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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Unformatted text preview: (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 (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 (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 (year 11/12) 14...
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This note was uploaded on 09/29/2011 for the course ACCT 3161 taught by Professor Kwong during the Spring '11 term at CUHK.

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

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