{"id":19695,"date":"2018-03-03T02:49:06","date_gmt":"2018-03-02T23:49:06","guid":{"rendered":"http:\/\/ww-vb.mine.nu\/w108\/budget-2018-tax-deductions-for-hongkongers-renting-their-homes-not-feasible-this-year-says-finance-chief\/"},"modified":"2018-03-03T02:49:24","modified_gmt":"2018-03-02T23:49:24","slug":"budget-2018-tax-deductions-for-hongkongers-renting-their-homes-not-feasible-this-year-says-finance-chief","status":"publish","type":"post","link":"https:\/\/hameed.nwar.uk\/sa\/budget-2018-tax-deductions-for-hongkongers-renting-their-homes-not-feasible-this-year-says-finance-chief\/","title":{"rendered":"Budget 2018: Tax deductions for Hongkongers renting their homes not feasible this year, says finance chief"},"content":{"rendered":"

Financial Secretary Paul Chan says he looked into providing tax deductions for residents who are renting their properties for the annual budget, but it was not feasible this year.<\/p>\n

\u201cIf we do that, the computer system at the Inland Revenue Department has to be adjusted. We have to consider operational details, and consider whether there will be room for problems,\u201d he said during a joint radio programme on Thursday.<\/p>\n

During a joint TV programme on Wednesday night, he said that the tax forms \u201chad already been printed\u201d and thus it was not feasible.<\/p>\n

\"Paul<\/p>\n

Paul Chan. Photo: LegCo.<\/p>\n

On the radio show, he also said the government considered conducting an electricity fee waiver: \u201cBut from an environmental viewpoint, we do not agree very much with an electricity fee waiver for all,\u201d he said, adding that the government will provide additional subsidies for low-income families.<\/p>\n

Chan said around 40 per cent of the record high HK$138 billion surplus<\/a> would be given back to the public in different ways. For instance, citizens who benefit from the Comprehensive Social Security Assistance will receive two months worth of subsidies.<\/p>\n

The budget did not provide significant measures for solving issues related to the property market.<\/p>\n

\"public<\/p>\n

A public housing estate under construction in Cheung Sha Wan. File Photo: HKFP\/Ellie Ng.<\/p>\n

\u201cHousing prices are currently rising. If we help fresh graduates \u2013 who have limited financial capability \u2013 to enter this rising property market, we will be causing them to receive ticking bombs,\u201d he said.<\/p>\n

\u201cWe do not feel this is appropriate. If the property market changes, it will have a huge impact on them.\u201d<\/p>\n

2018 budget in full:<\/h6>\n