[Financial Budget 2023] Financial Secretary Chen Maobo announced the 2023/24 financial budget today (22nd), which includes a number of key policies, including the distribution of 5,000 yuan electronic consumer coupons; Food”; salary tax reduction of 6,000 yuan; tobacco tax increase by 30%; additional football betting tax of 2.4 billion yuan per year from the Jockey Club; use of 250 million yuan to hold large-scale events.
+3
Budget.
Overview｜Consumer coupons distributed in two installments of 5,000 yuan in tobacco tax plus 30% of sweetened sweets 01 The tax computer calculates how much you save
【Constantly updated】A number of key policies in the budget:
Budget.
Coupon｜Halved $5,000 will be issued in two installments, the fastest will be in April, and $3,000 will be given first
5,000 yuan electronic consumption coupon
A total of 5,000 New Year's Day e-vouchers will be distributed in two installments to each eligible permanent resident or new arrival aged 18 or above.
Originally registered qualified persons will receive 3,000 yuan in April, and the remaining 2,000 yuan will be distributed in the middle of the year; new registrants will be distributed in two installments in the middle of the year.
2,500 yuan will be granted to eligible persons living and studying in Hong Kong through different immigration schemes.
Budget 2023 tax reduction｜100% reduction of salaries tax and personal income tax ceiling of $6,000 Budget｜Relief of residential and non-residential property rates for the first two quarters up to 1,000 per quarter
The maximum tax rebate is 6,000 yuan
Reduce salary tax, up to 6,000 yuan; reduce rates, up to 1,000 yuan.
Additional half a month of CSSA, Old Age Allowance, Old Age Living Allowance, etc.
Transport allowance extended until October 2023.
Residential electricity subsidy of 1,000 yuan.
Budget｜News: Reduce residential ad valorem stamp duty for properties ranging from 2 million to 10.8 million
Hot tricks in the land, housing and property market
The stamp duty ladder is lowered, and the property market's hot tricks remain unchanged.
The 2023/24 land sale programme, railway projects, private development and redevelopment projects could potentially supply more than 20,000 units.
The 3 commercial sites are expected to provide about 200,000 square meters of commercial floor area; the 3 industrial sites are expected to provide about 170,000 square meters of industrial floor area.
Provide land for the construction of no less than 72,000 private housing units in the next five years.
Public Housing: Sufficient land has been found to build about 360,000 units
Private housing: It is estimated that within 5 years from this year, the average annual completion will exceed 19,000, and the potential supply of first-hand private residential units in the next 3 to 4 years will be about 105,000 units
Budget｜Tobacco tax will immediately increase by 30%; retail price of cigarettes is expected to increase to $70 per pack 100 guaranteed loans to help car owners change to pure electric taxis cost 6.4 billion
Tobacco tax plus 30%
Tobacco tax on each cigarette is raised by 6mm, an increase of 30%.
Set aside 200 million yuan to carry out trials of hydrogen fuel cell double-decker buses and heavy vehicles; set aside 350 million yuan to subsidize inner harbor ferry operators to build and test electric ferries and charging facilities; provide 100% guaranteed loans for the taxi industry to encourage Replace with pure electric taxis.
Allocate an additional $62 million to collect food waste for more public and private establishments.
Inject 500 million yuan into the Traditional Chinese Medicine Development Fund.
Budget｜Happy Hong Kong HAPPY HK will launch, hold sea and land carnival and food market
250 million yuan to organize large-scale events to launch "Happy Hong Kong" targeting citizens
Use 250 million yuan to continue to hold large-scale events, including the first pop culture festival.
Launched the "Happy Hong Kong Happy Hong Kong" event targeting citizens, held large-scale food markets in multiple districts throughout Hong Kong, and organized a large-scale sea and land carnival with Hong Kong as the stage in summer.
Budget｜SME Financing Guarantee Scheme will be extended until the end of March next year to increase support for the tourism industry
Supporting companies
Concession of profits tax, capped at $6,000; concession of non-residential rates, capped at $1,000 per quarter.
The SME Financing Guarantee Scheme, the application period is until March 2024.
30 million yuan to encourage technological upgrading and transformation of the travel agency industry.
Budget｜Discussion on the use of "Fast Speed" in Thailand to reduce airport fees to induce the opening of new routes. Budget｜Planning to issue 50 billion silver bonds and 15 billion green bonds in the next year to research MPF priority investment budget｜"Hong Kong version of Temasek" Commencement of operation is looking for quality partners Budget｜Hong Kong Stock Exchange will continue to operate under the bad weather on the 8th Bosnian rain or stop trading?
HKEx Reviews GEM Version of Silver and Green Bonds
It plans to issue 50 billion yuan of silver bonds and 15 billion yuan of green bonds.
Explore Hong Kong "FPS" and Thailand "PromptPay" payment in two places.
The Hong Kong Stock Exchange reviews the GEM version and implements the listing system for advanced technology companies in the first quarter of 2023.
Budget ｜ The new version of the Capital Investor Entrant Scheme does not include buying properties to live in Hong Kong
Digital Transformation Investor Entrant Scheme does not include property purchases
To develop the digital economy, set aside 500 million yuan to implement the digital transformation support pilot plan, and set aside 200 million yuan to upgrade the "Smart Convenience" platform.
Distribute 50 million yuan to accelerate the promotion of the web3 ecosystem.
To attract foreign companies to relocate to Hong Kong, the "Capital Investor Entrant Scheme" is launched, but property investment is not included.
Budget｜Continue to freeze civil servants and new measures to deal with the budget with internal deployment and streamlined procedures｜The deficit exceeds the budget by 1.5 times. It is expected that the next fiscal year will continue to see red for the fifth consecutive year
Innovation and Technology
aviation, shipping
Trade, Intellectual Property and Culture
Budget ｜ In the new school year, the Applied Diploma in Education will be introduced to replace Yi Jin's Vocational Education Pilot Scheme
human Resources
Youth development, caring and inclusiveness
Regularize various support programs for the elderly and caregivers.
Study to provide a suitable venue for the "Urban Movement", launch the "Vocational and Professional Education and Professional Education Secondary School Pilot Project", and regularly launch Diploma in Applied Education courses; set aside 100 million yuan to strengthen support for women's development.
To support preschool children with special needs, an additional recurrent expenditure of $170 million will be allocated to regularize "first-tier support services".
Increase the tax deduction for voluntary MPF contributions made by employers for employees aged 65 or above from 100% to 200%; exempt the deposit and fees for each separate water meter for eligible subdivided units.
What support does the new Budget offer to the grassroots?
The Hong Kong government will provide an additional payment equivalent to half a month's allowance to applicants for CSSA, Old Age Allowance, Old Age Living Allowance or Disability Allowance, and will also provide a $1,000 electricity fee subsidy. The temporary special measures of the "Public Transport Fare Subsidy Scheme" will also extend.
Pie Candy Lazy Bag One article read clearly
What are the updates on the 2023 Transport Subsidy Measures?
As mentioned in the Budget, the temporary special measures of the "Public Transport Fare Subsidy Scheme" will also be extended for six months until the end of October 2023, providing a one-third subsidy for citizens' actual public transport expenses exceeding $200 per month. $500 per month is the cap.
details
What tax cuts are in the new Budget?
Financial Secretary Chen Maobo announced that the salaries tax and personal income tax for the year of assessment 2022/23 will be reduced by 100%, with a ceiling of $6,000.
What other measures to distribute sugar to benefit the people in the new budget?
In addition to reducing the 100% salaries tax and personal income tax for the 2022/23 tax year, the Hong Kong government will distribute $5,000 electronic consumer coupons to eligible citizens and reduce the rates for the first two quarters of 2023/24. Residential properties With a cap of $1,000 per household per quarter, and the extension of the "Public Transport Fare Subsidy Scheme" until October this year, etc.
details
▼The color of the cover of Chen Maobo's budget over the years▼
+9
▼Financial Budget.
Citizens pay attention to redistribution of consumer coupons and how to promote tourism▼
+8
▼August 7, 2022 The market situation of the first round of issuance of consumer coupons in the second phase of 2022▼
+8
▼August 7, 2022 The market situation of the first round of issuance of consumer coupons in the second phase of 2022▼
+16
▼Financial Budget.
The government promotes the recruitment of talents ▼
+6
▼Financial Budget.
Continue to support the grassroots ▼
+6
▼Financial Budget.
On June 28, 2021, the opening ceremony of the Traditional Chinese Medicine Hospital▼
+8
▼Financial Budget.
Smokers are concerned about whether the tobacco tax will be increased▼
+3
▼Financial Budget.
Whether to increase the gaming tax or not becomes the focus ▼
▼Financial Budget.
License plate fee and electric vehicle subsidy▼
+2
▼Financial Budget.
The first Greater Bay Area youth exchange group of the Youth Affairs Bureau will start on February 7▼
+8
▼Surpluses and deficits of the Budgets over the years after reunification▼
Budget.
Overview｜Consumer coupons will be distributed in two installments of 5,000 yuan in tobacco tax plus 30% of sugar and sweetened budgets｜The tax deduction for hiring foreign domestic helpers is at least 55,000?
Cross-party support for the budget plan to relieve the pressure on the middle class｜Chen Jiaqiang: There is little opportunity to increase taxes, but to reduce "distribution of money" to balance expenditures｜The Chinese People's Political Consultative Conference petitioned for the establishment of grassroots living allowances and reintroduced the "N No Subsidy" budget ｜Can the government distribute more money?
Xu Zhengyu: The economy is improving and the easing policy must be tightened
When will the 2023-24 Budget be delivered?
The 2023-24 Budget will be presented by Financial Secretary Paul Chan Mo-po on the morning of February 22, 2023...For details, please see.
The 2023 Budget will distribute consumer vouchers again? What is the effect of the past two distributions of consumer vouchers?
CPA Australia pointed out that "double electronic consumption vouchers" can be distributed to eligible Hong Kong residents; ACCA Hong Kong branch also stated that it may consider distributing 10,000 yuan electronic consumption vouchers to each eligible person in Hong Kong.
The "consumer coupons" were distributed twice earlier, and a university in Hong Kong conducted research and released the results. It was found that the most visited shopping venues were... For details of the research, please see.
/cloudfront-eu-central-1.images.arcpublishing.com/prisa/KMEYMJKESBAZBE4MRBAM4TGHIQ.jpg)
