Taxpayers is allege deductions to have home loan appeal (HLI) not as much as salaries income tax and personal assessment
This particular article covers qualification having write-offs, problems below which you’ll make a claim, just how deductions can maried people, the amount of time restriction with the revoking the allege, together with brand of help data files you will want to remain .
Qualifications having Deductions
This new HLI which you pay are deductible from your net assessable income lower than salaries tax or from your complete income less than personal review. Any person whoever earnings are rechargeable so you can tax on basic price is even entitled to good deduction.

you are the owner of the hold (sometimes once the a best manager, a joint-tenant or a renter in keeping) and you will possession is by mention of entered holder of your own property just like the shown in the ideas of Homes Registry;
the structure try a different sort of rateable equipment in Get Regulation: that is, it’s situated in Hong-kong;
the dwelling can be used wholly or partly as your place of home in the year of testing (if the house was partially made use of as the host to quarters, the degree of notice allowable would be minimal consequently);
you have to pay HLI inside season of testing to the a loan getting purchase of the structure;
the mortgage try protected of the a mortgage otherwise costs along side house or higher every other property inside Hong-kong; and you can
the financial institution try an organisation prescribed around section 26E(9) of the Inland Cash Ordinance (IRO), that is,(a) the federal government,(b) a lender,(c) a subscribed credit partnership,(d) a licensed money lender,(e) brand new Hong-kong Housing Community,(f) your boss, or(g) any business or association approved by the Commissioner out-of Inland Cash. […]