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powerpoint%20Chapter%2005%20-%20salaries%20tax%20%28husband%20%20wife%29%20%282%29

Powerpoint%20Chapter%2005%20-%20salaries%20tax%20%28husband%20%20wife%29%20%282%29

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(year 11/12) 14 th edition 1 Chapter 5 Salaries Tax: Husband & Wife Key points 1. Husband & wife 2. Husband & wife living apart 3. Separate taxation 4. Joint assessment
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(year 11/12) 14 th edition 2 Terms Husband – a married man whose marriage is recognized (para 1) Wife – a married woman (para 2) Marriage – marriage recognized in HK / outside HK (para 3) Living apart – para 4 Under a decree granted by court Under a deed of separation Other circumstances CIR thinks is living apart
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(year 11/12) 14 th edition 3 Separate Taxation Husband & Wife taxed separately Each one has his/her basic allowance (as if unmarried) Child allowance can only be claimed by one spouse (as higher allowance for 1 st and 2 nd child before 2002/03) Charitable donation can be transferable (provided no double claim) Either spouse can claim “Elderly residential care expense” Individual can nominate his/her spouse to claim home loan interest Refer to para 12 for computation
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(year 11/12) 14 th edition 4
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