SQE Conveyancing, mortgages and property tax question: Leung signs a PASP to buy a flat in Kowloon City

Answer: D. The PASP pays AVD within 30 days of 1 September; the formal agreement pays HK$100 fixed duty

Answer: the PASP pays AVD within 30 days of its date and the formal agreement pays HK$100. The two are 24 days apart, more than 14 days, so the PASP remains chargeable. Why not the others: - Formal agreement pays AVD and the PASP drops out: that applies only if the formal agreement is signed within 14 days of the PASP. - PASP within 14 days: the stamping period is 30 days; 14 days is the gap that decides which document bears AVD. - Both pay AVD with a credit: there is no such credit mechanism; the later agreement is charged HK$100 fixed duty. Rule: Where a PASP and formal agreement are more than 14 days apart, AVD is paid on the PASP within 30 days and the formal agreement pays HK$100. Source: Stamp Duty Ordinance (Cap. 117); IRD Stamp Office Interpretation & Practice Notes No. 1 (Revised), paras 30-32; as at Oct 2026