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Inform IRD your change of correspondence
address promptly. |
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Check your ¡¥Employer¡¦s Return of
Remuneration and Pensions¡¦ (I.R.56B/F/G) carefully.
In case of doubt, clarify with your employer immediately
and inform IRD, if necessary. |
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Claim for deductions under Salaries
Tax (i.e. outgoings and expenses, self-education
expenses, approved charitable donations and mandatory
contribution to the MPF or ORSO Scheme) can be made
in Part 4.3 of the tax return. |
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You must be the registered owner
of your residence in order to claim for the deduction
of the Home Loan Interest. |
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You can claim Home Loan Interest for
a total of 10 years (not necessary for 10 consecutive
years). If the relevant property is solely owned
by you, the maximum amount of home loan interest
deductible for the year 2007/08 is $100,000. |
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The 2008-09 Budgetary proposed the
following tax concessions: |
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From the year of assessment
2008-09 onwards, the deduction ceiling for approved
charitable donations will be raised from 25% to
35% of adjusted assessable income or profits. The
proposal is still subject to the passing of the
relevant legislation by the Legislative Council.
You can report the actual amount of donations you
made in your 2007-08 tax return. The Inland Revenue
Department will assess 2008-09 provisional tax by
reference to such amount of donations. If donations
made in 2008-09 exceed the 2007-08 deduction ceiling
(25% of the income in that year), you can apply
for holding over of your 2008-09 provisional tax
on such ground. |
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Full deduction under profits tax
for capital expenditure on specified machinery or
plant conducive to environmental protection, or
deduction over 5 years for installations of the
same nature. The proposed deduction will apply to
2008/09 and subsequent years of assessment. |
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If you are married and your spouse
does not have any salary income, you should complete
box 79 of the tax return in order to claim for the
Married Person Allowance. |
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You can claim allowance for maintaining
your dependent parent/ grandparent aged 55 or above. |
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When filing your tax return, you
need not supply supporting document for deduction
claimed. However, the supporting documents should
be retained for 7 years for the examination by the
IRD. |
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To rectify any error or omission in
your return after submission, inform IRD soonest
possible. Please state your name, file number, the
relevant year of assessment, details of your amendments
and sign your notification. For details, please
click here. |
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When you receive the Notice of Assessment,
you can read the Assessor's Notes and check if the
assessable income agreed with the income you reported
in the return. |
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If you disagree with the assessment, write in
to object within one month from the date of the
assessment. |
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If your income has been reduced and fulfill the
conditions listed out in the Inland Revenue Ordinance,
you may apply to holdover the provisional tax payable
28 days before the payment due date. |
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You may use the Tax
Computation Program provided in IRD Homepage
to calculate tax payable under salaries tax and
personal assessment: |
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To check the amount of tax savings you can enjoy
as calculated in accordance with the tax relief
measures proposed in the 2008/09 Budget which is
subject to the passing of the relevant legislation
by the Legislative Council. |
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Work out the optimistic basis for allocating
the allowances to be claimed by you and your spouse. |
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See whether you will pay less tax by electing
joint assessment or personal assessment. |
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