Personal Tax
Personal tax is often referring as salary tax in Hong Kong. A person’s income from employment, less allowable deductions and charitable donations is therefore chargeable as personal tax. This tax is calculated at progressive rates on your net chargeable income or at standard rate on your net income( before any deductions of the allowances), whichever is the lower. The personal tax reduction is further reduced subject to a maximum.
Allowance
There are 6 major types of allowance for individual. Herein-below is the table with each category:
| Allowances for individuals | 2020-2021 | |
| HKD | ||
| Personal allowances | Basic | 132,000 |
| Married | 264,000 | |
| Single parent | 132,000 | |
| Disabled | 75,000 | |
| Child allowances | 1st to 9th child (each) | |
| With Year of birth in 2020 | 240,000 | |
| Born Other years | 120,000 | |
| Dependent parent and grandparent allowances | Aged 60 or above | 50,000 |
| Aged between 55 and 59 | 25,000 | |
| Additional dependent parent and grandparent allowances | Aged 60 or above | 50,000 |
| Aged between 55 and 59 | 25,000 | |
| Disabled dependent (spouse/child/parent/ grandparent/brother/sister) allowances | 75,000 | |
| Dependent brother/sister allowances | 37,500 | |
For further information, please contact us.
You may want to know: TAX DEDUCTION FOR CHARITABLE DONATIONS IN HONG KONG