Hong Kong Gazettes Inland Revenue (Amendment) (Tax Concessions, Concessionary Deductions and Allowances) Bill 2026

The Hong Kong Official Gazette March 6 published the Inland Revenue (Amendment) (Tax Concessions, Concessionary Deductions and Allowances) Bill 2026, for introduction in the Legislative Council on March 18. The bill includes measures to: 1) increase, to HK$145,000 (US$18,499) from HK$132,000 (US$16,840), the basic allowance and single parent allowance, and increase the married person’s allowance to HK$290,000 (US$36,998) from HK$264,000 (US$33,681), from year of assessment (YA) 2026-2027; 2) increase, to HK$110,000 (US$14,034) from HK$100,000 (US$12,758), the deduction ceiling for elderly residential care expenses for each eligible parent or grandparent, from YA 2026-2027; 3) extend, to two years from one year, ...