Hong Kong's new bail-out measures to exempt two-quarter employees from tax rebate

BEIJING, May 27 (Xinhua) Hong Kong's "Big Bulletin" Today in the news report, Hong Kong's first quarter gross domestic product negative growth of 7.8%, earlier this month, "Influenza A", Hong Kong Financial Secretary John Tsang said Hong Kong is facing "the most serious moment."　　Mr Tsang 26th honoured Hong Kong Chief executive Donald Tsang's pledge to launch 17 "overweight" relief measures involving an amount of $16.8 billion. In a number of new measures, 17 relief measures have been taken to waive the last two quarters of the current year, with a maximum of $1500 per household, with the highest amount of money involved, and the SAR government will therefore receive a small sum of $4.2 billion. As the earlier budget has announced the waiver of rates for the first two quarters of this year, in other words, all 2.85 million properties in Hong Kong, of which 90% are residential and 60% non-domestic, will be exempted from rates for the whole year.　　If we do not have any property and only live in public housing estates, we can also benefit from this "overweight" measure because the SAR government will pay two months ' rent for public housing tenants, with a contribution of $2 billion. Bai Shiwan Tax Refund In addition, 1.4 million wage earners who need to pay taxes have benefited from the new measures. Mr Tsang announced that the budget would propose to reduce the annual salaries tax and personal assessment to 50%, with an upper limit of $6,000, up to 100%, and a maximum of $8,000, which would be estimated to reduce the SAR government's revenue by about 2 billion yuan, and that more than 800,000 taxpayers would not be taxed.　　The source said that taxpayers had to wait until the following year before they could receive a cheque for the refund, but the government will send a cheque this October, which is estimated to benefit some 500,000 people. One-month allowance for CSSA The government has not accepted the request of the SAR government to extend the traffic allowance and to provide loans to the unemployed in the "overweight" measures. Mr Tsang said that the measures proposed by the political parties had not yet been reviewed or would involve new policies. However, he stressed that the "Special loan guarantee scheme for SMEs" would protect 140,000 jobs and that the employment situation could be improved.　　In addition, the "grassroots" have benefited from the new measures, with some 480,000 CSSA recipients receiving an additional one-month comprehensive social Security assistance payment, and the old age allowance and the disability allowance will receive a further one-month allowance. One-year exemption from licence fees the new measures also address the impact of influenza A on Hong Kong's economy, including the concession of licence fees for the industries concerned for one year, and the recruitment of more short-term posts to strengthen the epidemic prevention work, which is estimated to be about $1 billion. In addition, the new measures include waiving the business registration fee for one year, waiving the interest payable on two-year student loans, injecting $1.2 billion into the continuing Education Fund, increasing the "building renewal operation" allocation of $1 billion, receiving a subsidy of $1000 for students receiving CSSA or student support in the next school year, and enhancing the commitment of the SME Credit guarantee scheme, The benefits are very broad.