Property Tax

2010-03-05 5:28 pm

I have heard that if I purchased an apartment and sold it within a very short period of time (e.g. 2 months), the "profit" from it is taxable.

Is it true?

If yes, then is there any reference from IRD or any other website?

Thanks & Regards

更新1:

Saint02005 - I understand that. I do have some fds making money from purchase and sell apartments. However, IRD has never challenged them for to pay tax.

更新2:

My fds claimed that as long as the activity was not carried on by business body, then the profit will not be taxable. Yet, I couldn't find any reference from IRD website specifying it. Do you have any reference?

回答 (1)

Maverick

2010-03-06 12:13 am

✔ 最佳答案

Taxation in Hong Kong is based on whether the transaction amounts to 'trading'. If you purchased a flat and sold it out in a very short period of time, any one can see that you are trading. You can refer to Inland Revenue Ordinance if you like but there are no taxpayer foolish enough to challenge IRD on this point and therefore there is no case reference.
Hope it helps!

👍 0 👎 0