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Friday 17 May 2024
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ORIGINAL POST
Posted by
associates
12 yrs ago
Be aware that ANY profit made on the re-sale of a property within 2 years will be considered prima facie profit and subject to profits tax (i.e. NOT capital gain and exempt from tax)….the two year ‘shelter’ period will be extended IF the seller can be seen as ‘trading in real estate’ as the IRD will rightly consider such repeated activity as a business.
Weir & Associates
Solicitors & Notaries
16th Floor Tak Shing House
20 Des Voeux Road Central
Central
Hong Kong
Tel : 2526-1767
Fax : 2868-3568
Email : Weir & Associates
www.HongKongLaw.com/weirlaw
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