The budget 2019-20: Relieve People's Burden & Support enterprises
2019-11-20
Relieve People's Burden
Reduce salaries tax and tax under personal assessment for Year of Assessment 2018-19 by 75％ subject to a ceiling of $20,000
Reduce profits tax for Year of Assessment 2018-19 by 75％, subject to a ceiling of $20,000
Waive rates for 4 quarters of 2019-20, subject to a ceiling of $1,500 per quarter for each rateable property
Provide an extra 1month allowance to recipients of CSSA, Old Age Allowance, Old Age Living Allowance or Disability Allowance; similar arrangements will apply to Working Family Allowance and Work Incentive Transport Subsidy
Provide a one-off additional $1,000 worth of Elderly Health Care Vouchers, and increase the accumulation limit of vouchers to $8,000
Provide a one-off grant of $2,500 to each student in need
Pay the examination fees for school candidates sitting for the 2020 Hong Kong DSE Examination
Support enterprises
Waive the business registration fees for 2019-20
Regularise the Technology Voucher Programme and double the funding ceiling for enterprises to $400,000
Inject $1 billion into the Dedicated Fund on Branding, Upgrading and Domestic Sales, extend its geographical scope and increase the funding ceiling for enterprises
Extend the application period of the special concessionary measures under the SME Financing Guarantee Scheme to end June 2020
Expand the networks of Free Trade Agreement, Investment Promotion and Protection Agreement, and Comprehensive Avoidance of Double Taxation Agreement
Expand the Economic and Trade Office network to strengthen external promotion and assist Hong Kong enterprises in exploring new business opportunities
