Any tax previously paid under Salaries Tax, Profits Tax and Property Tax
can be deducted from the Personal Assessment tax. If the total tax paid
exceeds the Personal Assessment tax, the excess will be repaid to the
Election for Personal
Assessment must be made within 2 years after the end of the year of
assessment or 2 months after issue of any assessment for that year,
whichever is the later. If there is an objection to the assessment, the
latter time limit will be extended to 1 month after the assessment
becoming final and conclusive.
no separate taxation
for husband and wife under Personal Assessment. In other words, husband
and wife are assessed jointly under Personal Assessment. The tax payable
is apportioned between the husband and the wife in the ratio of their
respective reduced total incomes, and each will get a tax bill.
Late election for PA may be accepted by the Revenue if the taxpayer has
reasonable excuse for the delay. So, if you are late to apply, write an
explanation for the delay and ask the Revenue to accept your late
There is no
provisional tax demanded under Personal Assessment and there is only one
due date for the tax payable.
for an illustration showing how
PA Tax is computed.
to check if
PA is to your advantage.
for allowances, deductions
and tax rates under PA.
The tax computation for Personal Assessment
and Salaries Tax are substantially the same. The steps for the tax
computation is: (1) Total income less
deductions less allowances > (2) Net chargeable income > (3) Graduated tax rates >
(4) Tax payable > (5) Check if standard rate applies. For details,