Charged on all income arising in or derived from Hong Kong from office and employments.
Tax Rate Table, Allowances and Deductions
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Tax payable is calculated at progressive rates on your net chargeable income or |
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at standard rate on your net income (before deduction of the allowances), |
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whichever is lower. It is further reduced by the tax reduction, subject to a maximum. |
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Net Chargeable Income = Income - Deductions - Allowances |
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Year of Assessment 2017/18 2018/19 onwards #
|
|
|
Net Chargeable Income |
|
Rate |
|
Tax |
|
Net Chargeable Income |
|
Rate |
|
Tax |
|
|
|
|
$ |
|
|
|
$ |
|
$ |
|
|
|
$ |
|
|
On the First |
|
45,000 |
|
2% |
|
900 |
|
50,000 |
|
2% |
|
1,000 |
|
|
On the Next |
|
45.000 |
|
7% |
|
3.150 |
|
50.000 |
|
6% |
|
3.000 |
|
|
On the Next |
|
90,000 |
|
|
|
4,050 |
|
100,000 |
|
|
|
4,000 |
|
|
|
45.000 |
|
12% |
|
5.400 |
|
50.000 |
|
10% |
|
5.000 |
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|
|
|
135,000 |
|
|
|
9,450 |
|
150,000 |
|
|
|
9,000 |
|
|
On the Next |
|
|
|
|
|
|
|
50,000 |
|
14% |
|
7,000 |
|
|
|
|
|
|
|
|
|
|
200,000 |
|
|
|
16,000 |
|
|
Remainder |
|
|
|
17% |
|
|
|
|
|
17% |
|
|
|
|
Standard |
|
|
|
15% |
|
|
|
|
|
15% |
|
|
|
|
Rates of Tax |
|
|
|
|
|
|
|
|
|
|
|
|
Tax Reduction |
|
|
|
|
|
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|
Year of Assessment |
|
% of Tax Reduction |
Maximum Per Case |
|
Applicable Tax Types |
|
|
|
|
|
|
($) |
|
|
|
2012/13 & 2013/14 |
|
75% |
|
10,000 |
|
profits tax, salaries tax and tax under personal assessment |
|
2014/15 to 2016/17 |
|
75% |
|
20,000 |
|
profits tax, salaries tax and tax under personal assessment |
|
2017/18 |
|
75% |
|
30,000 |
|
profits tax, salaries tax and tax under personal assessment |
(2) Allowances |
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|
Year of Assessment |
|
|
2018/19 |
|
|
2017/18 |
|
onwards # |
|
|
$ |
|
$ |
|
Basic Allowance |
132,000 |
|
$ 132,000 |
|
Married Person's Allowance |
264,000 |
|
264,000 |
|
Child Allowance (For each of the 1st to 9th child) |
100,000 |
|
120,000 |
|
For each child born during the year, the Child Allowance will be increased by |
100,000 |
|
120,000 |
|
Dependent Brother or Sister Allowance (For each dependant) |
37,500 |
|
37,500 |
|
Dependent Parent and Dependent Grandparent Allowance(For each dependant) |
|
|
|
|
Parent / grandparent aged 60 or above or is eligible to claim an |
46,000 |
|
50,000 |
|
allowance under the Government's Disability Allowance Scheme |
|
|
|
|
Parent / grandparent aged 55 or above but below 60 |
23,000 |
|
25,000 |
|
Additional Dependent Parent and Dependent Grandparent Allowance |
|
|
|
|
Parent / grandparent aged 60 or above or is eligible to claim an |
46,000 |
|
50,000 |
|
allowance under the Government's Disability Allowance Scheme |
|
|
|
|
Parent / grandparent aged 55 or above but below 60 |
23,000 |
|
25,000 |
|
Single Parent Allowance |
132,000 |
|
132,000 |
|
Personal Disability Allowance |
- |
|
75,000 |
|
Disabled Dependant Allowance (For each dependant) |
75,000 |
|
75,000 |
(3) Deductions - Maximum Limits |
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| 2018/19 | ||||
|
Year of Assessment |
|
2017/18 |
|
onwards # |
|
|
|
$ |
|
$ |
|
Expenses of Self-Education |
|
100,000 |
|
100,000 |
|
Elderly Residential Care Expenses |
|
92,000 |
|
100,000 |
|
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% |
|
# until superseded
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