{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Unit 5 - THE UNIVERSITY OF HONG KONG SCHOOL OF BUSINESS...

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
U5_Salaries_3 1 THE UNIVERSITY OF HONG KONG SCHOOL OF BUSINESS BUSI 0018 – Hong Kong Taxation Unit 5 – Salaries Tax (3) Coverage 1 Computation of NCI - S12B 2 Deductions from assessable income (AI) - Outgoings and expenses 3 Deductions from AI - Depreciation allowances for capital expenditure 4 Deductions from AI - Losses 5 Deductions from AI - Self-education expenses 6 Concessionary deductions under Part IVA - Approved charitable donations S26C - Elderly residential care expenses S26D - Home loan interest S26E - Contributions to recognised retirement schemes S26G 7 Allowances under Part V 8 Calculation of salaries tax - S13 Learning Objectives After completing this unit, you should be able to: - identify the deductions allowed against the assessable income - explain the rules governing the deduction of outgoings and expenses - explain the allowances for capital expenditure - describe how losses arise and how they can be relieved - explain the conditions for claiming approved charitable donations, elderly residential care expenses, home loan interest and contributions to retirement schemes - explain the conditions for claiming various personal allowances - compute net assessable income, net chargeable income and salaries tax liability of a taxpayer
Background image of page 1

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

View Full Document Right Arrow Icon