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  Home > Tax Information - Individuals/Businesses > Completion and Filing of Property Tax Returns

Completion and Filing of Property Tax Returns


Completion of Property Tax return 

(1) B.I.R. 57 

Property Tax Return B.I.R. 57 is used for reporting income from property jointly owned or co-owned by an individual with other person(s). "Other persons" include corporation and body of persons.

A "Notes and Instructions" sheet is sent together with the tax return. Please read it carefully before completing the return. The following may help you :

(a) Part 4 of the tax return:

  1. The top portion of Part 4 must be completed. If the property was not let during the year, please put a "" in the box against "No". Otherwise, please put a "" in the box against "Yes" and state the rental details in Part 4.1 to 4.4.
  2. Rental income includes rent received or receivable, lease premium and irrecoverable rent recovered during the year.
  3. Only rates agreed to be paid and actually paid by owners and irrecoverable rent can be claimed for deduction. Government rent, management fees, renovation or refurbishment expenses are non-deductible.
  4. The Ordinance stipulates a flat rate of 20% on the balance of the rental income after deduction of rates paid by owner(s) and the irrecoverable rent as allowable deduction for repairs and expenses. It will be automatically granted in the assessment.
  5. Mortgage loan interest incurred for the acquisition of a property let is not deductible in computing the Property Tax payable. Deduction for the interest expenses will only be considered under Personal Assessment, and such claim must be made in a Tax Return - Individuals (B.I.R. 60).

(b) Part 1 of the tax return :

If any one of the owners wishes to elect for personal assessment for the year, please complete the "Elect for Personal Assessment" column in Part 1. To complete the election process, the individual owner may be required to complete a Tax Return - Individuals (B.I.R. 60), which may be sent to him/her later. Please note that if the owner is a married person and both of them have income chargeable to tax, the election must be made by the couple jointly in the Tax Return-Individuals. Please read Personal Assessment for more information about election for personal assessment by a married couple.

See Demonstration on how to complete B.I.R. 57.

Also see Property Tax : What you need to know as a property owner for more information about how property tax is charged on income from properties.

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(2) B.I.R. 58 
Property Tax Return B.I.R. 58 is used for reporting income from property held by corporations or bodies of persons.

A "Notes and Instructions" sheet is sent together with the tax return. Please read it carefully before completing the return. The following may help you:

(a) Part 4 of the tax return:

This Part must be completed even though you apply for exemption from Property Tax.

(b) Part 1 of the tax return:

A corporation letting property in Hong Kong is carrying on business in Hong Kong and subject to Profits Tax in respect of its property income. If your corporation carrying on a business in Hong Kong wishes to apply for exemption from Property Tax under section 5(2)(a) of the Inland Revenue Ordinance, please complete the "Apply for Exemption from Property Tax" column in Part 1 to enable us to process your case more expeditiously.

See Demonstration on how to complete B.I.R. 58.

Also see Property Tax : What you need to know as a property owner for more information about how property tax is charged on income from properties.

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Filing of Property Tax return 

(1) Time limit for filing 
Property tax returns B.I.R. 57 and B.I.R. 58 should be filed within 1 month of the date of issue.

If your case meets the criteria specified by the Commissioner and you file the return through the internet, an extension of 2 weeks will be given automatically. Please read Electronic Filing of Property Tax Return (B.I.R. 57) for more information about electronic filing.

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(2) Request for a duplicate return 

Please click here for information of requesting for a duplicated tax return.

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(3) Filing of Paper return 

If you file paper tax return, you must submit the original tax return issued by us. Photocopies or fax copies of tax returns are NOT acceptable. Filing a copy of the tax return which was downloaded from the Internet is also NOT acceptable.

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(4) Electronic Filing of B.I.R. 57 (Internet Filing) 

See

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Common questions and answers 

For common questions and answers on completion of Property Tax returns, please click here.

 

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