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Why Us?
Establishing strong and
long standing relations with our clients is our primary objective.
With Us... You have a company providing an efficient, cost-effective
and high-quality audit and within critical time constraints. Besides,
we may help you and your business with our professional advice
on accounting- and business-related solutions.
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Hong
Kong Budget
The Financial Secretary Paul Chan
delivered his 2024/2025 budget speech on 28 February 2024.
We are pleased to summarise the budget 2024/25 proposals on
tax changes, together with other related measures for your
reference.
The tax rates or allowances for the Year of Assessment 2024/2025,
which are tabled below for your easy reference:-
|
Profits
Tax
|
Tax
Rate |
| Corporation (If Qualified, First HK$2 million : 8.25%) |
16.5% |
| Un-incorporation Business (If Qualified, First HK$2 million : 7.50%) |
15.0% |
| Salaries
Tax |
Allowance |
| Single |
$132,000 |
| Married Person |
$264,000 |
| Child - 1st to 9th (each) |
(birth yr)$260,000 |
| Child - 1st to 9th (each) |
(other yr)$130,000 |
| Dependent Parent/Grandparent |
*$50,000 |
| Dependent Parent/Grandparent
(Additional for dependent living with taxpayer) - Aged
60 or up |
*$50,000 |
| Dependent Parent/Grandparent |
**$25,000 |
| Dependent Parent/Grandparent
(Additional for dependent living with taxpayer) - Aged
55-59 |
**$25,000 |
| Dependent Parent/Grandparent
in residential care |
(Max.) $100,000 |
Dependent Brother/Sister
(only
when no child allowance is claimed) |
$37,500 |
| Single Parent |
$132,000 |
| Disable Dependent |
$75,000 |
| Personal Disability |
$75,000 |
| Education |
(Max.) $100,000 |
| Mortgage Relief |
(Max.) $100,000
(20 yrs in total) |
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| Net Chargeable Income |
Tax Rate |
| First $50,000 |
2% |
| Next $50,000 |
6% |
| Next $50,000 |
10% |
| Next $50,000 |
14% |
| Remaining |
17%
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OR
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Standard Rate (under salaries tax or under personal assessment) on Assessable
Income (without allowances) |
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- First HK$5M |
15% |
- Remainder |
16% |
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![Edith W W Chan, CPA (Practising) [Formerly: Edith Chan & Co., CPAs] your trustworthy Certified Public Accountant](images/all.gif)
