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28 Ιουν 2024 · Below is a sample salaries tax computation for year of assessment 2024/25 for illustrative purposes. Assumptions: The individual is a married person with two children both below age 18. The individual’s spouse is not working and the two children are maintained by the individual.
- Taxes on Personal Income
All individuals, whether a resident or non-resident of Hong...
- Taxes on Personal Income
(If you and/or your spouse had income chargeable to Property Tax and/or Profits Tax, election for Personal Assessment may reduce your tax liability. Do not complete this Part if you and your spouse had income chargeable to Salaries Tax only.
You may download a specimen of the Tax Return - Individuals (BIR60), in either English or Chinese, which contains a quick guidance on how to complete BIR60. Some key points, with examples, have been highlighted for your attention.
28 Ιουν 2024 · All individuals, whether a resident or non-resident of Hong Kong SAR, are subject to Hong Kong salaries tax on (i) Hong Kong-sourced employment income, (ii) income from an office held in Hong Kong SAR, and (iii) income from a Hong Kong pension.
Before going to the tax rates of salaries tax and personal assessment, you may want to know how to calculate the amount of tax you should pay. This article will also tell you the standard rate and annual income levels at which salaries tax payers approach the standard rate zone.
You can calculate your tax liability under salaries tax or personal assessment by using a simple Tax Calculator developed by the Inland Revenue Department. How Salaries Tax is computed. Salaries Tax payable is calculated at progressive rates on your net chargeable income or at standard rate on your net income, whichever is lower.
Non-resident individual (rendering services in Hong Kong) Know more about: Same-Sex Marriage; Exemptions Relating to Feed-in Tariff Scheme; New Requirements Relating to Double Taxation Relief – Transitional Arrangements for Salaries Tax; Whether termination payment is taxable; Chargeability to Profits Tax on Gain from Property Transactions ...