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Unit 1101, 11th floor, Enterprise Square V Tower 1, 9 Sheung Yuet Road, Kowloon Bay, Kowloon, Hong Kong SAR +852 6838 8308 [email protected]
📋 Key Facts at a Glance Annual Deduction Caps: MPF/Annuity: HK$60,000, Home Loan Interest: HK$100,000, Domestic Rent: HK$100,000, Self-Education: HK$100,000. Family Allowances (2024/25): Basic: HK$132,000, Married:
📋 Key Facts at a Glance Personal Deductions: Self-education expenses up to HK$100,000; MPF contributions up to HK$18,000; Qualifying annuity/voluntary MPF up to HK$60,000. Family Allowances:
📋 Key Facts at a Glance Basic Personal Allowance (2024/25): HK$132,000 for all individual taxpayers. Married Person’s Allowance (2024/25): HK$264,000, but only one spouse can claim
📋 Key Facts at a Glance Tax Year: April 1 to March 31. Tax returns are typically issued in early May. Key Deduction Caps: MPF contributions
📋 Key Facts at a Glance Tax Returns Issued: Early May annually (BIR60 forms) Standard Paper Deadline: Early November (typically 1 month from issue) eTAX Extension:
📋 Key Facts at a Glance Objection Deadline: 1 month from assessment notice date (strictly enforced) Appeal Deadline: 1 month from IRD determination letter (Form IR
📋 Key Facts at a Glance Critical Choice: Hong Kong taxpayers can choose between progressive tax rates or standard rate – you pay whichever is lower
📋 Key Facts at a Glance Two Calculation Methods: Hong Kong uses both progressive rates (2%-17%) and standard rates (15%-16%), with taxpayers paying the lower amount
📋 Key Facts at a Glance Maximum Annual Savings: You could save up to HK$10,200 annually by maximizing voluntary retirement contributions (HK$60,000 × 17% top rate)
📋 Key Facts at a Glance Tax Scope: Salaries Tax targets employment income; Profits Tax targets business income Tax Rates: Salaries Tax uses progressive rates (2%-17%)