2022-23 budget

Below are some policies announced in the 2022-23 Budget Speech:

Electronic Consumption Vouchers

• Issue $10,000 electronic consumption vouchers to each eligible Hong Kong permanent resident and new arrival aged 18 or above

• Previously registered persons: $5,000 consumption vouchers will be issued in April, remaining $5,000 vouchers will be issued in mid-year by instalment

• Newly eligible persons: after successful registration, $10,000 vouchers will be issued in mid-year by instalment

Tax Deduction for domestic rental expenses

• Ease the burden of renting a private property on taxpayers liable to salaries tax and tax under personal assessment who are not owners of domestic properties

• Subject to a deduction ceiling of $100,000 for a year of assessment from the year of assessment 2022/23

100% Personal Loan Guarantee Scheme for Individuals

• Extend the application period to end April 2023

• Increase the maximum loan amount to nine times of the applicant’s average monthly income during employment, and raise the ceiling to $100,000

• Extend the maximum repayment period to 10 years, and the maximum duration of principal moratorium to 18 months

• Lower the threshold for the Public Transport Fare Subsidy Scheme to $200 for half a year (May to October)

Others

• Reduce salaries tax and tax under personal assessment for the year of assessment 2021/22 by 100%, subject to a ceiling of $10,000

• Provide rates concession for domestic properties for 2022/23, subject to a ceiling of $1,500 per quarter in the first two quarters and a ceiling of $1,000 per quarter in the remaining two quarters

• Grant each eligible residential electricity account a subsidy of $1,000

• Provide an extra half-month allowance of standard CSSA payments, Old Age Allowance, Old Age Living Allowance or Disability Allowance. Similar arrangements will apply to Working Family Allowance

• Pay examination fees for school candidates sitting for the 2023 HKDSE Examination

• Strengthen support for e-learning of students from grassroots families through the $2 billion set aside in the Quality Education Fund

• Create 30 000 time-limited jobs through the $6.6 billion earmarked in AEF