Govt cuts tax bills, provides extra benefit payments - RTHK
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Govt cuts tax bills, provides extra benefit payments

2020-02-26 HKT 12:42
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  • Govt cuts tax bills, provides extra benefit payments
Financial Secretary Paul Chan announced on Wednesday that the government will once again reduce the amount of salaries tax workers have to pay, with a 100 percent reduction for the 2019/2020 assessment year, capped at HK$20,000.

This reduction is the same as that provided last year and is expected to benefit 1.95 million taxpayers and cost the government HK$18.8 billion.

Chan said to ease the financial burden on Hongkongers, he will also waive rates for residential flats for the 2020/2021 financial year, capped at HK$1,500 per quarter. This move will benefit the owners of some 2.93 million properties.

An extra month's payment will be given to recipients of the Comprehensive Social Security Assistance, Old Age Living Allowance, Disability Allowance and Work Incentive Transport Subsidy.

The government will also waive one month’s rent for low-income tenants living in public housing estates and pay the Diploma of Secondary Education fees for students sitting next year's exams.

All these measures will cost the government HK$38.3 billion.