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.

Healthcare

• 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

More Details: www.budget.gov.hk/