Relieve People's Burden
33. I will also introduce the following measures to ease the financial burden of the public:
| (a) | reducing salaries tax and tax under personal assessment for the year of assessment 2019/20 by 100 per cent, subject to a ceiling of $20,000. The reduction will be reflected in the final tax payable for the year of assessment 2019/20. This will benefit 1.95 million taxpayers and reduce government revenue by $18.8 billion; |
| (b) | waiving rates in respect of residential properties for four quarters of 2020-21, subject to a ceiling of $1,500 per quarter for each rateable property. This proposal is estimated to involve 2.93 million domestic properties and reduce government revenue by $13.3 billion; |
| (c) | providing an extra allowance to eligible social security recipients, equal to one month of the standard rate Comprehensive Social Security Assistance payments, Old Age Allowance, Old Age Living Allowance or Disability Allowance. Similar arrangements will apply to recipients of the Work Incentive Transport Subsidy. This will involve an expenditure of about $4.225 billion; |
| (d) | paying one month's rent for lower income tenants living in public rental units of the Hong Kong Housing Authority and the Hong Kong Housing Society, involving an expenditure of about $1.829 billion; and |
| (e) | paying the examination fees for school candidates sitting for the 2021 Hong Kong Diploma of Secondary Education Examination, involving an expenditure of about $150 million. |
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