Tel: (852) 2528 9298

2nd Floor, Jonsim Place, 228 Queen’s Road East, Wanchai, Hong Kong

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Charged on all income arising in or derived from Hong Kong from office and employments.

Allowances, Deductions and Tax Rate Table
(1)    Table Showing Tax on Net Chargeable Income
Tax payable is calculated at progressive rates on your net chargeable income or at standard rate on your net income (before deduction of the

 

Year of Assessment 2010/11 to 2016/17 2017/18* onwards #
Net Chargeable Income
$
Rate Tax
$
Net Chargeable Income
$
Rate Tax
$
On the First 40.000 2% 800 45.000 2% 900
On the Next 40.000 7% 2.800 45.000 7% 3.150
80.000 3.600 90.000 4.050
On the Next 40.000 12% 4.800 45.000 12% 5.400
Remainder 120.000 17% 8.400 135.000 17% 9.450
Standard Rates of Tax 15% 15%
Year of Assessment % of Tax Reduction Maximum Per Case ($)
2010/11 75% 6.000
2011/12 75% 12.000
2012/13 & 2013/14 75% 10.000
2014/15 75% 20.000
2015/16 75% 20.000
2016/17* 75% 20.000
* Legislative amendments are required for implementing the tax measures as proposed by the Financial Secretary in the 2017-18 Budget.
# until superseded

 

(2) Allowances
2017/18*
Year of Assessment 2016/17 onwards #
$ $
Basic Allowance 132.000 132.000
Married Person’s Allowance 264.000 264.000
Child Allowance    (For each dependant) the 1st to 9th child 100.000 100.000
For each child born during the year, the Child Allowance will be increased by 100,000 100,000
Dependent Brother or Sister Allowance         (For each dependant) 33,000 37,500
Dependent Parent and Dependent Grandparent Allowance (For each dependant)
         Parent / grandparent aged 60 or above or is eligible to claim an allowance under the Government’s Disability Allowance Scheme 46,000 46,000
            Parent / grandparent aged 55 or above but below 60 23,000 23,000
Additional Dependent Parent and Dependent Grandparent Allowance
         Parent / grandparent aged 60 or above or is eligible to claim an allowance under the Government’s Disability Allowance Scheme 46,000 46,000
            Parent / grandparent aged 55 or above but below 60 23,000 23,000
Single Parent Allowance 132,000 132,000
Disabled Dependant Allowance (For each dependant) 66,000 75,000

 

 

(3) Deductions – Maximum Limits
2017/18*
Year of Assessment 2016/17 onwards #
$ $
Expenses of Self-Education 80.000 100.000
Elderly Residential Care Expenses 92.000 92.000
Home Loan Interest 100.000 100.000
Mandatory Contributions to Recognized Retirement Schemes 18.000 18.000
Approved Charitable Donations
[(Income – Allowable Expenses – Depreciation Allowances) x Percentage ] 35% 35%