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  • 1 Post By Gruntfuttock

Income Tax Deductions

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  1. #1

    Join Date
    Jul 2013
    Location
    HK
    Posts
    18

    Income Tax Deductions

    Hi there

    I'm playing around with the income tax calculator (http://www.ird.gov.hk/eng/ese/st_com..._14/stcfrm.htm)

    and looking at the "Deductions" section I was wondering which one can I use ?

    I read on Internet forums that some people manage to deduct their rent is that correct ?
    Also I read/heard that by giving to some associaltion or doing something you can claim that you support elderly people and therefore pay less tax, is that a urban legend or actually a great way to save on income tax ?


    Cheers


  2. #2

    Join Date
    Jul 2013
    Location
    HK
    Posts
    18

    anyone with tax deduction advices here ?


  3. #3

    Join Date
    Mar 2012
    Posts
    4,821

    On rent see many, many previous threads here on Housing Allowances.

    On charities, if you give $100 to charity then in effect it can cost you only $85.

    If you have your own dependent relatives in Hong Kong (or anywhere in the world in the case of children) then you can claim an allowance for them.

    If you have a mortgage on your home in HK then you can claim the interest.

    Those are the main ones.

    ibanana likes this.