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Hong Kong Salaries Tax Allowances and Deductions 2026: Complete IRD Table and Worked Calculation Examples

Hong Kong Salaries Tax is calculated by the Inland Revenue Department (IRD) using two parallel formulas: Progressive Rates (2% to 17%) applied to Net Chargeable Income (after subtracting both allowable Deductions and personal Allowances), and Two-Tiered Standard Rates (15% on the first HK$5,000,000 of Net Income; 16% on the remainder) applied to Net Income before allowances [S3]. Taxpayers automatically pay whichever formula produces the lower tax payable [S3]. Under the current IRD schedule for 2025/26 and 2026/27, the headline statutory allowances are the HK$132,000 Basic Allowance, the HK$264,000 Married Person’s Allowance (which replaces, rather than adds to, the Basic Allowance), and the HK$130,000 Child Allowance per child (plus an additional one-off HK$130,000 in the year of birth) [S1].

Under the Inland Revenue Ordinance (Cap. 112), tax reductions fall into two distinct categories that operate differently in your assessment: Allowances (免税额) are fixed statutory amounts granted according to your marital and family status regardless of actual spending, and they reduce taxable income only under the progressive rate calculation [S1][S3]. Deductions (扣除项目) are actual qualifying expenses paid during the Hong Kong year of assessment (1 April to 31 March) — such as mandatory MPF contributions, domestic rent, home loan interest, voluntary health insurance (VHIS) premiums, or qualifying deferred annuity and MPF voluntary contributions (QDAP/TVC) — up to statutory annual caps, and they reduce taxable income under both the progressive rate and standard rate calculations [S2][S3].

Published by HK Guide Editorial Team · AI-assisted compilation · Official sources verified on 2026-11-05 · See Corrections.

Key Facts: Personal Allowances Schedule (2025/26 & 2026/27)

Personal allowances reduce your Net Income to arrive at Net Chargeable Income when calculating Salaries Tax at progressive rates (and under Personal Assessment) [S1][S3]. Unused personal allowances expire at the end of the year of assessment on 31 March and cannot be carried forward to future tax years [S1].

Allowance Item Statutory Amount (HK$) Key IRD Eligibility Conditions & Rules
Basic Allowance HK$132,000 Granted automatically to every individual taxpayer who is not claiming the Married Person’s Allowance [S1].
Married Person’s Allowance HK$264,000 Mutually exclusive with the Basic Allowance (cannot be combined with HK$132,000). Available if you were married during the year and your spouse did not have any assessable income, or if you and your spouse have elected for Joint Assessment or Personal Assessment [S1].
Child Allowance (1st to 9th child) HK$130,000 per child Available for each unmarried dependant child maintained by the taxpayer who is under age 18, or aged 18 to under 25 and receiving full-time education at a university, college, school, or similar educational establishment (or aged 18 or above and incapacitated for work by reason of physical or mental disability) [S1].
Additional Child Allowance (Year of Birth) +HK$130,000 per child One-off additional allowance granted in the year of assessment in which the eligible child is born (bringing the total Child Allowance in the year of birth to HK$260,000 for that newborn) [S1].
Dependent Brother or Dependent Sister Allowance HK$37,500 per dependant For each unmarried brother or sister of the taxpayer or spouse maintained by the taxpayer, meeting the same age, full-time education, or disability criteria as Child Allowance [S1].
Dependent Parent and Dependent Grandparent Allowance (Aged 60 or above, or disabled) HK$50,000 per dependant Dependant must ordinarily reside in Hong Kong, be aged 60 or above (or under 60 and eligible for the Government’s Disability Allowance Scheme), and either reside with the taxpayer for at least 6 months without paying full cost or receive at least HK$12,000 in maintenance from the taxpayer/spouse during the year [S1].
Additional Dependent Parent / Grandparent Allowance (Aged 60+ or disabled, continuous co-residence) +HK$50,000 per dependant Granted in addition to the HK$50,000 basic allowance (total HK$100,000 per dependant) if the eligible parent or grandparent resided with the taxpayer continuously throughout the full year of assessment without paying full cost [S1].
Dependent Parent and Dependent Grandparent Allowance (Aged 55 to 59) HK$25,000 per dependant Same ordinary residence and maintenance criteria as above, where the parent or grandparent is aged 55 or above but below 60 in the year of assessment [S1].
Additional Dependent Parent / Grandparent Allowance (Aged 55 to 59, continuous co-residence) +HK$25,000 per dependant Granted in addition to the HK$25,000 basic allowance (total HK$50,000 per dependant) if the eligible parent or grandparent aged 55–59 resided with the taxpayer continuously throughout the year of assessment [S1].
Single Parent Allowance HK$132,000 For a taxpayer who was unmarried (or separated/divorced/widowed) throughout the year and had the sole or predominant care of a child for whom the taxpayer was entitled to Child Allowance [S1].
Personal Disability Allowance HK$75,000 For a taxpayer who is eligible to claim an allowance under the Hong Kong Government’s Disability Allowance Scheme during the year of assessment [S1].
Disabled Dependant Allowance HK$75,000 per dependant Granted in addition to the relevant married, child, brother/sister, or parent/grandparent allowance for each dependant who is eligible for an allowance under the Government’s Disability Allowance Scheme [S1].

Note on IRD schedule revisions: On the official GovHK allowance table (7years.htm), the statutory schedule verified on 2026-11-05 lists the 2023/24 to 2025/26 baseline figures shown above alongside the enacted 2026/27 schedule adjustments (Basic and Single Parent Allowance at HK$145,000, Married Person’s Allowance at HK$290,000, Child Allowance and birth-year addition at HK$140,000 each, Dependent Parent/Grandparent 60+ basic and additional at HK$55,000 each, and aged 55–59 basic and additional at HK$27,500 each, while Dependent Brother/Sister at HK$37,500 and Disability allowances at HK$75,000 remain unchanged) [S1].

Key Facts: Statutory Tax Deductions & Annual Caps

Unlike personal allowances, statutory deductions require that you (or your spouse, where permitted) actually paid the qualifying expense during the assessment year (1 April to 31 March) [S2]. Deductions reduce your Assessable Income to arrive at Net Income, benefiting taxpayers assessed at either the progressive rates or the two-tiered standard rates [S2][S3].

Deduction Category Maximum Annual Cap (HK$) Qualifying Rules & Key Statutory Restrictions
Mandatory Contributions to Recognised Retirement Schemes (MPF / ORSO) Up to HK$18,000 / year Employee’s mandatory 5% MPF contributions (capped at HK$1,500/month) or deductible contributions to a Recognised Occupational Retirement Scheme [S2].
Domestic Rents Deduction Up to HK$100,000 / year (base ceiling)
Up to HK$120,000 / year (with eligible child)		 For domestic premises in Hong Kong rented as your principal place of residence under a stamped tenancy agreement, provided neither you nor your spouse owns any domestic property in Hong Kong. From 2024/25 onwards, the ceiling rises to HK$120,000/year for taxpayers residing with an eligible child born on or after 25 October 2023 [S2].
Home Loan Interest (HLI) Up to HK$100,000 / year (base ceiling, 20 years)
Up to HK$120,000 / year (with eligible child)		 Mortgage interest paid on a dwelling in Hong Kong owned and occupied as your place of residence (plus a car parking space in the same development), claimable for up to 20 years of assessment (not necessarily consecutive). From 2024/25 onwards, the ceiling rises to HK$120,000/year if residing with an eligible child born on or after 25 October 2023 [S2].
Expenses of Self-Education Up to HK$100,000 / year Tuition and related examination fees paid for a prescribed course of education at an approved institution to gain or maintain qualifications for current or planned employment (net of any employer or government reimbursement such as CEF) [S2].
Elderly Residential Care Expenses Up to HK$100,000 / year per parent or grandparent Residential care fees paid to a licensed (or exempted) residential care home in Hong Kong for a parent or grandparent aged 60 or above (or eligible for Disability Allowance). Cannot be claimed alongside the Dependent Parent/Grandparent Allowance for the same dependant in the same year [S2].
Voluntary Health Insurance Scheme (VHIS) Qualifying Premiums Up to HK$8,000 / year per insured person Qualifying premiums paid under a Certified Plan of VHIS for yourself or any number of specified relatives (spouse, children, siblings, parents, or grandparents who hold a valid HKID) [S2].
Qualifying Deferred Annuity Premiums (QDAP) & MPF Tax Deductible Voluntary Contributions (TVC) Combined cap of HK$60,000 / year (non-carry-forward) Aggregate annual limit across Insurance Authority-certified QDAP premiums and designated MPF TVC contributions. Where both are claimed, TVC is deducted before QDAP. Unused cap cannot be carried forward to future assessment years [S2].
Approved Charitable Donations Up to 35% of assessable income (minimum HK$100) Aggregate cash donations of at least HK$100 made to tax-exempt charities recognised under Section 88 of the Inland Revenue Ordinance or to the Government for charitable purposes, capped at 35% of assessable income after allowable outgoings, expenses, and depreciation allowances [S2].

Progressive Tax Bands vs Two-Tiered Standard Rate

When computing Hong Kong Salaries Tax, the IRD runs two parallel calculations and charges the lower result [S3]:

  1. Progressive Rate Formula: \(\text{Net Chargeable Income} = \text{Assessable Income} - \text{Allowable Deductions} - \text{Personal Allowances}\)
  2. Two-Tiered Standard Rate Formula (applicable from 2024/25 onwards): \(\text{Net Income} = \text{Assessable Income} - \text{Allowable Deductions} \quad (\text{before any Personal Allowances})\)
Progressive Tax Calculation (on Net Chargeable Income after Deductions & Allowances) Marginal Rate Tax per Band (HK$) Cumulative Tax (HK$) Two-Tiered Standard Rate Calculation (on Net Income after Deductions, before Allowances) Standard Rate
First HK$50,000 2% HK$1,000 HK$1,000 First HK$5,000,000 of Net Income 15%
Next HK$50,000 (HK$50,001 – HK$100,000) 6% HK$3,000 HK$4,000 Remainder of Net Income above HK$5,000,000 16%
Next HK$50,000 (HK$100,001 – HK$150,000) 10% HK$5,000 HK$9,000 — —
Next HK$50,000 (HK$150,001 – HK$200,000) 14% HK$7,000 HK$16,000 — —
Remainder above HK$200,000 17% 17% of excess HK$16,000 + 17% of excess — —

Three Essential Calculation Rules to Avoid Common Errors

  1. Allowances Do Not Reduce Standard Rate Tax: Because the Two-Tiered Standard Rate (15% up to HK$5,000,000 of Net Income; 16% above HK$5,000,000) is calculated on Net Income before allowances, personal allowances only lower your tax bill under the progressive rate formula [S3]. Once your income crosses into the Standard Rate zone (for instance, HK$2,022,000 in 2025/26 or HK$2,132,500 in 2026/27 for a single taxpayer with no deductions [S3]), only statutory deductions (such as MPF, TVC/QDAP, Domestic Rents, Home Loan Interest, or Charitable Donations) reduce your tax payable.
  2. Basic Allowance (HK$132,000) and Married Person’s Allowance (HK$264,000) Are Mutually Exclusive: Under the Inland Revenue Ordinance, you can never stack the Basic Allowance (HK$132,000) on top of the Married Person’s Allowance (HK$264,000) to claim HK$396,000 [S1]. The HK$264,000 Married Person’s Allowance is exactly double the HK$132,000 Basic Allowance and replaces it in full [S1].
  3. Separate Assessment vs Joint Assessment for Married Couples: If your spouse has zero assessable income in Hong Kong, you automatically qualify for the HK$264,000 Married Person’s Allowance under Salaries Tax [S1]. If both spouses earn assessable income in Hong Kong, each spouse is assessed separately by default (each receiving a HK$132,000 Basic Allowance and scaling through the 2%–14% progressive bands independently). Electing Joint Assessment (合并评税) combines both incomes into a single assessment with one HK$264,000 Married Person’s Allowance — which is only beneficial when one spouse’s income is lower than their unutilised allowances (so the unused allowance offsets the higher-earning spouse’s income).

Worked Calculation Examples (Including HK$30,000/Month Salary)

The worked examples below use the verified baseline statutory schedule (HK$132,000 Basic Allowance, HK$264,000 Married Person’s Allowance, HK$130,000 Child Allowance, and HK$18,000 mandatory MPF cap) [S1][S2][S3]. Any one-off annual Budget tax reduction (such as the HK$3,000 ceiling for 2025/26 [S3]) is excluded from the core table so the baseline statutory arithmetic is completely transparent and reproducible.

Example 1: Single Employee Earning HK$30,000/Month (HK$360,000/Year)

Assumptions: Single Hong Kong employee earning a gross salary of HK$30,000 per month (HK$360,000 for the 12-month assessment year), contributing the mandatory 5% to MPF (HK$1,500/month = HK$18,000/year) [S2]. We compare Case 1A (claiming no housing deduction) against Case 1B (claiming the full HK$100,000 Domestic Rents Deduction under a stamped tenancy) [S2].

Calculation Step Case 1A: No Domestic Rent Deduction (HK$) Case 1B: With HK$100,000 Domestic Rents Deduction (HK$) Statutory Basis
1. Gross Assessable Income (HK$30,000 × 12) 360,000 360,000 Employment income
2. Less: Mandatory MPF Deduction (HK$1,500 × 12) -18,000 -18,000 Capped at HK$18,000/year [S2]
3. Less: Domestic Rents Deduction 0 -100,000 Capped at HK$100,000/year (base) [S2]
= Net Income (Standard Rate Base) 342,000 242,000 Assessable Income − Deductions [S3]
4. Less: Basic Allowance -132,000 -132,000 Single taxpayer allowance [S1]
= Net Chargeable Income (Progressive Base) 210,000 110,000 Net Income − Allowances [S3]
5. Progressive Tax Breakdown:      
• First HK$50,000 @ 2% 1,000 1,000 Band 1 [S3]
• Next HK$50,000 (HK$50,001–100,000) @ 6% 3,000 3,000 Band 2 (cumulative HK$4,000) [S3]
• Next HK$50,000 (HK$100,001–150,000) @ 10% 5,000 1,000 (on HK$10,000) Band 3 [S3]
• Next HK$50,000 (HK$150,001–200,000) @ 14% 7,000 0 Band 4 (cumulative HK$16,000) [S3]
• Remainder above HK$200,000 @ 17% 1,700 (on HK$10,000) 0 Top marginal band [S3]
Total Progressive Tax HK$17,700 HK$5,000 Sum of progressive bands [S3]
Standard Rate Check (15% × Net Income) HK$51,300 HK$36,300 15% on first HK$5,000,000 [S3]
Baseline Salaries Tax Payable (Lower of Two) HK$17,700 HK$5,000 Progressive rate is lower [S3]
Effective Tax Rate (Tax Payable ÷ HK$360,000) 4.92% 1.39% Claiming rent saves HK$12,700/year

Example 2: Married Taxpayer with 1 Child (HK$720,000/Year = HK$60,000/Month, Single-Income Household)

Assumptions: Married employee earning HK$60,000 per month (HK$720,000/year), spouse has no assessable income in Hong Kong, and the couple has 1 eligible child (not in the year of birth) [S1]. The taxpayer pays the maximum mandatory MPF contribution of HK$18,000/year and claims no other deductions [S2].

Calculation Step Amount (HK$) Statutory Basis & Verification Notes
1. Gross Assessable Income (HK$60,000 × 12) 720,000 Annual employment income
2. Less: Mandatory MPF Deduction -18,000 Statutory cap of HK$18,000/year (HK$1,500/month) [S2]
= Net Income (Standard Rate Base) 702,000 Assessable Income minus Deductions [S3]
3. Less: Personal Allowances:    
• Married Person’s Allowance -264,000 Replaces Basic Allowance — never stacked with HK$132,000 [S1]
• Child Allowance (1 child, non-birth year) -130,000 HK$130,000 per child (for 1st to 9th child) [S1]
• Total Personal Allowances -394,000 HK$264,000 + HK$130,000 = HK$394,000 [S1]
= Net Chargeable Income (Progressive Base) 308,000 HK$702,000 − HK$394,000 = HK$308,000 [S3]
4. Progressive Tax Breakdown:    
• First HK$200,000 across Bands 1–4 (2%, 6%, 10%, 14%) 16,000 HK$1,000 + HK$3,000 + HK$5,000 + HK$7,000 [S3]
• Remainder above HK$200,000 (HK$108,000 × 17%) 18,360 Top progressive band at 17% [S3]
Total Progressive Tax HK$34,360 HK$16,000 + HK$18,360 = HK$34,360 [S3]
5. Standard Rate Check (15% × HK$702,000 Net Income) HK$105,300 Calculated on Net Income before allowances [S3]
Baseline Salaries Tax Payable (Lower of Two) HK$34,360 Progressive tax (HK$34,360) is lower than Standard Rate (HK$105,300) [S3]
Effective Tax Rate (HK$34,360 ÷ HK$720,000) 4.77% Before any one-off annual Budget tax reduction

Step-by-Step: How to Claim Allowances and Deductions on Tax Return BIR60

  1. Track Payments Within the Hong Kong Assessment Year (1 April to 31 March): Ensure all deductible expenses — including MPF voluntary contributions (TVC), qualifying annuity premiums (QDAP), VHIS premiums, self-education tuition fees, charitable donations, and domestic rent or mortgage interest — are actually paid on or before 31 March to count toward that year of assessment [S2].
  2. Receive or Access Tax Return – Individuals (Form BIR60) in May: The Inland Revenue Department (IRD) normally issues Form BIR60 at the beginning of May each year for the preceding assessment year ended 31 March. Paper returns are typically due within 1 month of issue, whereas taxpayers filing online through eTAX (GovHK Individual Tax Portal) automatically receive an extended filing deadline.
  3. Report Gross Assessable Income and Itemised Deductions in Part 4 (Salaries Tax): Declare your total employment income (matching your employer’s Form IR56B), then enter your actual paid amounts for outgoings and expenses, self-education expenses (up to HK$100,000), approved charitable donations (minimum HK$100, up to 35% of income after expenses), and mandatory MPF contributions (up to HK$18,000) [S2].
  4. Claim Concessionary Deductions in the Dedicated BIR60 Sections: Enter your qualifying claims for Elderly Residential Care Expenses (up to HK$100,000 per parent/grandparent), Home Loan Interest or Domestic Rents Deduction (up to HK$100,000 base cap, or HK$120,000 if residing with an eligible child born on or after 25 October 2023), VHIS Qualifying Premiums (up to HK$8,000 per insured person), and QDAP / MPF TVC (up to HK$60,000 combined) [S2].
  5. Declare Personal and Dependant Allowances: Complete the allowances section on Form BIR60 for your spouse (if claiming the HK$264,000 Married Person’s Allowance or electing Joint Assessment), unmarried children (HK$130,000 per child, ticking the newborn box if born during the assessment year for the additional HK$130,000), dependent siblings (HK$37,500), dependent parents or grandparents (HK$50,000 or HK$25,000, plus the co-residence box if they lived with you continuously throughout the year without paying full cost), Single Parent Allowance (HK$132,000), and Disability Allowances (HK$75,000) [S1].
  6. Retain All Receipts and Supporting Documents for 6 Years (Do Not Attach to BIR60): Under IRD rules, you do not need to attach receipts, tenancy agreements, mortgage statements, tuition invoices, or insurance premium certificates when submitting Form BIR60 [S2]. However, you are legally required to retain all supporting documents and receipts for 6 years after the expiration of the relevant year of assessment, and produce them promptly if your case is selected by the IRD for review or audit [S2].

Frequently Asked Questions

How much Hong Kong Salaries Tax do I pay on a HK$30,000 monthly salary?

A single employee earning HK$30,000 per month (HK$360,000 per year) with HK$18,000 in mandatory MPF contributions and the HK$132,000 Basic Allowance has a net chargeable income of HK$210,000, resulting in HK$17,700 in baseline progressive Salaries Tax, or HK$5,000 if claiming the full HK$100,000 Domestic Rents Deduction.

Can I claim both the Basic Allowance and the Married Person’s Allowance?

No. Under the Inland Revenue Ordinance (Cap. 112), the HK$132,000 Basic Allowance and the HK$264,000 Married Person’s Allowance are mutually exclusive. If you qualify for and claim the HK$264,000 Married Person’s Allowance, you cannot also deduct the HK$132,000 Basic Allowance on the same assessment.

What is the Child Allowance for Hong Kong Salaries Tax in 2025/26 and 2026/27?

The statutory Child Allowance is HK$130,000 per eligible child for the 1st to 9th child in each year of assessment, plus an additional one-off allowance of HK$130,000 for each child in the year of assessment in which the child is born, bringing the birth-year total to HK$260,000 per newborn child.

Can unused MPF voluntary contribution (TVC) or annuity (QDAP) deductions carry forward?

No. Qualifying Deferred Annuity Policy (QDAP) premiums and MPF Tax Deductible Voluntary Contributions (TVC) share a combined maximum deduction cap of HK$60,000 per year of assessment, and any unused portion of this annual cap expires at the end of the tax year on 31 March and cannot be carried forward.

Official Sources & Verification Record

Disclaimer: This guide provides general information and illustrative calculations based on official Hong Kong Inland Revenue Department (IRD) schedules. It does not constitute personalised tax, legal, or accounting advice. Individual tax assessments depend on your specific employment structure, residency facts, and statutory elections — always refer directly to the Inland Revenue Department (IRD) or a qualified professional for assessment rules applicable to your case.

Source ID Official Authority & Document Title Official URL Verified Date HTTP Status Scope Verified
S1 GovHK / Inland Revenue Department (IRD) — Amount of Allowance (Recent Years) https://www.gov.hk/en/residents/taxes/salaries/allowances/allowances/7years.htm 2026-11-05 HTTP 200 Basic Allowance (HK$132,000), Married Person’s Allowance (HK$264,000), Child Allowance (HK$130,000 per child for 1st–9th child + HK$130,000 in year of birth), Dependent Brother/Sister (HK$37,500), Dependent Parent/Grandparent (HK$50,000 + HK$50,000 aged 60+; HK$25,000 + HK$25,000 aged 55–59), Single Parent (HK$132,000), Personal Disability (HK$75,000), and Disabled Dependant (HK$75,000), plus enacted 2026/27 schedule figures.
S2 GovHK / Inland Revenue Department (IRD) — Deductions under Salaries Tax and Personal Assessment https://www.gov.hk/en/residents/taxes/salaries/allowances/deductions/index.htm 2026-11-05 HTTP 200 Statutory annual caps and rules for Mandatory MPF (HK$18,000), Domestic Rents (HK$100,000 base / HK$120,000 with eligible child born on or after 25 Oct 2023), Home Loan Interest (HK$100,000 base / HK$120,000 with eligible child, 20 years), Self-Education Expenses (HK$100,000), Elderly Residential Care Expenses (HK$100,000), VHIS (HK$8,000 per insured person), QDAP & MPF TVC (HK$60,000 combined cap, non-carry-forward), Approved Charitable Donations (35% cap, HK$100 minimum), and Form BIR60 6-year receipt retention requirement.
S3 GovHK / Inland Revenue Department (IRD) — Tax Rates of Salaries Tax & Personal Assessment https://www.gov.hk/en/residents/taxes/taxfiling/taxrates/salariesrates.htm 2026-11-05 HTTP 200 Progressive tax bands (HK$50,000 tranches at 2%, 6%, 10%, 14%, remainder at 17% on Net Chargeable Income), Two-Tiered Standard Rates (15% on first HK$5,000,000 of Net Income before allowances; 16% on remainder from 2024/25 onwards), lower-of-two rule, and Standard Rate zone income thresholds.

FAQ

How much Hong Kong Salaries Tax do I pay on a HK$30,000 monthly salary?

A single employee earning HK$30,000 per month (HK$360,000 per year) with HK$18,000 in mandatory MPF contributions and the HK$132,000 Basic Allowance has a net chargeable income of HK$210,000, resulting in HK$17,700 in baseline progressive Salaries Tax, or HK$5,000 if claiming the full HK$100,000 Domestic Rents Deduction.

Can I claim both the Basic Allowance and the Married Person’s Allowance?

No. Under the Inland Revenue Ordinance (Cap. 112), the HK$132,000 Basic Allowance and the HK$264,000 Married Person’s Allowance are mutually exclusive. If you qualify for and claim the HK$264,000 Married Person’s Allowance, you cannot also deduct the HK$132,000 Basic Allowance on the same assessment.

What is the Child Allowance for Hong Kong Salaries Tax in 2025/26 and 2026/27?

The statutory Child Allowance is HK$130,000 per eligible child for the 1st to 9th child in each year of assessment, plus an additional one-off allowance of HK$130,000 for each child in the year of assessment in which the child is born, bringing the birth-year total to HK$260,000 per newborn child.

Can unused MPF voluntary contribution (TVC) or annuity (QDAP) deductions carry forward?

No. Qualifying Deferred Annuity Policy (QDAP) premiums and MPF Tax Deductible Voluntary Contributions (TVC) share a combined maximum deduction cap of HK$60,000 per year of assessment, and any unused portion of this annual cap expires at the end of the tax year on 31 March and cannot be carried forward.