Salaries Tax / Personal Assessment - Allowances and Deductions

Allowances and Deductions    
   
 2012/13   2011/12   2010/11   2009/10   2008/09   2007/08   2006/07   
 HK$   HK$   HK$   HK$   HK$   HK$   HK$   
Allowances  
Basic Allowance 　 　 　 　 　             120,000              108,000         108,000         108,000         108,000         100,000         100,000   
Married Person's Allowance 　 　 　 　             240,000              216,000         216,000         216,000         216,000         200,000         200,000   
Child Allowance (For each dependant) the 1st to 9th child 　               63,000                60,000           50,000           50,000           50,000           50,000           40,000   
For each child born during the year, the Child Allowance wil be increased by               63,000                60,000           50,000           50,000           50,000           50,000                    -    
Dependent Brother / Sister Allowance (For each dependant) 　               33,000                30,000           30,000           30,000           30,000           30,000           30,000   
Dependent Parent / Grandparent Allowance (For each dependant) 　 　 　 　 　 　 　  
     Parent / grandparent aged 60 or above or is eligible to claim an allowance               38,000                36,000           30,000           30,000           30,000           30,000           30,000   
          under the Government's Diaability Allowance Scheme 　 　 　  
     Parent / grandparent aged 55 or above but below 60 　               19,000                18,000           15,000           15,000           15,000           15,000           15,000   
Additional Dependent Parent / Grandparent Allowance (For each dependant) 　 　 　 　 　 　 　  
     Parent / grandparent aged 60 or above or is eligible to claim an allowance               38,000                36,000           30,000           30,000           30,000           30,000           30,000   
          under the Government's Diaability Allowance Scheme 　 　 　  
     Parent / grandparent aged 55 or above but below 60 　               19,000                18,000           15,000           15,000           15,000           15,000           15,000   
Single Parent Allowance 　 　 　 　             120,000              108,000         108,000         108,000         108,000         100,000         100,000   
Disabled Dependant Allowance (For each dependant) 　               66,000                60,000           60,000           60,000           60,000           60,000           60,000   
 
 
 2012/13   2011/12   2010/11   2009/10   2008/09   2007/08   2006/07   
 HK$   HK$   HK$   HK$   HK$   HK$   HK$   
Deductions - Maximum Limits  
Expenses of Self-Education               60,000                60,000           60,000           60,000           60,000           60,000           40,000  
Elderly Residential Care Expenses               76,000                72,000           60,000           60,000           60,000           60,000           60,000  
Home Loan Interest             100,000              100,000         100,000         100,000         100,000         100,000         100,000  
Mandatory Contributions to Recognized Retirement Schemes               14,500                12,000           12,000           12,000           12,000           12,000           12,000  
Approved Charitable Donations 35%  35% 35% 35% 35% 25% 25%  
[ (Income - Allowable Expenses - Depreciation Allowance) X Percentage ]    

                                          Last Update: 30 June 2012