{"id":25398,"date":"2024-07-02T02:10:09","date_gmt":"2024-07-02T02:10:09","guid":{"rendered":"https:\/\/www.genacct.com\/register-company-tax-deduction\/"},"modified":"2026-08-18T02:02:41","modified_gmt":"2026-08-18T02:02:41","slug":"register-company-tax-deduction","status":"publish","type":"post","link":"https:\/\/www.genacct.com\/en\/register-company-tax-deduction\/","title":{"rendered":"[Tax Deductions for Starting a Business] Self-Employed Tax Filing Guide: Tax Benefits of Incorporating | 3 Key Points for Reducing Tax by Starting a Company"},"content":{"rendered":"\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\tWhy is setting up a company a tax-efficient option for self-employed individuals? Taxpayers are always most concerned with minimising tax, especially the self-employed, contractors, and freelancers. Drawing on years of Hong Kong experience in claiming tax deductions through company formation, General Accounting explains three key points for achieving the lowest possible tax by incorporating.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t
\n\t\t\t\t\t\t\t\t\t

Why do self-employed individuals receive tax benefits by incorporating?<\/h2>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t
\n\t\t\t\t\t\t\t\t\t

This is because companies have more deductible expenses than the deductions and allowances available under personal tax returns<\/strong>, while personal tax deductions and allowances are fixed. Apart from options such as joint assessment, progressive rates, and electing personal assessment, there are not many additional expense items that can be deducted, leaving limited room to implement the most tax-efficient plan.<\/p>

By contrast, incorporating a Hong Kong limited company<\/a> offers greater tax-deduction advantages. Under the Inland Revenue Ordinance2<\/sup>, expenses incurred in the production of profits in the course of carrying on a trade, profession, or business are generally deductible. Therefore, self-employed individuals can enjoy a more favourable tax-saving plan by incorporating and claiming deductions through the company.<\/strong><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t

\n\t\t\t\t\t\t\t\t\t

What expenses can be claimed as tax deductions after setting up a company?<\/h2>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t
\n\t\t\t\t\t
\r\n\r\n\r\n \r\n Common deductible business expenses<\/title>\r\n <style>\r\n table {\r\n width: 100%;\r\n border-collapse: collapse;\r\n font-family: Arial, sans-serif;\r\n }\r\n th, td {\r\n border: 1px solid #ccc;\r\n padding: 8px;\r\n text-align: left;\r\n }\r\n .header-row th {\r\n background-color: #FFFFFF; \/* \u767d\u8272 *\/\r\n font-weight: bold;\r\n }\r\n .data-row:nth-child(odd) {\r\n background-color: #FFFFFF; \/* \u767d\u8272 *\/\r\n }\r\n .data-row:nth-child(even) {\r\n background-color: #E6E6E6; \/* \u7070\u8272 *\/\r\n }\r\n .bold-text {\r\n font-weight: bold;\r\n }\r\n .center-text {\r\n text-align: center;\r\n }\r\n <\/style>\r\n\r\n\r\n <table>\r\n <tr class=\"header-row\">\r\n <th>Common deductible business expenses<\/th>\r\n <th>Examples<\/th>\r\n <\/tr>\r\n <tr class=\"data-row\">\r\n <td class=\"bold-text\">Cost of purchasing materials or goods<\/td>\r\n <td>Raw materials, stock purchases<\/td>\r\n <\/tr>\r\n <tr class=\"data-row\">\r\n <td class=\"bold-text\">Service expenses required for operations<\/td>\r\n <td>Accounting fees, cleaning fees<\/td>\r\n <\/tr>\r\n <tr class=\"data-row\">\r\n <td class=\"bold-text\">Transportation and delivery costs<\/td>\r\n <td>Freight for ordering and delivery<\/td>\r\n <\/tr>\r\n <tr class=\"data-row\">\r\n <td class=\"bold-text\">Travel expenses incurred for business trips<\/td>\r\n <td>Transport costs for meetings, exhibitions, etc.<\/td>\r\n <\/tr>\r\n <tr class=\"data-row\">\r\n <td class=\"bold-text\">Rent for shops, offices, or warehouses<\/td>\r\n <td>Office rent, booth rental at exhibitions<\/td>\r\n <\/tr>\r\n <tr class=\"data-row\">\r\n <td class=\"bold-text\">Water, electricity, gas, and miscellaneous charges incurred in business operations<\/td>\r\n <td>Utilities for the registered address, internet fees<\/td>\r\n <\/tr>\r\n <tr class=\"data-row\">\r\n <td class=\"bold-text\">Staff costs, including monthly wages, employee benefits, year-end bonuses, severance payments, and long service payments<\/td>\r\n <td>Staff-related expenses, training and professional development<\/td>\r\n <\/tr>\r\n <tr class=\"data-row\">\r\n <td class=\"bold-text\">MPF contributions<\/td>\r\n <td>Employer MPF contributions<\/td>\r\n <\/tr>\r\n <tr class=\"data-row\">\r\n <td class=\"bold-text\">Employee benefits, including medical insurance and transport allowances<\/td>\r\n <td>Group medical insurance, transport costs for overtime<\/td>\r\n <\/tr>\r\n <tr class=\"data-row\">\r\n <td class=\"bold-text\">Accommodation rental allowance<\/td>\r\n <td>Staff quarters rent, hotel expenses for business trips<\/td>\r\n <\/tr>\r\n <tr class=\"data-row\">\r\n <td class=\"bold-text\">Expenses for trademark design, patent applications, and trademark registration<\/td>\r\n <td>Design agency fees, patent testing fees<\/td>\r\n <\/tr>\r\n <tr class=\"data-row\">\r\n <td class=\"bold-text\">Bad debts not recoverable from customers<\/td>\r\n <td>Costs incurred when a customer defaults after you place an order on their behalf<\/td>\r\n <\/tr>\r\n <tr class=\"data-row\">\r\n <td class=\"bold-text\">Repairs and maintenance expenses incurred in business operations<\/td>\r\n <td>Repairs for office air conditioners and computers<\/td>\r\n <\/tr>\r\n <tr class=\"data-row\">\r\n <td class=\"bold-text\">Insurance expenses incurred in business operations<\/td>\r\n <td>Employees\u2019 compensation insurance, company third-party liability insurance<\/td>\r\n <\/tr>\r\n <tr class=\"data-row\">\r\n <td class=\"bold-text\">Business entertainment expenses<\/td>\r\n <td>Meals and refreshments for client meetings<\/td>\r\n <\/tr>\r\n <\/table>\r\n\r\n<\/div>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-cb5bbea elementor-widget elementor-widget-text-editor\" data-id=\"cb5bbea\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Further reading: <a href=\"https:\/\/www.genacct.com\/en\/employers-return\/\">Employer\u2019s Return<\/a> | <a href=\"https:\/\/www.genacct.com\/en\/ir56m\/\">What is IR56M?<\/a><strong><br><\/strong><\/p><p>All of the expenses listed above are incurred in the course of business operations and may be claimed as deductible items in <a href=\"https:\/\/www.genacct.com\/en\/company-taxation\/\">profits tax filing<\/a>. However, <strong>you must retain all relevant receipts and supporting documents, and be able to prove that the expenses were incurred in producing assessable profits<\/strong>.<\/p><p><strong>*<\/strong><strong>General Accounting reminder: It is best to label entertainment expenses as \u201cmaintaining the relationship with a particular client\u201d. As entertainment expenses are a common item in tax investigations, we recommend keeping receipts and records for greater protection.<\/strong><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-fccb0a4 elementor-widget elementor-widget-text-editor\" data-id=\"fccb0a4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h2>Company tax deductions: Special deduction items<\/h2>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e40dd63 elementor-widget elementor-widget-text-editor\" data-id=\"e40dd63\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>In addition to common deductible business expenses, there are also special deduction items. Please note the relevant requirements when claiming them.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a836d14 elementor-widget elementor-widget-html\" data-id=\"a836d14\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t\t<div>\r\n\r\n\r\n <meta charset=\"UTF-8\">\r\n <title>Key points to note for special deduction items<\/title>\r\n <style>\r\n table {\r\n width: 100%;\r\n border-collapse: collapse;\r\n font-family: Arial, sans-serif;\r\n }\r\n th, td {\r\n border: 1px solid #ccc;\r\n padding: 8px;\r\n text-align: left;\r\n vertical-align: top;\r\n }\r\n .header-row {\r\n background-color: #F0F0F0; \/* \u6d45\u7070\u8272 *\/\r\n font-weight: bold;\r\n text-align: center;\r\n }\r\n .data-row:nth-child(odd) {\r\n background-color: #FFFFFF; \/* \u767d\u8272 *\/\r\n }\r\n .data-row:nth-child(even) {\r\n background-color: #E6E6E6; \/* \u7070\u8272 *\/\r\n }\r\n .bold-text {\r\n font-weight: bold;\r\n }\r\n .center-text {\r\n text-align: center;\r\n }\r\n <\/style>\r\n\r\n\r\n <table>\r\n <tr class=\"header-row\">\r\n <th>Special deduction items<sup>2<\/sup><\/th>\r\n <th>Key points<\/th>\r\n <\/tr>\r\n <tr class=\"data-row\">\r\n <td class=\"bold-text\">Expenditure on renovation or refurbishment of buildings<sup>5<\/sup><\/td>\r\n <td>Capital expenditure incurred on renovating or refurbishing an office, shop, or warehouse is deductible evenly over five years, starting from the basis period in which the expenditure is actually paid.<\/td>\r\n <\/tr>\r\n <tr class=\"data-row\">\r\n <td class=\"bold-text\">Expenditure on the purchase of machinery and plant<\/td>\r\n <td>100% deductible in the basis period in which the expenditure is incurred.<\/td>\r\n <\/tr>\r\n <tr class=\"data-row\">\r\n <td class=\"bold-text\">Computer hardware and software expenditure<\/td>\r\n <td>100% deductible in the basis period in which the expenditure is incurred.<\/td>\r\n <\/tr>\r\n <tr class=\"data-row\">\r\n <td class=\"bold-text\">Purchase of environmentally friendly machinery<\/td>\r\n <td>100% deductible in the basis period in which the expenditure is incurred.<\/td>\r\n <\/tr>\r\n <tr class=\"data-row\">\r\n <td class=\"bold-text\">Purchase of environmentally friendly installations<\/td>\r\n <td>Deductible evenly over five years starting from the year in which the expenditure is incurred.<\/td>\r\n <\/tr>\r\n <tr class=\"data-row\">\r\n <td class=\"bold-text\">Purchase of environmentally friendly vehicles<\/td>\r\n <td>100% deductible in the basis period in which the expenditure is incurred.<\/td>\r\n <\/tr>\r\n <tr class=\"data-row\">\r\n <td class=\"bold-text\">Depreciation allowances for fixed assets<\/td>\r\n <td>Office furniture, air-conditioning equipment, machinery, vehicles, etc. may claim 60% in the basis period in which the expenditure is incurred (initial allowance). Thereafter, annual depreciation allowances are calculated on the reducing value of the asset at 10%, 20%, or 30%, as applicable.<\/td>\r\n <\/tr>\r\n <tr class=\"data-row\">\r\n <td class=\"bold-text\">Commercial buildings and structures<sup>6<\/sup><\/td>\r\n <td>For office fitting-out, the annual allowance is 4% of the construction cost. Upon cessation of ownership, a \u201cbalancing allowance\u201d may be granted or a \u201cbalancing charge\u201d may be imposed.<\/td>\r\n <\/tr>\r\n <tr class=\"data-row\">\r\n <td class=\"bold-text\">Industrial buildings and structures<sup>7<\/sup><\/td>\r\n <td>For industrial building fitting-out, 20% may be claimed as an initial allowance in the basis period in which the expenditure is incurred. Thereafter, an annual allowance of 4% is calculated on the reducing value of the asset. Upon cessation of ownership, a \u201cbalancing allowance\u201d may be granted or a \u201cbalancing charge\u201d may be imposed.<\/td>\r\n <\/tr>\r\n <tr class=\"data-row\">\r\n <td class=\"bold-text\">Tax deduction for charitable donations<\/td>\r\n <td>Donations made to IRD-approved charities<sup>8<\/sup> exceeding HK$100 are deductible, subject to a cap of 35% of assessable profits.<\/td>\r\n <\/tr>\r\n <\/table>\r\n\r\n<\/div>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3879768 elementor-align-left elementor-mobile-align-justify elementor-widget__width-initial elementor-widget-tablet__width-inherit elementor-widget-mobile__width-initial elementor-widget elementor-widget-button\" data-id=\"3879768\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/wa.me\/85268183861?text=Hi,%20General%20Accounting.\" target=\"_blank\" rel=\"noopener\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Enquire now<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b9d51a3 elementor-widget elementor-widget-text-editor\" data-id=\"b9d51a3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h2>Benefits of tax savings through incorporation<\/h2>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-99345cf elementor-widget elementor-widget-text-editor\" data-id=\"99345cf\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h3>Corporate tax rates are lower than personal tax rates<\/h3>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-65b5198 elementor-widget elementor-widget-text-editor\" data-id=\"65b5198\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\tIn recent years, the Hong Kong Government has implemented the two-tiered profits tax rates<sup>3<\/sup>. For Hong Kong limited companies, the first $2,000,000 of assessable profits is taxed at half of 16.5%, i.e. 8.25%, and the remaining profits are taxed at 16.5%. For sole proprietorships or partnerships, the corresponding two-tier profits tax rates are 7.5% and 15%. Therefore, incorporating can reduce tax by 50%, saving half of the tax payable.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d69dd99 elementor-widget elementor-widget-text-editor\" data-id=\"d69dd99\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h3>Company losses can be carried forward<\/h3>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-eac046f elementor-widget elementor-widget-text-editor\" data-id=\"eac046f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>According to the Hong Kong Inland Revenue Department<sup>4<\/sup>, losses incurred by a company in a year of assessment may be carried forward and used to offset the company\u2019s profits in subsequent years.<\/p><p>Example: The company incurred a loss of $100,000 in 2025. In the following financial year, i.e. 2026, it earned $250,000. As the prior-year loss can be used to offset the current-year profit, the assessable profits for 2026 are calculated as follows:<\/p><p>$250,000 (current-year profit) – $100,000 (prior-year loss) = $150,000 (assessable profits). By offsetting losses against profits, tax savings can be achieved.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5ee915e elementor-widget elementor-widget-text-editor\" data-id=\"5ee915e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h3>Tax savings through depreciation allowances on assets<\/h3>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-88cd3d5 elementor-widget elementor-widget-text-editor\" data-id=\"88cd3d5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>As mentioned above regarding depreciation allowances for fixed assets, please refer to the following example of \u201ctax savings by purchasing a vehicle under a limited company\u201d:<\/p><p>Background:<br\/>1. The purchase price of the vehicle can be claimed as a tax deduction through depreciation allowances;<br\/>2. Under the Inland Revenue Ordinance, 60% of the vehicle price can be claimed as a deductible expense in the first year, and in subsequent years, 30% of the remaining value can be claimed as depreciation allowances.<\/p><p>Assume a limited company purchases a van for $500,000 for goods delivery purposes:<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-cdac99c elementor-widget elementor-widget-html\" data-id=\"cdac99c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t\t<div>\r\n\r\n\r\n <meta charset=\"UTF-8\">\r\n <title>Depreciation calculation<\/title>\r\n <style>\r\n table {\r\n width: 100%;\r\n border-collapse: collapse;\r\n font-family: Arial, sans-serif;\r\n }\r\n th, td {\r\n border: 1px solid #ccc;\r\n padding: 8px;\r\n text-align: left;\r\n vertical-align: top;\r\n }\r\n .header-row {\r\n background-color: #F0F0F0; \/* \u6d45\u7070\u8272 *\/\r\n font-weight: bold;\r\n text-align: center;\r\n }\r\n .data-row:nth-child(odd) {\r\n background-color: #FFFFFF; \/* \u767d\u8272 *\/\r\n }\r\n .data-row:nth-child(even) {\r\n background-color: #E6E6E6; \/* \u7070\u8272 *\/\r\n }\r\n .bold-text {\r\n font-weight: bold;\r\n }\r\n .red-text {\r\n color: red;\r\n }\r\n .center-text {\r\n text-align: center;\r\n }\r\n <\/style>\r\n\r\n\r\n <table>\r\n <tr class=\"data-row\">\r\n <td class=\"center-text\">1<\/td>\r\n <td class=\"bold-text\">First-year depreciation allowance<\/td>\r\n <td>Vehicle price x 60%<br\/><span class=\"red-text\">$500,000 x 60% = $300,000<\/span><\/td>\r\n <\/tr>\r\n <tr class=\"data-row\">\r\n <td class=\"center-text\">2<\/td>\r\n <td class=\"bold-text\">Remaining depreciable value<\/td>\r\n <td>Vehicle price - first-year depreciation allowance<br\/><span class=\"red-text\">$500,000 - $300,000 = $200,000<\/span><\/td>\r\n <\/tr>\r\n <tr class=\"data-row\">\r\n <td class=\"center-text\">3<\/td>\r\n <td class=\"bold-text\">First-year remaining depreciation allowance<\/td>\r\n <td>Remaining depreciable value x 30%<br\/><span class=\"red-text\">$200,000 x 30% = $60,000<\/span><\/td>\r\n <\/tr>\r\n <\/table>\r\n\r\n<\/div>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f70a156 elementor-widget elementor-widget-text-editor\" data-id=\"f70a156\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>In the above example, in the first year the limited company can already claim depreciation allowances of $300,000 + $60,000 = $360,000.<\/p><p>For more details: <a href=\"https:\/\/www.genacct.com\/en\/corporate-accounting-services\/\">Company accounting services<\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8dbe7d3 elementor-widget elementor-widget-text-editor\" data-id=\"8dbe7d3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h2>Company tax deductions vs. self-employed tax filing<\/h2>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9a04ae6 elementor-widget elementor-widget-text-editor\" data-id=\"9a04ae6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>General Accounting handled a tax planning case in which the client, as a self-employed individual, undertook product transportation work for a food company. After our professional analysis, we advised the client that incorporating to claim tax deductions could provide more tax benefits. <br\/><br\/>Background:<br\/>Mr Chan (pseudonym), single, has no other allowances or deductions apart from the basic personal allowance of $132,000, and still needs to purchase a van, a mobile phone, and a computer for operations.<\/p><p>Assets purchased:<\/p><ol><li>Van $500,000<\/li><li>Mobile phone $12,000<\/li><li>Computer $18,000<\/li><\/ol><p>Operating expenses:<\/p><ol><li>Van maintenance: motor insurance, vehicle licence, repairs, averaging $3,000 per month<\/li><li>Van expenses: parking, fuel, tunnel fees, averaging about $12,000 per month<\/li><li>Operating expenses: phone bills, internet fees, and other miscellaneous expenses, averaging $2,000 per month<\/li><\/ol>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0197f8f elementor-widget elementor-widget-text-editor\" data-id=\"0197f8f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h3>Real-life example of tax deductions through incorporation<\/h3>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6389af9 elementor-widget elementor-widget-html\" data-id=\"6389af9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t\t<div>\r\n\r\n\r\n <meta charset=\"UTF-8\">\r\n <title>Tax calculation for Mr Chan\u2019s limited company<\/title>\r\n <style>\r\n body {\r\n font-family: Arial, sans-serif;\r\n }\r\n h2 {\r\n text-align: center;\r\n margin-bottom: 20px;\r\n color: #333; \/* \u6df1\u7070\u8272\u6587\u5b57 *\/\r\n font-size: 16px; \/* \u8abf\u6574\u70ba\u8207\u539f\u5716\u4e00\u81f4\u7684\u5927\u5c0f *\/\r\n font-weight: bold; \/* \u7c97\u9ad4\u986f\u793a *\/\r\n }\r\n table {\r\n width: 100%;\r\n border-collapse: collapse;\r\n margin: 0 auto;\r\n }\r\n th, td {\r\n border: 1px solid #ccc;\r\n padding: 8px;\r\n text-align: left;\r\n vertical-align: top;\r\n }\r\n .data-row:nth-child(odd) {\r\n background-color: #FFFFFF; \/* \u767d\u8272 *\/\r\n }\r\n .data-row:nth-child(even) {\r\n background-color: #E6E6E6; \/* \u7070\u8272 *\/\r\n }\r\n .bold-text {\r\n font-weight: bold;\r\n }\r\n <\/style>\r\n\r\n\r\n <h2>Tax calculation for Mr Chan\u2019s limited company<\/h2>\r\n <table>\r\n <tr class=\"data-row\">\r\n <td class=\"bold-text\">Income<\/td>\r\n <td>$50,000 x 12 = $600,000<\/td>\r\n <\/tr>\r\n <tr class=\"data-row\">\r\n <td class=\"bold-text\">Expenses<\/td>\r\n <td>($3,000 + $12,000 + $2,000) x 12 = $204,000<\/td>\r\n <\/tr>\r\n <tr class=\"data-row\">\r\n <td class=\"bold-text\">Director\u2019s remuneration (Mr Chan\u2019s salary)<\/td>\r\n <td>$20,000 x 12 = $240,000<\/td>\r\n <\/tr>\r\n <tr class=\"data-row\">\r\n <td class=\"bold-text\">First-year depreciation allowances<\/td>\r\n <td>$360,000<\/td>\r\n <\/tr>\r\n <\/table>\r\n\r\n<\/div>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f787210 elementor-widget elementor-widget-html\" data-id=\"f787210\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t\t<!DOCTYPE html><html lang=\"en\"><head><meta charset=\"UTF-8\"><title>Mr. Chen's Limited Company First Year Tax Loss<\/title><style>body {\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 font-family: Arial, sans-serif;\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 margin: 0;\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 padding: 20px;\n\u00a0 \u00a0 \u00a0 \u00a0 }\n\u00a0 \u00a0 \u00a0 \u00a0 h2 {\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 text-align: center;\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 margin-bottom: 10px;\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 color: #333; \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \/* \u6df1\u7070\u8272\u6587\u5b57 *\/\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 font-size: 16px; \u00a0 \u00a0 \u00a0 \/* \u8207\u539f\u5716\u4e00\u81f4\u7684\u5927\u5c0f *\/\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 font-weight: bold; \u00a0 \u00a0 \/* \u7c97\u9ad4\u986f\u793a *\/\n\u00a0 \u00a0 \u00a0 \u00a0 }\n\u00a0 \u00a0 \u00a0 \u00a0 table {\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 width: 100%;\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 border-collapse: collapse;\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 margin: 0 auto;\n\u00a0 \u00a0 \u00a0 \u00a0 }\n\u00a0 \u00a0 \u00a0 \u00a0 th, td {\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 border: 1px solid #ccc;\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 padding: 8px;\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 text-align: left;\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 vertical-align: top;\n\u00a0 \u00a0 \u00a0 \u00a0 }\n\u00a0 \u00a0 \u00a0 \u00a0 .header-row {\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 background-color: #F0F0F0; \/* \u6d45\u7070\u8272 *\/\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 font-weight: bold;\n\u00a0 \u00a0 \u00a0 \u00a0 }\n\u00a0 \u00a0 \u00a0 \u00a0 .data-row:nth-child(odd) {\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 background-color: #FFFFFF; \/* \u767d\u8272 *\/\n\u00a0 \u00a0 \u00a0 \u00a0 }\n\u00a0 \u00a0 \u00a0 \u00a0 .data-row:nth-child(even) {\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 background-color: #E6E6E6; \/* \u7070\u8272 *\/\n\u00a0 \u00a0 \u00a0 \u00a0 }\n\u00a0 \u00a0 \u00a0 \u00a0 .bold-text {\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 font-weight: bold;\n\u00a0 \u00a0 \u00a0 \u00a0 }\n\u00a0 \u00a0 <\/style><\/head><body><h2>Mr. Chen's Limited Company First Year Tax Loss<\/h2><table><tr class=\"data-row\"><td class=\"bold-text\">Revenue<\/td><td>$600,000<\/td><\/tr><tr class=\"data-row\"><td class=\"bold-text\">Miscellaneous Expenses<\/td><td>$204,000<\/td><\/tr><tr class=\"data-row\"><td class=\"bold-text\">Director's Remuneration<\/td><td>$240,000<\/td><\/tr><tr class=\"data-row\"><td class=\"bold-text\">First Year Depreciation<\/td><td>$360,000<\/td><\/tr><tr class=\"data-row\"><td class=\"bold-text\">Telephone and Computer<\/td><td>$30,000<\/td><\/tr><tr class=\"data-row\"><td class=\"bold-text\">Loss:<\/td><td>$234,000<\/td><\/tr><\/table><\/body><\/html>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2ff5f6f elementor-widget elementor-widget-html\" data-id=\"2ff5f6f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t\t<!DOCTYPE html><html lang=\"en\"><head><meta charset=\"UTF-8\"><title>Mr. Chen's Personal Income Tax<\/title><style>body {\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 font-family: Arial, sans-serif;\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 margin: 0;\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 padding: 20px;\n\u00a0 \u00a0 \u00a0 \u00a0 }\n\u00a0 \u00a0 \u00a0 \u00a0 h2 {\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 text-align: center;\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 margin-bottom: 10px;\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 color: #333; \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \/* \u6df1\u7070\u8272\u6587\u5b57 *\/\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 font-size: 16px; \u00a0 \u00a0 \u00a0 \/* \u8207\u539f\u5716\u4e00\u81f4\u7684\u5927\u5c0f *\/\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 font-weight: bold; \u00a0 \u00a0 \/* \u7c97\u9ad4\u986f\u793a *\/\n\u00a0 \u00a0 \u00a0 \u00a0 }\n\u00a0 \u00a0 \u00a0 \u00a0 table {\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 width: 100%;\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 border-collapse: collapse;\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 margin: 0 auto;\n\u00a0 \u00a0 \u00a0 \u00a0 }\n\u00a0 \u00a0 \u00a0 \u00a0 th, td {\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 border: 1px solid #ccc;\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 padding: 8px;\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 text-align: left;\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 vertical-align: top;\n\u00a0 \u00a0 \u00a0 \u00a0 }\n\u00a0 \u00a0 \u00a0 \u00a0 .header-row {\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 background-color: #F0F0F0; \/* \u6d45\u7070\u8272 *\/\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 font-weight: bold;\n\u00a0 \u00a0 \u00a0 \u00a0 }\n\u00a0 \u00a0 \u00a0 \u00a0 .data-row:nth-child(odd) {\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 background-color: #FFFFFF; \/* \u767d\u8272 *\/\n\u00a0 \u00a0 \u00a0 \u00a0 }\n\u00a0 \u00a0 \u00a0 \u00a0 .data-row:nth-child(even) {\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 background-color: #E6E6E6; \/* \u7070\u8272 *\/\n\u00a0 \u00a0 \u00a0 \u00a0 }\n\u00a0 \u00a0 \u00a0 \u00a0 .bold-text {\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 font-weight: bold;\n\u00a0 \u00a0 \u00a0 \u00a0 }\n\u00a0 \u00a0 <\/style><\/head><body><h2>Mr. Chen's Personal Income Tax<\/h2><table><tr class=\"data-row\"><td class=\"bold-text\">Director's Remuneration<\/td><td>$240,000 -<\/td><\/tr><tr class=\"data-row\"><td class=\"bold-text\">Personal Allowance<\/td><td>$132,000<\/td><\/tr><tr class=\"data-row\"><td class=\"bold-text\">Net Chargeable Income<\/td><td>$108,000<\/td><\/tr><tr class=\"data-row\"><td class=\"bold-text\">Tax Payable<\/td><td>$4,800<\/td><\/tr><\/table><\/body><\/html>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8323203 elementor-widget elementor-widget-text-editor\" data-id=\"8323203\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h3>Example of self-employed tax filing<\/h3>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-acc2436 elementor-widget elementor-widget-text-editor\" data-id=\"acc2436\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>As Mr Chan files tax as a self-employed individual, he cannot claim any depreciation allowances, expenses, or miscellaneous costs, and can only calculate tax directly based on income of $600,000.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b86046e elementor-widget elementor-widget-html\" data-id=\"b86046e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t\t<!DOCTYPE html><html lang=\"en\"><head><meta charset=\"UTF-8\"><title>Mr. Chen's Personal Income Tax<\/title><style>body {\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 font-family: Arial, sans-serif;\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 margin: 0;\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 padding: 20px;\n\u00a0 \u00a0 \u00a0 \u00a0 }\n\u00a0 \u00a0 \u00a0 \u00a0 h2 {\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 text-align: center;\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 margin-bottom: 10px;\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 color: #333; \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \/* \u6df1\u7070\u8272\u6587\u5b57 *\/\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 font-size: 16px; \u00a0 \u00a0 \u00a0 \/* \u8207\u539f\u5716\u4e00\u81f4\u7684\u5927\u5c0f *\/\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 font-weight: bold; \u00a0 \u00a0 \/* \u7c97\u9ad4\u986f\u793a *\/\n\u00a0 \u00a0 \u00a0 \u00a0 }\n\u00a0 \u00a0 \u00a0 \u00a0 table {\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 width: 100%;\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 border-collapse: collapse;\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 margin: 0 auto;\n\u00a0 \u00a0 \u00a0 \u00a0 }\n\u00a0 \u00a0 \u00a0 \u00a0 th, td {\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 border: 1px solid #ccc;\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 padding: 8px;\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 text-align: left;\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 vertical-align: top;\n\u00a0 \u00a0 \u00a0 \u00a0 }\n\u00a0 \u00a0 \u00a0 \u00a0 .header-row {\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 background-color: #F0F0F0; \/* \u6d45\u7070\u8272 *\/\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 font-weight: bold;\n\u00a0 \u00a0 \u00a0 \u00a0 }\n\u00a0 \u00a0 \u00a0 \u00a0 .data-row:nth-child(odd) {\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 background-color: #FFFFFF; \/* \u767d\u8272 *\/\n\u00a0 \u00a0 \u00a0 \u00a0 }\n\u00a0 \u00a0 \u00a0 \u00a0 .data-row:nth-child(even) {\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 background-color: #E6E6E6; \/* \u7070\u8272 *\/\n\u00a0 \u00a0 \u00a0 \u00a0 }\n\u00a0 \u00a0 \u00a0 \u00a0 .bold-text {\n\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 font-weight: bold;\n\u00a0 \u00a0 \u00a0 \u00a0 }\n\u00a0 \u00a0 <\/style><\/head><body><h2>Mr. Chen's Personal Income Tax<\/h2><table><tr class=\"data-row\"><td class=\"bold-text\">Income<\/td><td>$600,000 -<\/td><\/tr><tr class=\"data-row\"><td class=\"bold-text\">Personal Allowance<\/td><td>$132,000<\/td><\/tr><tr class=\"data-row\"><td class=\"bold-text\">Net Chargeable Income<\/td><td>$468,000<\/td><\/tr><tr class=\"data-row\"><td class=\"bold-text\">Tax Payable<\/td><td>$61,560<\/td><\/tr><\/table><\/body><\/html>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1fdda66 elementor-widget elementor-widget-text-editor\" data-id=\"1fdda66\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h3>Comparison analysis: tax savings through incorporation vs. self-employed tax filing<\/h3>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0f50557 elementor-widget elementor-widget-text-editor\" data-id=\"0f50557\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Based on Mr Chan\u2019s real case, the difference in tax payable between company registration and self-employed tax filing is as follows:<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b537544 elementor-widget elementor-widget-html\" data-id=\"b537544\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t\t<div>\r\n\r\n\r\n <meta charset=\"UTF-8\">\r\n <title>Deductible expenses<\/title>\r\n <style>\r\n body {\r\n font-family: Arial, sans-serif;\r\n margin: 0;\r\n padding: 20px;\r\n }\r\n table {\r\n width: 100%;\r\n border-collapse: collapse;\r\n margin: 0 auto;\r\n }\r\n th, td {\r\n border: 1px solid #ccc;\r\n padding: 8px;\r\n text-align: center;\r\n vertical-align: middle;\r\n }\r\n .header-row {\r\n background-color: #F0F0F0; \/* \u6d45\u7070\u8272 *\/\r\n font-weight: bold;\r\n }\r\n .data-row:nth-child(odd) {\r\n background-color: #FFFFFF; \/* \u767d\u8272 *\/\r\n }\r\n .data-row:nth-child(even) {\r\n background-color: #E6E6E6; \/* \u7070\u8272 *\/\r\n }\r\n .bold-text {\r\n font-weight: bold;\r\n }\r\n <\/style>\r\n\r\n\r\n <table>\r\n <tr class=\"header-row\">\r\n <th>Deductible expenses<\/th>\r\n <th>Amount<\/th>\r\n <th>Tax savings by setting up a company<\/th>\r\n <th>Self-employed<\/th>\r\n <\/tr>\r\n <tr class=\"data-row\">\r\n <td>First-year depreciation allowance<\/td>\r\n <td>$300,000<\/td>\r\n <td>V<\/td>\r\n <td>X<\/td>\r\n <\/tr>\r\n <tr class=\"data-row\">\r\n <td>First-year remaining depreciation allowance<\/td>\r\n <td>$60,000<\/td>\r\n <td>V<\/td>\r\n <td>X<\/td>\r\n <\/tr>\r\n <tr class=\"data-row\">\r\n <td>Phone and computer<\/td>\r\n <td>$30,000<\/td>\r\n <td>V<\/td>\r\n <td>X<\/td>\r\n <\/tr>\r\n <tr class=\"data-row\">\r\n <td>Miscellaneous expenses<\/td>\r\n <td>$204,000<\/td>\r\n <td>V<\/td>\r\n <td>X<\/td>\r\n <\/tr>\r\n <tr class=\"data-row\">\r\n <td>Director\u2019s remuneration<\/td>\r\n <td>$240,000<\/td>\r\n <td>V<\/td>\r\n <td>X<\/td>\r\n <\/tr>\r\n <\/table>\r\n\r\n<\/div>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-abfb12f elementor-widget elementor-widget-text-editor\" data-id=\"abfb12f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>From the table above, the first-year depreciation allowances for the van total $360,000, and the company\u2019s loss of $234,000 can be carried forward to the next profits tax year.<\/p><p>Further Reading: <a href=\"https:\/\/www.genacct.com\/en\/tax-deadline\/\">When to receive tax returns? A complete guide to tax months, individual\/company tax filing, and tax extensions<\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0bc9d4f elementor-widget elementor-widget-text-editor\" data-id=\"0bc9d4f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h3>How can tax planning be used effectively to reduce tax?<\/h3>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-50293be elementor-widget elementor-widget-text-editor\" data-id=\"50293be\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Assuming Mr Chan\u2019s limited company makes a surplus of $244,400 in the following year, it can first deduct the prior-year loss of $234,000, leaving assessable profits of only $10,000. General Accounting recommends setting Mr Chan\u2019s director\u2019s remuneration at $240,000 to fully utilise his personal allowance and progressive tax benefits. As a result, Mr Chan would need to pay $4,800 in salaries tax.<\/p><p>If director\u2019s remuneration is set only to cover the basic personal allowance, the company\u2019s profit would increase by $100,000. At 8.25%, the company would need to pay approximately $8,250 in tax. Currently, by incorporating and claiming deductions, Mr Chan only needs to pay $4,800 in tax. This shows that General Accounting\u2019s tax planning secures the maximum tax-saving benefits for Mr Chan.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c632d73 elementor-widget elementor-widget-text-editor\" data-id=\"c632d73\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h2>Why does incorporating and claiming deductions result in less tax than filing as a self-employed individual?<\/h2>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f695fcc elementor-widget elementor-widget-text-editor\" data-id=\"f695fcc\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Because a company has more deductible items than a personal tax return, understanding how to flexibly apply tax concessions, company registration, and allowances and deductions within the legal framework can generally achieve tax savings.<\/p><p>However, to calculate the most tax-efficient option, tax planning and engaging a professional accounting firm are required. Using Mr Chan\u2019s arrangement as an example, this is a standalone case and his tax-saving method is not applicable to others, as everyone\u2019s background and income differ.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-dcf18aa elementor-align-left elementor-mobile-align-justify elementor-widget__width-initial elementor-widget-tablet__width-inherit elementor-widget-mobile__width-initial elementor-widget elementor-widget-button\" data-id=\"dcf18aa\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/wa.me\/85268183861?text=Hi,%20General%20Accounting.\" target=\"_blank\" rel=\"noopener\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Enquire now<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d513a7c elementor-widget elementor-widget-text-editor\" data-id=\"d513a7c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h2>Three key points to note for tax savings through incorporation<\/h2>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b3f2200 elementor-widget elementor-widget-text-editor\" data-id=\"b3f2200\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h4>Keep original receipts for expenses<\/h4>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1f250e7 elementor-widget elementor-widget-text-editor\" data-id=\"1f250e7\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Under statutory requirements, keep all original expense receipts for at least seven years. The IRD may also conduct spot checks on expense and income details. In particular, for company entertainment expenses, records must be accurate and originals must be retained for tax audit purposes.<\/p><p>The more detailed the receipt records, the higher the chance that the expenses can be accepted for tax reduction. Missing receipts or unclear records may affect the deductible amount.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-98739eb elementor-widget elementor-widget-text-editor\" data-id=\"98739eb\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h4>Conduct tax planning<\/h4>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f90dbef elementor-widget elementor-widget-text-editor\" data-id=\"f90dbef\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Tax planning is where a professional tax adviser provides clients with the most tax-efficient solution based on their individual background and professional expertise. Even after setting up a company to claim more deductions, if you are not familiar with the Inland Revenue Ordinance, you may not be able to calculate the most favourable tax relief based on your personal circumstances.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b5d8039 elementor-widget elementor-widget-text-editor\" data-id=\"b5d8039\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h4>Engage an experienced accounting firm<\/h4>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7fff03d elementor-widget elementor-widget-text-editor\" data-id=\"7fff03d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><a href=\"https:\/\/www.genacct.com\/en\/tax-services\/\">Accounting and tax filing services<\/a> cover a wide scope. Accounting firms have extensive tax filing experience and are familiar with different tax-saving methods, and can <strong>help clients pay the lowest possible tax within what the law allows<\/strong>.<\/p><p><a href=\"https:\/\/www.genacct.com\/en\/\">General Accounting<\/a> has been established for over 20 years. As a diversified accounting and tax filing firm, we provide one-stop services. In addition to tax information, we also offer services such as <a href=\"https:\/\/www.genacct.com\/en\/set-up-unlimited-company\/\">setting up a sole proprietorship\/partnership<\/a>, <a href=\"https:\/\/www.genacct.com\/en\/set-up-limited-company\/\">incorporating a Hong Kong limited company<\/a>, replying to IRD enquiries, and handling offshore income tax matters. We provide one-to-one professional follow-up throughout the process and strive to deliver the most tax-efficient solutions based on each client\u2019s background and case, helping clients save time and costs so they can focus on business development.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2bdfa4a elementor-widget elementor-widget-text-editor\" data-id=\"2bdfa4a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h2>Frequently Asked Questions<\/h2>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5fe69c8 elementor-widget elementor-widget-html\" data-id=\"5fe69c8\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t\t<iframe width=\"560\" height=\"420\" src=\"https:\/\/www.youtube.com\/embed\/HWw9PdDR5V4?si=caPmU1SDvH3fWDeI\" title=\"YouTube video player\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen=\"\"><\/iframe>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2580697 elementor-widget elementor-widget-text-editor\" data-id=\"2580697\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h2>Conclusion<\/h2>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5f1c679 elementor-widget elementor-widget-text-editor\" data-id=\"5f1c679\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>The above outlines how to claim tax deductions by setting up a company, including the tax-saving methods, real-case comparison analysis, and three key points to note. Self-employed individuals may consider incorporating and using tax planning to obtain the maximum tax deductions.<\/p><p>Tax planning requires substantial professional knowledge and a significant amount of time to plan and arrange. In comparison, engaging a professional and reliable accounting firm is more efficient than learning it yourself. In addition, the process of incorporating a limited company and opening a corporate bank account can be relatively complex. General Accounting provides one-stop incorporation and company secretarial services.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3338d90 elementor-align-left elementor-mobile-align-justify elementor-widget__width-initial elementor-widget-tablet__width-inherit elementor-widget-mobile__width-initial elementor-widget elementor-widget-button\" data-id=\"3338d90\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/wa.me\/85268183861?text=Hi,%20General%20Accounting.\" target=\"_blank\" rel=\"noopener\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Enquire now<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5600988 elementor-widget elementor-widget-text-editor\" data-id=\"5600988\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\tGeneral Accounting has been established for over 20 years and provides <strong>sole proprietorship\/partnership and limited company incorporation<\/strong> services. Trust or Company Service Provider licence no.: TC002940. If you have any questions about <strong>company tax deductions<\/strong>, our professional customer service managers can provide free initial <strong>company formation and tax<\/strong> enquiry support.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-cf68d76 elementor-widget elementor-widget-text-editor\" data-id=\"cf68d76\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Further reading:<\/p><p><a href=\"https:\/\/www.genacct.com\/en\/company-registration-procedure\">[Company Formation Process] Steps and Fees for Setting Up an Unlimited\/Limited Company in Hong Kong | Complete Guide<\/a><\/p><p><a href=\"https:\/\/www.genacct.com\/en\/rental-income\/\">[Property Tax] vs Company Investment Rental Income | Tax Evasion vs Tax Planning | Penalties for Underreporting Rental Income<\/a><\/p><p><a href=\"https:\/\/www.genacct.com\/en\/company-taxation\/\">[Corporate Tax Filing] Unlimited\/Limited Company Tax Filing Tutorial | Latest Guide on Rates, Fees, and Procedures<\/a><\/p><p><a href=\"https:\/\/www.genacct.com\/en\/etax\/\">eTAX Account Application and Activation Guide | Solutions for Forgotten eTAX Password \/ Taxpayer Identification Number (TIN)<\/a><\/p><p><a href=\"https:\/\/www.genacct.com\/en\/company-registration-cost\">[Company Incorporation Costs] How much does it cost to set up a company? Sole Proprietorship vs Limited Company registration fees <\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3cd3135 elementor-widget elementor-widget-text-editor\" data-id=\"3cd3135\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<div class=\"break-word\"><p>Sources<\/p><p>1. Profits Tax for Sole Proprietorships and Partnerships (Overview)<br\/>https:\/\/www.ird.gov.hk\/chi\/pdf\/pam57c.pdf<br\/>2. Profits Tax \u2013 Inland Revenue Department<br\/>https:\/\/www.ird.gov.hk\/chi\/tax\/bus_pft.htm<br\/>3. Two-tiered Profits Tax Rates<br\/>https:\/\/www.ird.gov.hk\/chi\/faq\/2tr.htm<br\/>4. Departmental Interpretation and Practice Notes No. 8 (Revised)<br\/>https:\/\/www.ird.gov.hk\/chi\/pdf\/dipn08.pdf<br\/>5. Inland Revenue Ordinance Section 16 \u2013 Building renovation expenditure<br\/>https:\/\/www.elegislation.gov.hk\/hk\/cap112!zh-Hant-HK<br\/>6. Annual allowance for commercial buildings and structures<br\/>https:\/\/www.elegislation.gov.hk\/hk\/cap112!zh-Hant-HK<br\/>7. Inland Revenue Ordinance Section 34 \u2013 Initial and annual allowances for industrial buildings and structures<br\/>https:\/\/www.elegislation.gov.hk\/hk\/cap112!zh-Hant-HK<br\/>8. IRD-approved charitable donations<br\/>https:\/\/www.gov.hk\/tc\/residents\/taxes\/salaries\/allowances\/deductions\/approveddonation.htm<\/p><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-538d7db elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"538d7db\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{"background_background":"classic"}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-eb1ce1f\" data-id=\"eb1ce1f\" data-element_type=\"column\" data-e-type=\"column\" data-settings=\"{"background_background":"classic"}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-741cf0c uae-toc-hide-heading elementor-widget elementor-widget-heading\" data-id=\"741cf0c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<div class=\"elementor-heading-title elementor-size-default\">Questions about \u201cCompany Tax Deduction Items\u201d<br \/>Free consultation by General Accounting<\/div>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0f0dc08 elementor-widget-divider--view-line elementor-invisible elementor-widget elementor-widget-divider\" data-id=\"0f0dc08\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{"_animation":"zoomIn"}\" data-widget_type=\"divider.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1c8fd36 elementor-button-align-stretch elementor-widget elementor-widget-form\" data-id=\"1c8fd36\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{"step_next_label":"Next","step_previous_label":"Previous","button_width":"100","step_type":"number_text","step_icon_shape":"circle"}\" data-widget_type=\"form.default\">\n\t\t\t\t\t\t\t<form class=\"elementor-form\" method=\"post\" name=\"New Form\" aria-label=\"New Form\">\n\t\t\t<input type=\"hidden\" name=\"post_id\" value=\"25398\"\/>\n\t\t\t<input type=\"hidden\" name=\"form_id\" value=\"1c8fd36\"\/>\n\t\t\t<input type=\"hidden\" name=\"referer_title\" value=\"\" \/>\n\n\t\t\t\n\t\t\t<div class=\"elementor-form-fields-wrapper elementor-labels-above\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-field-type-text elementor-field-group elementor-column elementor-field-group-name elementor-col-50 elementor-field-required\">\n\t\t\t\t\t\t\t\t\t\t\t\t<label for=\"form-field-name\" class=\"elementor-field-label\">\n\t\t\t\t\t\t\t\tCustomer Name\t\t\t\t\t\t\t<\/label>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<input size=\"1\" type=\"text\" name=\"form_fields[name]\" id=\"form-field-name\" class=\"elementor-field elementor-size-sm elementor-field-textual\" required=\"required\">\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<div class=\"elementor-field-type-text elementor-field-group elementor-column elementor-field-group-field_65a0d99 elementor-col-50 elementor-field-required\">\n\t\t\t\t\t\t\t\t\t\t\t\t<label for=\"form-field-field_65a0d99\" class=\"elementor-field-label\">\n\t\t\t\t\t\t\t\tCompany Name (if any)\t\t\t\t\t\t\t<\/label>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<input size=\"1\" type=\"text\" name=\"form_fields[field_65a0d99]\" id=\"form-field-field_65a0d99\" class=\"elementor-field elementor-size-sm elementor-field-textual\" required=\"required\">\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<div class=\"elementor-field-type-radio elementor-field-group elementor-column elementor-field-group-field_1d1b960 elementor-col-100\">\n\t\t\t\t\t\t\t\t\t\t\t\t<label for=\"form-field-field_1d1b960\" class=\"elementor-field-label\">\n\t\t\t\t\t\t\t\tTitle\t\t\t\t\t\t\t<\/label>\n\t\t\t\t\t\t<div class=\"elementor-field-subgroup elementor-subgroup-inline\"><span class=\"elementor-field-option\"><input type=\"radio\" value=\"Mr. \/ Mrs \/ Miss\" id=\"form-field-field_1d1b960-0\" name=\"form_fields[field_1d1b960]\"> <label for=\"form-field-field_1d1b960-0\">Mr. \/ Mrs \/ Miss<\/label><\/span><\/div>\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<div class=\"elementor-field-type-email elementor-field-group elementor-column elementor-field-group-email elementor-col-50 elementor-field-required\">\n\t\t\t\t\t\t\t\t\t\t\t\t<label for=\"form-field-email\" class=\"elementor-field-label\">\n\t\t\t\t\t\t\t\tE-mail\t\t\t\t\t\t\t<\/label>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<input size=\"1\" type=\"email\" name=\"form_fields[email]\" id=\"form-field-email\" class=\"elementor-field elementor-size-sm elementor-field-textual\" required=\"required\">\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<div class=\"elementor-field-type-tel elementor-field-group elementor-column elementor-field-group-field_4305727 elementor-col-50 elementor-field-required\">\n\t\t\t\t\t\t\t\t\t\t\t\t<label for=\"form-field-field_4305727\" class=\"elementor-field-label\">\n\t\t\t\t\t\t\t\tContact Number\t\t\t\t\t\t\t<\/label>\n\t\t\t\t\t\t\t\t<input size=\"1\" type=\"tel\" name=\"form_fields[field_4305727]\" id=\"form-field-field_4305727\" class=\"elementor-field elementor-size-sm elementor-field-textual\" required=\"required\" pattern=\"[0-9()#&+*-=.]+\" title=\"Only numbers and phone characters (#, -, *, etc) are accepted.\">\n\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<div class=\"elementor-field-type-text elementor-field-group elementor-column elementor-field-group-field_d97814d elementor-col-100 elementor-field-required\">\n\t\t\t\t\t\t\t\t\t\t\t\t<label for=\"form-field-field_d97814d\" class=\"elementor-field-label\">\n\t\t\t\t\t\t\t\tInquiries\t\t\t\t\t\t\t<\/label>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<input size=\"1\" type=\"text\" name=\"form_fields[field_d97814d]\" id=\"form-field-field_d97814d\" class=\"elementor-field elementor-size-sm elementor-field-textual\" placeholder=\"Company Tax Deduction Items\" required=\"required\">\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<div class=\"elementor-field-group elementor-column elementor-field-type-submit elementor-col-100 e-form__buttons\">\n\t\t\t\t\t<button class=\"elementor-button elementor-size-sm\" type=\"submit\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Send Immediately<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/button>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<input type='hidden' name='lang' value='en' \/><\/form>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-86b88b5 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"86b88b5\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-a741f69\" data-id=\"a741f69\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2b8b561 elementor-widget elementor-widget-text-editor\" data-id=\"2b8b561\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h2 class=\"uae-toc-hide-heading\">Would you like to learn about General Accounting\u2019s professional services?<\/h2>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-384c12d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"384c12d\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-a91517b\" data-id=\"a91517b\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f14fc2c elementor-cta--skin-classic elementor-animated-content elementor-bg-transform elementor-bg-transform-zoom-in elementor-widget elementor-widget-call-to-action\" data-id=\"f14fc2c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"call-to-action.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-cta\">\n\t\t\t\t\t<div class=\"elementor-cta__bg-wrapper\">\n\t\t\t\t<div class=\"elementor-cta__bg elementor-bg\" style=\"background-image: url(https:\/\/www.genacct.com\/wp-content\/uploads\/2024\/03\/\u5831\u7a05\u670d\u52d9.webp);\" role=\"img\" aria-label=\"What is the difference between the \u201cEmployer\u2019s Return\u201d BIR56A and IR56B? What you need to know for the latest 2024 filing\"><\/div>\n\t\t\t\t<div class=\"elementor-cta__bg-overlay\"><\/div>\n\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-cta__content\">\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-cta__button-wrapper elementor-cta__content-item elementor-content-item \">\n\t\t\t\t\t<a class=\"elementor-cta__button elementor-button elementor-size-\" href=\"https:\/\/www.genacct.com\/en\/tax-services\/\">\n\t\t\t\t\t\tTax Filing Services\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-df62010\" data-id=\"df62010\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-030d985 elementor-cta--skin-classic elementor-animated-content elementor-bg-transform elementor-bg-transform-zoom-in elementor-widget elementor-widget-call-to-action\" data-id=\"030d985\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"call-to-action.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-cta\">\n\t\t\t\t\t<div class=\"elementor-cta__bg-wrapper\">\n\t\t\t\t<div class=\"elementor-cta__bg elementor-bg\" style=\"background-image: url(https:\/\/www.genacct.com\/wp-content\/uploads\/2024\/03\/\u6703\u8a08\u670d\u52d9.webp);\" role=\"img\" aria-label=\"Accounting and Auditing Services\"><\/div>\n\t\t\t\t<div class=\"elementor-cta__bg-overlay\"><\/div>\n\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-cta__content\">\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-cta__button-wrapper elementor-cta__content-item elementor-content-item \">\n\t\t\t\t\t<a class=\"elementor-cta__button elementor-button elementor-size-\" href=\"https:\/\/www.genacct.com\/en\/corporate-accounting-services\/\">\n\t\t\t\t\t\tAccounting Services\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-e2a1687\" data-id=\"e2a1687\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f1818c2 elementor-cta--skin-classic elementor-animated-content elementor-bg-transform elementor-bg-transform-zoom-in elementor-widget elementor-widget-call-to-action\" data-id=\"f1818c2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"call-to-action.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-cta\">\n\t\t\t\t\t<div class=\"elementor-cta__bg-wrapper\">\n\t\t\t\t<div class=\"elementor-cta__bg elementor-bg\" style=\"background-image: url(https:\/\/www.genacct.com\/wp-content\/uploads\/2023\/08\/\u96e2\u5cb8\u516c\u53f8\u597d\u8655-\u958b\u516c\u53f8-1024x683.webp);\" role=\"img\" aria-label=\"Start a Company\"><\/div>\n\t\t\t\t<div class=\"elementor-cta__bg-overlay\"><\/div>\n\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-cta__content\">\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-cta__button-wrapper elementor-cta__content-item elementor-content-item \">\n\t\t\t\t\t<a class=\"elementor-cta__button elementor-button elementor-size-\" href=\"https:\/\/www.genacct.com\/en\/set-up-limited-company\/\">\n\t\t\t\t\t\tStart a Company\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-73107f7 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"73107f7\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{"background_background":"classic"}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-aa5693d\" data-id=\"aa5693d\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4def052 elementor-widget elementor-widget-heading\" data-id=\"4def052\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h6 class=\"elementor-heading-title elementor-size-default\">Questions about \u201cSelf-Employed Tax Filing Guide\u201d<br \/>Free consultation by General Accounting<\/h6>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5283b76 elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"5283b76\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"tel:85225819231\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-phone-alt\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M497.39 361.8l-112-48a24 24 0 0 0-28 6.9l-49.6 60.6A370.66 370.66 0 0 1 130.6 204.11l60.6-49.6a23.94 23.94 0 0 0 6.9-28l-48-112A24.16 24.16 0 0 0 122.6.61l-104 24A24 24 0 0 0 0 48c0 256.5 207.9 464 464 464a24 24 0 0 0 23.4-18.6l24-104a24.29 24.29 0 0 0-14.01-27.6z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Phone: (852) 2581 9231<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/wa.me\/85268183861?text=Hi,%20General%20Accounting.\" target=\"_blank\" rel=\"noopener\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fab-whatsapp\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M380.9 97.1C339 55.1 283.2 32 223.9 32c-122.4 0-222 99.6-222 222 0 39.1 10.2 77.3 29.6 111L0 480l117.7-30.9c32.4 17.7 68.9 27 106.1 27h.1c122.3 0 224.1-99.6 224.1-222 0-59.3-25.2-115-67.1-157zm-157 341.6c-33.2 0-65.7-8.9-94-25.7l-6.7-4-69.8 18.3L72 359.2l-4.4-7c-18.5-29.4-28.2-63.3-28.2-98.2 0-101.7 82.8-184.5 184.6-184.5 49.3 0 95.6 19.2 130.4 54.1 34.8 34.9 56.2 81.2 56.1 130.5 0 101.8-84.9 184.6-186.6 184.6zm101.2-138.2c-5.5-2.8-32.8-16.2-37.9-18-5.1-1.9-8.8-2.8-12.5 2.8-3.7 5.6-14.3 18-17.6 21.8-3.2 3.7-6.5 4.2-12 1.4-32.6-16.3-54-29.1-75.5-66-5.7-9.8 5.7-9.1 16.3-30.3 1.8-3.7.9-6.9-.5-9.7-1.4-2.8-12.5-30.1-17.1-41.2-4.5-10.8-9.1-9.3-12.5-9.5-3.2-.2-6.9-.2-10.6-.2-3.7 0-9.7 1.4-14.8 6.9-5.1 5.6-19.4 19-19.4 46.3 0 27.3 19.9 53.7 22.6 57.4 2.8 3.7 39.1 59.7 94.8 83.8 35.2 15.2 49 16.5 66.6 13.9 10.7-1.6 32.8-13.4 37.4-26.4 4.6-13 4.6-24.1 3.2-26.4-1.3-2.5-5-3.9-10.5-6.6z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">WhatsApp: (852) 6818 3861<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"mailto:%20cs@genacct.com\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-envelope\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M502.3 190.8c3.9-3.1 9.7-.2 9.7 4.7V400c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V195.6c0-5 5.7-7.8 9.7-4.7 22.4 17.4 52.1 39.5 154.1 113.6 21.1 15.4 56.7 47.8 92.2 47.6 35.7.3 72-32.8 92.3-47.6 102-74.1 131.6-96.3 154-113.7zM256 320c23.2.4 56.6-29.2 73.4-41.4 132.7-96.3 142.8-104.7 173.4-128.7 5.8-4.5 9.2-11.5 9.2-18.9v-19c0-26.5-21.5-48-48-48H48C21.5 64 0 85.5 0 112v19c0 7.4 3.4 14.3 9.2 18.9 30.6 23.9 40.7 32.4 173.4 128.7 16.8 12.2 50.2 41.8 73.4 41.4z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Email: cs@genacct.com<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0f4d242 elementor-align-left elementor-mobile-align-justify elementor-widget__width-initial elementor-widget-tablet__width-inherit elementor-widget-mobile__width-initial elementor-widget elementor-widget-button\" data-id=\"0f4d242\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/wa.me\/85268183861?text=Hi,%20General%20Accounting.\" target=\"_blank\" rel=\"noopener\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Contact Us<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d29e391 elementor-align-left elementor-widget__width-initial elementor-mobile-align-justify elementor-widget-tablet__width-inherit elementor-widget-mobile__width-initial elementor-widget elementor-widget-button\" data-id=\"d29e391\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/www.genacct.com\/en\/tax-services\/\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Tax Filing Services<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Why is setting up a company a tax-efficient option for self-employed individuals? Taxpayers are always most concerned with minimising tax, especially the self-employed, contractors, and freelancers. Drawing on years of Hong Kong experience in claiming tax deductions through company formation, General Accounting explains three key points for achieving the lowest possible tax by incorporating. Table […]<\/p>\n","protected":false},"author":13,"featured_media":24601,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[126,125],"tags":[128,137,138,143],"class_list":["post-25398","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-tax-filing","category-blogs","tag-corporate-tax-returns","tag-personal-allowances","tag-personal-assessment","tag-start-a-company"],"_links":{"self":[{"href":"https:\/\/www.genacct.com\/en\/wp-json\/wp\/v2\/posts\/25398","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.genacct.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.genacct.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.genacct.com\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/www.genacct.com\/en\/wp-json\/wp\/v2\/comments?post=25398"}],"version-history":[{"count":8,"href":"https:\/\/www.genacct.com\/en\/wp-json\/wp\/v2\/posts\/25398\/revisions"}],"predecessor-version":[{"id":27808,"href":"https:\/\/www.genacct.com\/en\/wp-json\/wp\/v2\/posts\/25398\/revisions\/27808"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.genacct.com\/en\/wp-json\/wp\/v2\/media\/24601"}],"wp:attachment":[{"href":"https:\/\/www.genacct.com\/en\/wp-json\/wp\/v2\/media?parent=25398"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.genacct.com\/en\/wp-json\/wp\/v2\/categories?post=25398"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.genacct.com\/en\/wp-json\/wp\/v2\/tags?post=25398"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}