Profits Tax for Sole Proprietors

[dim89]

Hey guys,

A newbie both to HK and to self-employment / doing taxes myself. I've spent a lot of hours trying to get this information in the public domain, I wanted to see if any kind old-timers could point me in the right direction.

I'm currently self-employed as a sole proprietor, it's a one man band, I do a bit of consulting. I wanted to know if Housing allowance and VHIS only applies to salaried persons or if as a sole proprietor who doesn't take a salary from the business I would also qualify for these schemes?

Any input welcome.

Thanks!
Dim

[justjoe86]

Hey guys,

A newbie both to HK and to self-employment / doing taxes myself. I've spent a lot of hours trying to get this information in the public domain, I wanted to see if any kind old-timers could point me in the right direction.

I'm currently self-employed as a sole proprietor, it's a one man band, I do a bit of consulting. I wanted to know if Housing allowance and VHIS only applies to salaried persons or if as a sole proprietor who doesn't take a salary from the business I would also qualify for these schemes?

Any input welcome.

Thanks!
Dim

As a sole proprietor I assume it would be your profit that would count as income for this kind of scheme

[dim89]

As a sole proprietor I assume it would be your profit that would count as income for this kind of scheme

Thanks for your response!

I would like to assume this to. I wanted to check if this was just my wishful thinking or if the provision is intended to include sole proprietors to benefit from these schemes too.

[latex]

No and deductions for sole proprietor is more stringent

[latex]

No not really

[MandM!]

Create a limited company if you are earning a good amount.