This post talks about eligibility to have write-offs, circumstances below that you’ll claim, how deductions can maried people, enough time restriction towards revoking your own claim, as well as the form of help data files you ought to keep .

Eligibility having Write-offs

Brand new HLI that you shell out is deductible from the net assessable money around salaries taxation or from your own complete income significantly less than personal assessment. Any individual whoever earnings is chargeable to help you taxation from the basic rates is additionally entitled to a great deduction.

• you’re manager of your own dwelling (possibly once the an only manager, a joint-tenant otherwise a renter in common) and you can control is via reference to the joined holder of your own possessions as shown about facts of House Registry;
• the structure try a different rateable equipment according to the Get Ordinance: that’s, it is based in Hong kong;
• the structure is employed wholly or partly since your place of quarters in the year away from testing (if your hold was partly used as host to residence, the degree of interest allowable might be minimal correctly);
• you only pay HLI inside seasons off investigations to the a loan to possess purchase of the dwelling;
• the borrowed funds are shielded by the a mortgage otherwise charges along side house or higher every other assets inside Hong-kong; and you may
• the financial institution try an organisation prescribed less than part 26E(9) of your Inland Cash Ordinance (IRO), which is,(a) the us government,(b) a lending institution,(c) a registered credit connection,(d) a licensed loan provider,(e) the latest Hong-kong Property Area,(f) your boss, or(g) any organization or relationship approved by the Commissioner off Inland Money. Read more