Hong Kong Income Tax Rate for Assessment Year 2017-2018. Personal Tax Rates, Resident, Non Resident and Corporate / Companies.

Hong Kong Income Tax Rate for Assessment Year 2017-2018 onwards

Taxable Income	Tax Rate	Income Tax Amount $
$0 to 45,000	2%	900
$45,000 to 90,000	7%	900+3150
$90,000 to 1,35,000	12%	4050+5400
Over $1,35,000	17%	9,450+ 17% of amount exceeding $1,35,000

Annual Income level at which standard rate is applicable for 2017-2018

Type of Assessee	Amount $
Single	1,797,000
Married	2,919,000
Married with 1 Child	3,769,000
Married with 2 Children	4,619,000
Married with 3 Children	5,469,000

Including two dependent parents aged 60 or above, annual Income level at which standard rate is applicable for 2017-2018

Type of Assessee	Amount $
Single	2,579,000
Married	3,701,000
Married with 1 Child	4,551,000
Married with 2 Children	5,401,000
Married with 3 Children	6,251,000

Including two dependent parents or grand parents both aged 60 or above living with you, annual Income level at which standard rate is applicable for 2017-2018

Type of Assessee	Amount $
Single	3,361,000
Married	4,483,000
Married with 1 Child	5,333,000
Married with 2 Children	6,183,000
Married with 3 Children	7,033,000

Including one dependent parent or grand parent aged 60 or above living with you and one dependent disabled brother or sister, annual Income level at which standard rate is applicable for 2017-2018

Type of Assessee	Amount $
Single	3,535,250
Married	4,657,250
Married with 1 Child	5,507,250
Married with 2 Children	6,357,250
Married with 3 Children	7,207,250

Being a Single Parent with

Type of Assessee	Amount $
1 Child	3,769,000
2 Children	4,619,000
3 Children	5,469,000

Effect of various deductions are included in the table.

Capital Gain Tax in Hong Kong

Profits from sale of capital assets (as opposed to trading assets) are specifically exempt from profits tax. However, there are no definitive legal rules that draw the distinction between capital and trading assets

Corporate Income Tax Rate in Hong Kong for Financial Year 2017-2018

- 16.5% for Corporations

- 15% for Un incorporated business

Profits tax deductions

Expenses incurred in the production of chargeable profits in any period are deductible from profits tax.

Capital expenditure incurred in the purchase of the following items are fully tax deductible :

- rights to patent

- industrial know-how

- registered trademarks

- copyrights and registered designs from unrelated parties

- for use in Hong Kong

Deduction against charitable donations

- 35% of assessable profits for charitable donations