Personal Tax Guide

Did you know that raising elderly parents in Hong Kong can save you up to HK$100,000 in tax per parent? The dependent parent allowance is one of the most valuable tax reliefs in Hong Kong, but many taxpayers miss the opportunity because they are confused about the application eligibility and supporting document requirements. Whether you live with your parents and provide financial support, or assist parents who live separately, knowing how to properly claim this exemption can bring you significant tax savings. This whole...

Did you know? Hong Kong taxpayers can claim tax deductions of up to HK$100,000 per year for residential rental expenses. For many people who live in rental properties, this deduction is an important way to reduce their taxable income and save taxes. Whether you rent a boutique unit in Central or a family home in the New Territories, as long as you clearly understand the application rules, you can legally reduce your tax burden. This article will break down for you in detail how to effectively use this residential rent deduction.