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4.15 The seller's stamp duty on the sale of residential
properties within three years of purchase was
introduced in 1996 to curb property speculation
and to stabilise the property market. It was suspended
indefinitely in November 1997 when the property
market cooled down. Since the property market
is stable, there is no longer any need to retain
the seller's stamp duty. I have therefore decided
to abolish this duty.
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