A loving mother is admirable, a loving mother with high knowledge is even more powerful.
2023-9-1
The Economic Daily reported earlier this week that the convener of the Executive Council, Yap Lau Suk-yee, bought a residential unit for her daughter to live in. Is it surprising that parents buy a house for their children? Is there anything worth reporting?
Ms IP may give people a strong impression because of her former position as the Secretary for Security. But when it comes to their children, every mother is a loving mother.
It is inevitable that Ms. Ip is a member of the Council and has a high level of knowledge.
According to a report by the Economic Daily, Ms Ip bought a residential unit worth 51.8 million by purchasing a company, which saved 7.66 million in stamp fees compared to buying a residential unit directly. Such a highly knowledgeable and loving mother is even more incredible.
According to Hong Kong law, more than 10% stamp fee is required to be paid for the purchase of residential properties, but the acquisition company (holding property) only needs to pay 0.2% stamp fee, which is quite different.
This is actually just a small trick. Of course, ordinary citizens and investors may not be familiar with various tax-saving methods, but if you have a familiar and experienced professional, such as an accountant, as long as you make more inquiries and learn more, there are actually many ways to reduce taxes legally and reasonably.
Accountant So Kwok Wing has more than 30 years of professional service experience in Hong Kong, including accounting and tax planning. If you have any questions or plans about taxation or company structure, please contact us.
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