On the 26th of February 2025, Paul Chan Mo-po, the Financial Secretary of the Hong Kong Special Administrative Region (HKSAR), presented the Budget Speech for 2025-26. Some key support measures are as follows:

· Rate concession for residential and non-residential properties in the initial quarter of 2025/26, with a maximum limit of $500

· Decrease salaries tax and tax under personal assessment for the 2024/25 assessment year by 100%, with a maximum limit of $1,500

· Decrease profits tax for the 2024/25 assessment year by 100%, with a maximum limit of $1,500

· Offer an additional half-month allowance on standard CSSA payments, Old Age Allowance, Old Age Living Allowance, or Disability Allowance. Similar provisions apply to the Working Family Allowance

· Domestic and non-domestic property transactions: with immediate effect, raise the maximum value of properties subject to a stamp duty of $100 to $4 million

Should you have any questions regarding the above, please do not hesitate to reach out at inquiries@rillawitt.com.

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