Charged on all income arising in or derived from Hong Kong from office and employments.
Tax Rate Table, Allowances and Deductions
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 |
|
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 |
||
|
|
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 |
|
|
|
|
|
|
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
|