2018-2019 Budget

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Reducing Tax

- Waive rates for 4 quarters of 2018-19, subject to a ceiling of $2,500 per quarter for each ratable property

- Reduce profit tax for Year of Assessment 2017-18 by 75% subject to a ceiling of $30,000

- Increase the basic and additional child allowances to $120,000

- Increase allowance for maintaining a dependent parent or grandparent aged 60 or above to $50,000

- Increase allowance for maintaining a dependent parent or grandparent aged between 55 and 59 to $25,000


Innovation and Technology

- Allocate $200 million to Cyberport to enhance support for start-ups

- Inject $10 million into the innovation and Technology Fund to support applied research and development

- Inject $1 million into the CreareSmart Imitative to support development of the creative industries


Nurturing Talent

- Set aside $1 billion to support the work of the Youth Development Commission


Caring and Sharing

-  Provide a one-off grant of $2,000 to each student in need

-  Pay the examination fees for candidates sitting for the 2019 Hong Kong DSE Examination

-  Provide an extra allowance to recipients of CSSA, Old Age Allowance or Disability Allowance, equal to 2 months of the standard rate.   



-  Provide a one-off additional $1,000 worth of elderly health care vouchers, involving an expenditure of $796 million

-  Extend the Colorectal Cancer Screening Programme to cover individuals aged between 50 and 75, involving a total expenditure of $940 million over the coming 5 years


Land Resources

-  2018-19 Land Sal Programme includes 4 commercial/ hotel sites, capable of proving about 530 000 square meters of floor area

-  Set aside $1 billion to subsidies eligible projects, to optimize the use of vacant government sites or school premises

-  Public Housing: estimated production for the next five years is about 100 000 units



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