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Hong Kong Individual - Sample personal income tax calculation

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Below is a sample salaries tax computation for year of assessment 2018/19 for illustrative purposes.

Assumptions:

  • The individual is a married person with two children both below age 18.
  • The individual’s wife is not working and the two children are maintained by the individual.
  • The total assessable income of the individual consists of salaries of HKD 600,000 and year-end bonus of HKD 50,000.
  • The individual made contributions of HKD 18,000 to an MPF scheme during the year.
  • The individual made qualified charitable donations of HKD 3,000 during the year.
Salaries tax computation HKD HKD
Salaries 600,000  
Bonus 50,000  
Total assessable income   650,000
Less: Concessionary deductions    
Charitable donations (3,000)  
Retirement scheme contributions (18,000) (21,000)
Net income   629,000
Less: Allowances    
Married person’s allowance (264,000)  
Child allowances (HKD 120,000 x 2) (240,000) (504,000)
Net chargeable income   125,000
Tax at progressive rates:    
First HKD 50,000 @ 2% 1,000  
Next HKD 50,000 @ 6% 3,000  
Remainder HKD 25,000 @ 10% 2,500  
Tax payable (1)   6,500

Note

  1. The tax amount calculated based on the standard rate (i.e. HKD 629,000 @15% = HKD 94,350) is higher than that computed at progressive rates so the standard rate would not apply.

Last Reviewed - 27 June 2018

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