Most commonly used sections
Cap 111 EDO Section.2 Application
- This Ordinance is to apply in the case of every deceased person who dies on or after January 1, 1916, and before February 11, 2006.
Cap 111 EDO Section.3 Interpretation
- Some terms used in this Ordinance are interpreted including the following key words:
- "account" (遺產呈報表)
- "affidavit for the Commissioner" (遺產申報誓章)
- "executor" (遺囑執行人) means the executor or administrator of a deceased person.
- "property passing on the death" (去世時轉移的財產)
Cap 111 EDO Section.5 Estate duty
Cap 111 EDO Section.6 What property is deemed to pass on death
Cap 111 EDO Section.10 Exceptions for transactions with money consideration, non-HK property, stocks & certain land in the N.T. HK.
Cap 111 EDO Section.10A Exceptions for matrimonial home
Cap 111 EDO Section.12 Payment of estate duty
Cap 111 EDO Section.13 Value of property; allowance for debts and funeral expenses
Cap 111 EDO Section.16 Increase of estate duty when delay in lodging affidavit
Cap 111 EDO Section.18 Charge of estate duty on property
Cap 111 EDO Section.22 Appeal to Court of First Instance
Cap 111 EDO Section.31 Relief in respect of quick succession where property consists of leasehold property or a business
Cap 111 EDO Section.34 Controlled companies
Cap 111 EDO Section.35 Charge on assets of controlled companies
Cap 111 EDO Section.44 Value of shares and debentures of controlled companies
Cap 111 EDO Section.45 Limitation on dispositions through a controlled company in favour of relatives
Cap 111 Sched 1 Table of Estate duty rates to be payable
The Kowloon-Canton Railway Corporation was established in 1982 under the Kowloon-Canton Railway Corporation Ordinance for the purposes of operating the Kowloon–Canton Railway (KCR), and to construct and operate other new railways. On 2 December 2007, the MTR Corporation Limited, another railway operator in Hong Kong, took over the operation of the KCR network under a 50-year service concession agreement, which can be extended. Under the service concession, KCRC retains ownership of the KCR network with the MTR Corporation Limited making annual payments to KCRC for the right to operate the network. The KCRC is wholly owned by the Government of Hong Kong and its activities are governed by the KCRC Ordinance as amended in 2007 by the Rail Merger Ordinance to enable the service concession agreement to be entered into with the MTR Corporation Limited.
Stamp duty is a tax that is levied on single property purchases or documents. A physical revenue stamp had to be attached to or impressed upon the document to show that stamp duty had been paid before the document was legally effective. More modern versions of the tax no longer require an actual stamp.
An encumbrance is a right to, interest in, or legal liability on property that does not prohibit passing title to the property but that may diminish its value. Encumbrances can be classified in several ways. They may be financial or non-financial. Alternatively, they may be divided into those that affect title or those that affect the use or physical condition of the encumbered property. Encumbrances include security interests, liens, servitudes, leases, restrictions, encroachments, and air and subsurface rights. Also, those considered as potentially making the title defeasible are encumbrances, for example, charging orders, building orders and structure alteration. Encumbrance: charge upon or claim against land arising out of private grant or a contract.
Probate is the judicial process whereby a will is "proved" in a court of law and accepted as a valid public document that is the true last testament of the deceased, or whereby the estate is settled according to the laws of intestacy in the state of residence of the deceased at time of death in the absence of a legal will.
Property management is the operation, control, maintenance, and oversight of real estate and physical property. This can include residential, commercial, and land real estate. Management indicates the need of real estate to be cared for and monitored, with accountability for and attention its useful life and condition considered. This is much akin to the role of management in any business.
Link Real Estate Investment Trust (Chinese: 領展房地產投資信託基金, or 領展; previously known as The Link Real Estate Investment Trust, managed by Link Asset Management Limited, is the first real estate investment trust in Hong Kong and currently the largest in Asia in terms of market capitalisation. It is wholly owned by private and institutional investors.
The law of the Hong Kong Special Administrative Region has its foundation in the English common law system, inherited from being a former British colony and dependent territory. There are several sources of law, the primary ones being statutes enacted by the Legislative Council of Hong Kong and case law made by decisions of the courts of Hong Kong.
The District Court is the lower court system in Hong Kong, having both criminal and civil jurisdictions. It is located in the Wanchai Law Courts, Wanchai Tower, 12 Harbour Road. In the past there were six district courts, namely Victoria, Kowloon, Fanling, Tsuen Wan, Tuen Mun and Sha Tin, before being amalgamated and moved to the same location in March 1991.
Henderson Land Development Co. Ltd. is a listed property developer in Hong Kong and a constituent of the Hang Seng Index. The company's principal activities are property development and investment, project management, construction, hotel operation, department store operation, finance, investment holding and infrastructure. It is the third largest Hong Kong real estate developer by market capitalisation. The company is controlled by Lee Shau Kee, who owns approximately 70.17% of the share capital as of June 2015.
The Hong Kong Science and Technology Parks Corporation (HKSTP) is a public corporation set up by the Hong Kong Government in 2001 to foster the development of innovation and technology in Hong Kong.
Salaries tax is a type of income tax that is levied in Hong Kong, chargeable on income from any office, employment and pension for a year of assessment arising in or derived from the territory. For purposes of calculating liability, the period of assessment is from April 1 to March 31 of the following year.
The Inland Revenue Department (IRD) is the Hong Kong government department responsible for collecting taxes and duties.
In Hong Kong, profits tax is an income tax chargeable to business carried on in Hong Kong. Applying the territorial taxation concept, only profits sourced in Hong Kong are taxable in general. Capital gains are not taxable in Hong Kong, although it is always arguable whether an income is capital in nature.
The Inland Revenue Ordinance is one of Hong Kong's Ordinances. It regulates the inland revenue of Hong Kong.
An inheritance tax is a tax paid by a person who inherits money or property of a person who has died, whereas an estate tax is a levy on the estate of a person who has died.
Under Article 108 of the Basic Law of Hong Kong, the taxation system in Hong Kong is independent of, and different from, the taxation system in mainland China. In addition, under Article 106 of the Hong Kong Basic Law, Hong Kong has independent public finance, and no tax revenue is handed over to the Central Government in China. The taxation system in Hong Kong is generally considered to be one of the most simple, transparent, and straightforward systems in the world. Taxes are collected through the Inland Revenue Department (IRD).
Yung Fung-shee was a Hong Kong philanthropist. The Yungs were closely associated with the Chartered Bank. Fung-shee's grandfather, Yung Leung was the first comprador of the Chartered Bank, while several of his descendants, including one of his sons Yung Yik-ting, had successively held key positions such as compradors and sub-compradors in the Bank. Fung-shee, who kept a low-profile, had earned large sums of profits investment of securities. Her will in 1969 provided that assets valued at HK$3 million would go to the Hong Kong Government for the construction of free healthcare centres and clinics for the needy. By the time of her death in August 1972, the value of bequest had grown to HK$16 million, and HK$51 million by late 1978, funding Yung Fung Shee Memorial Centre in Kwun Tong, Kowloon and Madam Yung Fung Shee Health Centre in Yuen Long, New Territories, which costed HK$70 million and HK$32 million respectively.
Hong Kong insolvency law regulates the position of companies which are in financial distress and are unable to pay or provide for all of their debts or other obligations, and matters ancillary to and arising from financial distress. The law in this area is now primarily governed by the Companies Ordinance and the Companies Rules. Prior to 2012 Cap 32 was called the Companies Ordinance, but when the Companies Ordinance came into force in 2014, most of the provisions of Cap 32 were repealed except for the provisions relating to insolvency, which were retained and the statute was renamed to reflect its new principal focus.
Kowloon Development Company Limited is a property development company based and listed in Hong Kong. It focuses on the property development and investment sector. Kowloon Development is also a stakeholder of Polytec Asset Holdings Limited.
Hong Lok Yuen is a low-density luxury residential housing estate in Tai Po District, New Territories, Hong Kong, located near Cloudy Hill.
