Hong Kong Budget 2022-2023 | DBMS Global Limited

Electronic Consumption Vouchers

Issue $10,000 electronic consumption vouchers to each eligible Hong Kong permanent resident and new arrival aged 18 or above
Previously registered persons: $5,000 consumption vouchers will be issued in April, remaining $5,000 vouchers will be issued in mid-year by instalment
Newly eligible persons: after successful registration, $10,000 vouchers will be issued in mid-year by instalment

Ease the burden of renting a private property on taxpayers liable to salaries tax and tax under personal assessment who are not owners of domestic properties
Subject to a deduction ceiling of $100,000 for a year of assessment from the year of assessment 2022/23

Extend the application period to end April 2023
Increase the maximum loan amount to nine times of the applicant’s average monthly income during employment, and raise the ceiling to $100,000
Extend the maximum repayment period to 10 years, and the maximum duration of principal moratorium to 18 months

Personal Tax and Deduction

Reduce salaries tax and tax under personal assessment for the year of assessment 2021/22 by 100%, subject to a ceiling of $10,000
Provide rates concession for domestic properties for 2022/23, subject to a ceiling of $1,500 per quarter in the first two quarters and a ceiling of $1,000 per quarter in the remaining two quarters
Grant each eligible residential electricity account a subsidy of $1,000

Extend the application period to end June 2023
Increase the maximum loan amount to 27 months of employee wages and rents, with the loan ceiling raised to $9 million
Extend the maximum repayment period to 10 years
Offer the option of making partial repayment of principal over a longer period of time

Profit Tax and Deduction

Extend the Pre-approved Principal Payment Holiday Scheme to end October, offering enterprises the option of making partial repayment of principal over a longer period of time
Reduce profits tax for the year of assessment 2021/22 by 100%, subject to a ceiling of $10,000
Provide rates concession for non-domestic properties for 2022/23, subject to a ceiling of $5,000 per quarter in the first two quarters and a ceiling of $2,000 per quarter in the remaining two quarters
Waive the business registration fees for 2022/23
Continue to waive 75% of water and sewage charges payable by non-domestic households for eight months, subject to a monthly ceiling of $20,000 and $12,500 respectively

Mortgage Loan Cap

The cap on the value of a property eligible for a mortgage loan of a maximum cover of 80 per cent loan‑to‑value (LTV) ratio will be raised from $10 million to $12 million.

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