Tax rate

Room 602, 6/F., Taurus Building

21A/B Granville Road, Tsimshatsui, Hong Kong

Tel: (852)27399698 Fax: (852)27399313

Email: vc@vcpa.com.hk

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TAX RATES New: The 2007–08 Budget

- Profits tax

- Salaries tax

- Property tax

- Personal allowances

- Deductions

　

　

Profits tax

	2008/09	2007/08
Corporation	16.5%	17.5%
Others	15%	16%

　

Salaries tax

	2008/09	2007/08
First HK$40,000	2%
Next HK$40,000	7%
Next HK$40,000	12%
Remainder	17%
First HK$35,000		2%
Next HK$35,000		7%
Next 35,000		12%
Remainder		17%

　

Property tax

	2008/09	2007/08
	15%	16%

　

Personal allowances

	2008/09	2007/08
	HK$	HK$

Single	108,000	100,000
Married	216,000	200,000
Child
- 1st to 9th child (each)	50,000	50,000
Additional allowance for each child born during the year	50,000	50,000
Dependent parent/grandparent (each)
- residing with taxpayer	60,000	60,000
- not residing with taxpayer	30,000	30,000
Single parent	108,000	100,000
Dependent brother/sister (each)	30,000	30,000
Disable dependent (each)	60,000	60,000

　

Deductions

	2008/09	2007/08
	HK$	HK$
Self-education expenses
(maximum)	60,000	60,000
Home mortgage interest
(maximum)	100,000	100,000
Elderly residential care expenses
(maximum)	60,000	60,000

　

　

　

　

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K. Y. Chan & Co. is a registered firm of the Hong Kong Institute of Certified Public Accountants

　

　

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K. Y. CHAN & CO.

Room 602, 6/F., Taurus Building

21A/B Granville Road

Tsimshatsui

Hong Kong

　

Tel: (852)27399698

Tel: (852)27399313

Email: vc@vcpa.com.hk

　

　