An Yong advocates the first stamp duty free of 6 million

Although the property prices have fallen back in recent months, it is still difficult to get on the bus. For the new Budget, the accounting firm Ernst & Young recommends that local permanent residents who purchase their first home purchases will be exempted from stamp duty if they purchase a home valued at $6 million or less. According to the current regulations, a tax of $180,000 is payable on a residential building of $6 million. yuan. Asked if this will push up the price of the property, Chen Ruijuan, the managing partner of Ernst & Young Hong Kong and Macau, believes that the reduction of stamp duty can save up to 180,000 yuan for the first guest, which is only a drop in the first phase and other expenses. Worried that the proposal will make the price building more hot.

Ernst & Young also proposes to provide support to renters to allow taxpayers to deduct tax on the rental expenses of their primary residences. The maximum amount is $100,000 per annum and the tax deduction period is not more than five years.

Budget should not be sent directly

The new Budget will be announced next month. Ernst & Young expects the Hong Kong Government to have a surplus of $40 billion in the fiscal year 2018-2019, bringing the fiscal reserve to 1.14 trillion yuan. As the global economy is uncertain, Chen Ruijuan does not rule out that the budget will have a larger scale of relief for the people, but does not agree to send money directly because of limited economic benefits. For example, in 2011, the whole people sent 6,000 yuan and used about 38 billion yuan of public funds. There is no obvious economic benefit. If this amount is used to build public facilities such as hospitals, it will be more beneficial to people’s livelihood.

Ernst & Young suggests that the Government can allocate some of its fiscal reserves to introduce short-term relief measures, including a reduction of 75% to 2019 profits tax, salaries tax and personal income tax, with an upper limit of $20,000; and abolish the year-end difference from 2019 to 2020.饷, each owner’s name will benefit from the next rateable property, with a ceiling of 1,000 yuan per quarter; a business registration fee of 2019 to 2020 will be waived; and a licence fee for travel agencies, hotels and restaurants will be waived for one year. Ernst & Young believes that these one-off relief proposals will cost the government 30 billion yuan less.