Saturday, December 20, 2014   

(2014-15 Budget) HK$20b for relief measures
(02-26 12:22)

Financial Secretary John Tsang Chun-wah announced five relief measures in a bid to ease the Hongkongers' burden, involving about HK$20 billion.
Salaries tax and tax under personal assessment will be reduced by 75 percent for 2013-14, with a ceiling of HK$10,000. About 1.74 million taxpayers will benefit in the territory. This will cost the government about HK$9.2 million.
Profit tax will also be cut by 75 percent, with a ceiling of HK$10,000. This will cost about HK$1 billion.
Rates for the first two quarters of 2014-15 will be waived, with a ceiling of HK$1,500 per quarter. It will help about 3.1 million properties, costing the government HK$6.1 billion.
Public housing tenants will have their rents paid by the government for one month, involving a total of HK$1 billion.
An extra month of allowance of Comprehensive Social Security Assistance, Old Age Allowance, Old Age Living Allowance and Disability Allowance, involving an extra of HK$2.7 billion, will be given.
On top of the above one-off measures, the government is increasing the allowance for maintaining a dependent parent or grandparent aged 60 or above from HK$38,000 to HK$40,000.
For a dependent parent or grandparent aged between 55 and 59, the allowance is increased from HK$19,000 to HK$20,000.
The deduction ceiling for elderly residential care expense will be rasied to HK$80,000, from the current level of HK$76,000.
   
Other Hong Kong breaking news:
(SHKP trial) Thomas Kwok steps down as chairman (12-19 19:24)
(SHKP trial) Two middlemen detained after convicted (12-19 18:50)
(SHKP trial) Verdicts for high profile bribery case of Rafael Hui, Kwok borthers (12-19 18:35)
(SHKP trial) Rafael Hui: from top official to convicted (12-19 18:16)
(SHKP trial) Billionaire brothers at heart of trial (12-19 18:11)
(SHKP trial) ICAC remains unbiased in investigations (12-19 17:13)
(SHKP trial) Jurors exempted from jury duty in five years (12-19 17:00)
(SHKP trial) Raymond Kwok thankful his name cleared (12-19 16:42)
(SHKP trial) Alan Leong calls for improvement in vetting and disclaration system (12-19 16:35)
(SHKP trial) 'Black eye' for Hong Kong: analyst (12-19 16:32)

More breaking news >>

© 2014 The Standard, The Standard Newspapers Publishing Ltd.
Contact Us | About Us | Newsfeeds | Subscriptions | Print Ad. | Online Ad. | Street Pts

 


Home | Top News | Local | Business | China | ViewPoint | CityTalk | World | Sports | People | Central Station | Spree | Features

The Standard

Trademark and Copyright Notice: Copyright 2014, The Standard Newspaper Publishing Ltd., and its related entities. All rights reserved.  Use in whole or part of this site's content is prohibited.   Use of this Web site assumes acceptance of the
Terms of Use, Privacy Policy Statement and Copyright Policy.  Please also read our Ethics Statement.