HK Government Launches 9 New Relief Measures

  • December 05,2019
  • The Hong Kong Government has launched 9 new relief measures (to individuals and local businesses) that has a total worth of HK$ 4 billion.

    Tax payments of individuals

    1. In 2018/19, profits tax, salaries tax and personal income tax may be paid in installments, and surcharges are waived for a period not exceeding one year.

    Non-residential related

    2. Water and sewage charges of non-residential households are going to be reduced by 75% per month for a total of 4 months. Water fee may be reduced by up to HK$ 20,000. Sewage fee may be reduced by up to HK$ 12,500. This is expected benefit 250,000 households where the revenue of the Hong Kong government will be reduced by HK$ 340 million.

    3. 75% of eligible non-residential users are going to be subsidized with telephone call fee reduction. Total duration is for 4 months, with a monthly limit of HK$ 5,000 per household. The is going to benefit 430,000 households where the Hong Kong government will give up $HK 2.3 billion revenue.

    4. Non-residential properties are to be exempted from levy. The levy cap is to be raised to HK$ 5,000 in the last quarter. Government's revenue is expected to decrease by HK$ 600 million. This is going to benefit 260,000 households.

    Business related

    5. From 1st December 2019 to the end of May 2020, the rent of Kai Tak Cruise Terminal will be reduced or exempted.

    6. The Recycling Fund provides a single rental subsidy for recycling companies. 500 street corner recycling shops and 400 open-air recycling sites are included. Government's revenue is expected to decrease by HK$ 100 million.

    7. The CSRC is to waive the annual license fee, benefiting more than 47,000 licensed individuals or institutions. Government's revenue is expected to decrease by HK$ 117 million.

    8. The Employees Retraining Board has been optimized and extended the "Special Value Added" plan. The maximum monthly allowance for each trainee has been increased from HK$ 4,000 to 5,800. Goverment's expenditure will be HK$ 350 million.

    9. The Youth Development Plan has been optimized to assist young people to enter the job market, Goverment's expenditure will be HK$ 14.3 million per year. This is going to benefit 600 young people.

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