前稅局評稅主任楊輝洪 Qualifications

Raymond Yeung Tax Consultant former Assessor of Inland Revenue Department * Service charge $500/hr

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yeungfhr@yahoo.com.hk * Tel /WhatsApp /WeChat 94735846  

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   A checklist for reduction of salaries tax

  1. All your services done outside Hong Kong? If yes, you pay no tax. Click here for details.

  2. You visit Hong Kong during the year of assessment for not more than 60 days? If yes, you pay no tax. Click here for details.

  3. You are employed by an overseas company and you work both within and outside Hong Kong. In that case, your income attributable to services outside Hong Kong is not taxable. Click here for details.

  4. You receive a compensation from your employer which is not a reward of services. In that case, the compensation is not taxable. Click here for details.

  5. You receive from your employer a gift on your marriage, passing an examination, during annual dinner... etc.? If yes, the gift is not taxable. Click here for details.

  6. You are paid a lump sum on your retirement? If yes, the lump sum is not taxable. Click here for details.

  7. You are granted a share option to purchase shares but you have not exercised the share option. In that case, the share option is not taxable. Click here for details.

  8. You receive shares from your employer but you cannot sell the shares within a certain period. In that case, the “shares” are taxable but you can claim a very big discount from their valuation because of the restriction on sale. Furthermore, if they are private shares, you can claim a big discount for the minority shareholding and the unpopular marketability. Click here for details.

  9. You terminated your employment and received Long Service Pay or Severance Pay under the Employment Ordinance? If yes, the pay is not taxable. Click here for details.

  10. You receive benefit-in-kind (e.g. free medical, free lunch, free transportation, free uniform ... etc.) from your employer and the benefit-in-kind is not convertible into cash? If yes, the benefit is not taxable. Click here for details.

  11. You use company car for both business and private purpose and all the motor expenses are borne by your employer? If yes, you pay no tax for the free traveling (because the expenses attributable to business purpose are not taxable since they are not your benefit; whereas the expenses attributable to private purpose are not taxable either because they are benefit inconvertible into cash). Click here for details.

  12. You use your own car for both business and private purpose and you receive reimbursement of car expenses from your employer? If yes, the reimbursement of car expenses for business purpose is not taxable because it is not a benefit. The reimbursement of expenses for private use is taxable and is usually computed by an apportionment. Click here for details.  

  13. You receive free accommodation being a flat? If yes, the accommodation is taxable at 10% of your relevant income. Click here for details.

  14. You receive free accommodation at a hotel room? If yes, the accommodation is taxed at 4% of your relevant income. Click here for details.

  15. Your employer has not paid you salaries? If yes, the unpaid salaries are not taxable. Click here for details.

  16. Suppose you returned part of your salaries to your employer because you failed to meet the sales target as stipulated in your employment contract. If yes, the returned salaries should be excluded from your assessable income. Click here for details.

  17. You wear uniform on duty and you pay laundry expenses. In that case, the laundry expenses are deductible. Click here for details.

  18. You pay membership fee to a professional association? If the membership is a prerequisite for your employment, the membership fee is deductible. Click here for details.

  19. Do you earn commission based on sales figures? If yes, you can claim expenses deduction. Click here for details.

  20. You work partly in Hong Kong and partly in China and you receive hardship allowance for your working in China? If yes, the allowance is not taxable. Click here for details.

  21. You work partly in Hong Kong and partly in China and your China income tax is paid by your employer? If yes, the income tax paid by employer is not taxable. Click here for details.

  22. You work partly in Hong Kong and partly in China and you pay China income tax. In that case, the income attributable to your services in China is not taxable.  Click here for details.

  23. You run a small business at your home? If yes, you can claim deduction for part of your household expenses under profits tax. Besides, if you have a business loss, you can apply for personal assessment to reduce your tax liability. Click here for details.

  24. You omit to claim married person allowance, child allowance or dependent parent allowance? If yes, you can make the claim even though this is after the one-month objection period. Click the underlined allowances for details.

  25. You omit to claim your contributions to elderly residential care expenses? If yes, you can make the claim within 6 years after the year of assessment. Click here for details.

  26. You omit to claim your contributions to MPF? If yes, you can make the claim within 6 years after the year of assessment. Click here for details.

  27. You omit to claim your home loan interest? If yes, you can make the claim within 6 years after the year of assessment. Click here for details.

  28. You omit to claim your self-education expenses? If yes, you can make the claim within 6 years after the year of assessment. Click here for details.

  29. You omit to claim your charitable donation? If yes, you can make the claim within 6 years after the year of assessment. Click here for details.

  30. Your salaries have decreased lately? If yes, you can apply for hold-over of provisional tax.

  31. Are you self-employed? If yes, you should be assessed under profits tax instead of salaries tax and then you will be subject to less stringent conditions of expenses deduction. Click here for details.

  32. You do not agree to the income assessed or the deduction or relief or allowances granted. In that case, you should read "What can you do if you disagree with an assessment". Click here for details.

  33. Have you read “Common topics of tax reduction”? Click here for details.

 

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