a. the first $150,000 of taxable value
b. on the next $150,000
c. on the next $200,000
d. on the remainder
I got that from the Government's website (don't exactly understand it); I'm guessing that anything over $500k base price is subject to 100% tax. To put that in perspective, if I remember correctly a Ferrari F430's base price is around $1.8 mil - 2 mil, so it would cost about $4 mil HK; over 500k USD.