{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Unit 2 - THE UNIVERSITY OF HONG KONG SCHOOL OF BUSINESS...

Info icon This preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
U2_Property 1 THE UNIVERSITY OF HONG KONG SCHOOL OF BUSINESS BUSI 0018 – Hong Kong Taxation Unit 2 – Property Tax Coverage 1 Scope of charge 2 Assessable value 3 Computation of property tax 4 Premium 5 Irrecoverable rent 6 Exemption and relief 7 Provisional property tax 8 Hold-over of provisional property tax Learning Objectives After completing this unit, you should be able to: explain the scope of charge of property tax identify the chargeable person of property tax determine the assessable consideration for the right to use a property apply the spreading rule to lump sum premium describe the treatment of irrecoverable rent compute the net assessable value of a property describe exemption and relief for property tax compute the property tax and provisional property tax 1 SCOPE OF CHARGE 1.1 The Charging Section – S.5(1) On owner Of land and buildings Situated in Hong Kong At standard rate On the net assessable value 1.2 Meaning of “Owner” – S.2(1) A person holding land and/or building directly from the government A person who acquires ownership of the land and/or building from the person mentioned above by an assignment or conveyance A beneficial owner A mortgagor A mortgagee in possession
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon