Hong Kong Budget 2026-27: Key Tax Highlights
Financial Secretary Paul Chan announced the 2026-27 Budget. Key highlights: 100% tax relief up to $3,000 for 2025/26, increased tax allowances. Essential reading for SMEs filing taxes!
常見問題
Q: Is there cash handout in 2026-27?
A: No direct cash handout this year, but there is 100% salaries tax/personal income tax relief (capped at $3,000), 100% profits tax relief (capped at $3,000), and rates concession.
Q: How much did tax allowances increase?
A: Basic allowance increased from $132,000 to $145,000, married person allowance from $264,000 to $290,000, child allowance from $130,000 to $140,000.
Q: Is there profits tax reduction?
A: Yes! 100% profits tax relief for 2025/26 assessment year, capped at $3,000, to be reflected in the final tax payable.
Q: Is the EV one-for-one scheme continuing?
A: The private EV "one-for-one" tax concession will end in March 2026 and will not be extended. Commercial EVs continue to enjoy first registration tax exemption until March 2028.
Q: Did luxury property stamp duty increase?
A: Yes. Stamp duty for residential properties over $100 million increased from 4.25% to 6.5%, effective retroactively from 26 February 2026.
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