay for income tax but I loose out on the rental deduction for my income tax i save up to 5K on rent from market value.
    So if this were to become a hypothetical non-stamping agreement and people save rent on said agreements, well how much? Percentage-wise? You said you save 5K but is that off a normally 30K home or what? Just want to have an idea of what might be negotiated in such a case?
    Last edited by Cornmeal; 14-09-2017 at 11:46 AM.

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