Summary of 2010-11 Government Budget (Main Points for carrying business)

Bookmark and Share

Summary of 2010-11 Government Budget (Main Points for carrying business)



Salaries Tax Reduction

Reducing 75 per cent of salaries tax and tax under personal assessment for 2009-10, subject to a ceiling of $6,000. The reduction will be reflected in the taxpayer's final tax payable for 2009-10. This proposal will cost the Government about $4.5 billion and benefit all 1.4 million taxpayers.


Waive of Business Registration fee

Waiving the business registration fees for one year. This proposal will cost the Government about $1.8 billion.


Waive of rates for 2010-11

Waiving rates for 2010-11, subject to a ceiling of $1,500 per quarter for each rateable property. It is estimated that about 90 per cent of domestic properties and 60 per cent of non-domestic properties will be subject to no rates in the year. This proposal will cost the Government approximately $8.6 billion.


Raise stamp duty on properties valued over $20 million

Raise stamp duty on transactions of properties valued over $20 million from 3.75% to 4.25%. Buyers will not be allowed to defer stamp duty payment.


Additional $50,000 Grant on Patent Application

Extend profits tax deductions to cover the purchase of registered trademarks, copyrights and registered designs.


The Patent Application Grant under the Innovation and Technology Fund provides funding support to Hong Kong companies and inventors in their first patent applications. Government will raise the grant ceiling for each case from $100,000 to $150,000. The expenditure ceiling in respect of patent applications in R&D projects funded by the Innovation and Technology Fund will also be raised to $150,000 correspondingly.


100% tax deduction on environment-friendly commercial vehicles

Enterprises can enjoy a 100 per cent profits tax deduction in order to encourage the business sector to purchase more electric vehicles, hybrid vehicles and other environment-friendly commercial vehicles.

Drop us your email address and stay connected with us

Privacy Policy

Welcome to the website (“Site”) of Startup Business Centre (“Startup Business Centre”).

Startup Business Centre believes that the responsible use of personal information collected from you through this Site is critical to its business objectives and reputation. As part of our commitment to privacy, we have adopted this Privacy Policy.

This Privacy Policy relates solely to personal information supplied by you on this Site. Any personal information provided by you to Startup Business Centre through this Site may be used for the purposes of your request and/or for the purposes of providing services or other products to you.

The information which you are requested to provide on this Site may be transferred within the Startup Business Centre group comprising Startup Business Centre, its subsidiaries, affiliates and associated companies. This may include transfer, with your consent, to other members of the Startup Business Centre group in different jurisdictions. In providing your telephone and facsimile numbers you are agreeing that Startup Business Centre may contact you by telephone and facsimile. Startup Business Centre will not reveal your details to any external body, unless Startup Business Centre either has your permission, or is under a legal obligation or any other duty to do so, or such disclosure is for the purposes of your request and/or for the purposes of providing services or other products to you.

Startup Business Centre wishes to assure you that your personal information will be treated as confidential and with high standards of security and confidentiality. Startup Business Centre pledges its intention fully to meet internationally recognized standards of personal data privacy protection and to comply with the requirements of applicable data protection/privacy laws. In doing so, we will ensure compliance by our staff with the same high standards of security and confidentiality.



Startup Business Centre makes available the information and materials on the Website (the "Materials") for general informational purposes only.


The Materials, including but not limited to summaries, descriptions, publications and any other such materials appearing on the Website, are not intended to constitute, and DO NOT constitute, financial, investment or business advice. Those accessing the Materials should not act upon them without first seeking legal, financial or other such business counsel, as these Materials are general in nature, and may not apply to particular factual or legal circumstances. As such, the Materials should not be used as a substitute for consultation with a professional adviser. Please consult a professional adviser should you have questions regarding legal, financial or other such business counsel. Neither Startup Business Centre, nor its members, affiliates, employees, agents, officers or directors will be responsible for any financial, legal or business decisions you may make. Moreover, Startup Business Centre’s member firms are separate and independent legal entities, and you agree that Startup Business Centre is not responsible for any acts of omissions of these entities.


Any price quotation, service information, employment benefits information or any other such information regarding the provision and fees for any service offered by Startup Business Centre or the benefits of employment by Startup Business Centre are provided purely for informational and illustrative purposes. Startup Business Centre does not guarantee, and makes no warranty, promise, or agreement that any depicted or described service or benefit is actually offered or comports with its description on the Website. Startup Business Centre reserves the right to cease offering any such services or benefits to prospective or current employees or clients at any time, in all cases without notice or liability.

This Web site may contain typographical errors or inaccuracies, and may not be complete or current. Startup Business Centre therefore reserves the right to correct any errors, inaccuracies or omissions and to change or update information at any time without prior notice.


Certain links in this Site connecting to other third parties Sites are for general guidance only. Startup Business Centre makes no representations to the accuracy or any other aspect of information contained in those Sites.