_Tax-Q&A

_Tax-Q&A - HKTI-pilotpaper-Q&A-1007_jy...

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Unformatted text preview: HKTI-pilotpaper-Q&A-1007_jy /7/27/2010 1 THE TAXATION INSTITUTE OF HONG KONG CTA QUALIFYING EXAMINATION PILOT PAPER PAPER 1 HONG KONG TAX NOTE This Pilot Paper intends to let candidates have an idea of the depth and breadth of the topics to be examined. The length of computational questions in the public examination should likely be confined to 2 printed pages for a 16-mark question and 4 printed pages for a 36-mark question. The answers provided are very detailed and are meant to help candidates have a better understanding of the answers. Candidates are not expected to produce such detailed answers in a three-hour examination. HKTI-pilotpaper-Q&A-1007_jy /7/27/2010 2 TAX RATES AND ALLOWANCES Personal Allowances for 2008/09 (Salaries Tax and Personal Assessment) HK$ Basic allowance $108,000 Married persons allowance $216,000 Child allowance: First ninth child $50,000 EACH Child allowance additional (for child born during the year) $50,000 EACH Dependent parent/grandparent allowance (aged 60 or above OR is eligible to claim an allowance under the Governments Disability Allowance Scheme) $30,000 EACH Dependent parent/grandparent allowance (aged 55 or above but below 60) $15,000 EACH Additional dependent parent/grandparent allowance (aged 60 or above OR is eligible to claim an allowance under the Governments Disability Allowance Scheme) $30,000 EACH Additional dependent parent/grandparent allowance (aged 55 or above but below 60) $15,000 EACH Single parent allowance $108,000 Disabled dependant allowance $60,000 EACH Dependent brother or dependent sister allowance $30,000 EACH Personal Allowances for 2007/08 (Salaries Tax and Personal Assessment) HK$ Basic allowance $100,000 Married persons allowance $200,000 Child allowance: First ninth child $50,000 EACH Child allowance additional (for child born during the year) $50,000 EACH Dependent parent/grandparent allowance (aged 60 or above OR is eligible to claim an allowance under the Governments Disability Allowance Scheme) $30,000 EACH Dependent parent/grandparent allowance (aged 55 or above but below 60) $15,000 EACH Additional dependent parent/grandparent allowance (aged 60 or above OR is eligible to claim an allowance under the Governments Disability Allowance Scheme) $30,000 EACH Additional dependent parent/grandparent allowance (aged 55 or above but below 60) $15,000 EACH Single parent allowance $100,000 Disabled dependant allowance $60,000 EACH Dependent brother or dependent sister allowance $30,000 EACH HKTI-pilotpaper-Q&A-1007_jy /7/27/2010 3 Personal Allowances for 2006/07 and 2005/06 (Salaries Tax and Personal Assessment) HK$ Basic allowance $100,000 Married persons allowance $200,000 Child allowance: First ninth child $40,000 EACH Dependent parent/grandparent allowance (aged 60 or above OR is eligible to claim an allowance under the Governments Disability Allowance Scheme) $30,000 EACH Dependent parent/grandparent allowance (aged 55 or above but below 60)...
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This note was uploaded on 10/29/2011 for the course ECON 101 taught by Professor Dowlah during the Spring '08 term at Cuny QCC.

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_Tax-Q&A - HKTI-pilotpaper-Q&A-1007_jy...

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