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  • 4 Post By ndt

Rental Reimbursement and 2022 Budget

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  1. #1

    Join Date
    Nov 2008
    Posts
    4,619

    Rental Reimbursement and 2022 Budget

    Hi All,

    apologies if this has been covered already, but was wondering if anyone had insight here...

    In this years' budget:

    Tax Deduction for domestic rental expenses
    Ease the burden of renting a private property on taxpayers liable to salaries tax and tax under personal assessment who are not owners of domestic properties
    Subject to a deduction ceiling of $100,000 for a year of assessment from the year of assessment 2022/23
    Any idea how this might (or might not) apply to employees currently utilizing the rental reimbursement system?

    Back of the envelope suggests quite a difference between savings under each system... So, if you stand to save more using the 2022 budget measure, can you? Or, does subscribing to the rental reimbursement scheme preclude you?

  2. #2

    Join Date
    May 2021
    Posts
    700

    It is still at a proposal stage, details are not worked out or at least not in public domain so nobody has any clue, the proposal is to be tabled in LegCo in second half of current year..