{"id":25475,"date":"2024-03-25T08:40:38","date_gmt":"2024-03-25T08:40:38","guid":{"rendered":"https:\/\/www.genacct.com\/rental-income\/"},"modified":"2026-08-18T02:03:41","modified_gmt":"2026-08-18T02:03:41","slug":"rental-income","status":"publish","type":"post","link":"https:\/\/www.genacct.com\/en\/rental-income\/","title":{"rendered":"[Property Tax] vs Company Investment Rental Income | Tax Evasion vs Tax Planning | Penalties for Underreporting Rental Income"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"25475\" class=\"elementor elementor-25475 elementor-13815\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-d1984a5 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"d1984a5\" data-element_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-1ca994b\" data-id=\"1ca994b\" data-element_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-e5d99b8 elementor-widget elementor-widget-text-editor\" data-id=\"e5d99b8\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Whether you <strong><span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/www.genacct.com\/en\/purchasing-property-via-a-company\/\">purchase a property in the name of a company<\/a><\/span><\/strong> or as an individual and lease it out, the rental income must be <strong><span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/www.genacct.com\/en\/tax-services\/\" class=\"broken_link\">reported<\/a><\/span><\/strong> and taxed. When calculating the property tax payable, it is also necessary to consider whether the rental income is assessed under Personal Assessment or Property Tax.<\/p><p>The assessable value for property tax is determined based on the consideration paid for the right to use the property. This includes:<\/p><ul><li>Total rent received or receivable;<\/li><li>License fees paid for the right to use the building;<\/li><li>Lease premium (key money);<\/li><li>Service and management fees paid to the owner;<\/li><li>Repair costs paid by the tenant, etc.<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-536cad5 elementor-widget elementor-widget-text-editor\" data-id=\"536cad5\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h2><span style=\"font-size: 24pt;\">Calculation of Rental Income for Properties Purchased by a Company<\/span><\/h2>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5ac7469 elementor-widget elementor-widget-text-editor\" data-id=\"5ac7469\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Corporate Rental Income:<br\/>Rental income from property held in the name of a company = Limited company income<\/p><p>Regardless of the type of property held by a limited company\u2014including residential buildings, industrial\/commercial buildings, offices, shops, or parking spaces\u2014if the property is leased, all rental income must be assessed as company income and declared under Profits Tax during the annual <strong><span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/www.genacct.com\/en\/corporate-accounting-services\/\" class=\"broken_link\">accounting and tax filing<\/a><\/span><\/strong>. Rental income from properties held in an individual&#8217;s name must also be reported; by law, certain expenses can be deducted, and individual property tax can be calculated using either personal allowances or the standard property tax rate.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d0df3b3 elementor-widget elementor-widget-text-editor\" data-id=\"d0df3b3\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h2><span style=\"font-size: 24pt;\">Method 1: Standard Property Tax Rate<\/span><\/h2>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-896aa55 elementor-widget elementor-widget-text-editor\" data-id=\"896aa55\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Rental income from properties held in an individual&#8217;s name can apply for statutory deductions, including: rates paid by the owner, irrecoverable rent, and a statutory allowance for repairs and outgoings (20% of the net rental income after deducting other expenses <span style=\"font-size: 16px; font-style: normal; font-weight: 400;\">).<\/span> <span style=\"font-size: 16px;\">This is calculated by taking the sum of the above three values x 80%, and finally multiplying by the standard rate of 15%.<\/span><\/p><p>Example:<br\/>Property Rent (1 year): HK$240,000<br\/>Irrecoverable Rent: HK$20,000<br\/>Rates paid by owner: HK$10,000<\/p><p><strong>Calculation using the Standard Property Tax Rate Method<\/strong><\/p><p><span style=\"color: #0000ff;\">Step 1:<br\/>(1 year of property rent &#8211; Irrecoverable rent &#8211; Rates paid by owner) x Statutory allowance for repairs and outgoings = Net assessable value<\/span><\/p><p>Example: (HK$240,000 \u2013 HK$20,000 &#8211; HK$10,000) x 80% = HK$168,000<\/p><p><span style=\"color: #0000ff;\">Step 2:<\/span><br\/><span style=\"color: #0000ff;\">Net assessable value x Standard rate = Tax payable<\/span><\/p><p>Example: HK$168,000 x 15% = HK$25,200<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a87ecb6 elementor-widget elementor-widget-text-editor\" data-id=\"a87ecb6\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h2><span style=\"font-size: 24pt;\">Method 2: Utilizing Personal Assessment Allowances<\/span><\/h2>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-61a8ea2 elementor-widget elementor-widget-text-editor\" data-id=\"61a8ea2\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Rental income from properties held in an individual&#8217;s name must be reported. If you choose Personal Assessment, the tax is calculated based on rental income after deducting personal allowances and mortgage interest paid for the leased property (capped at HK$50,000 per year), then applying progressive tax rates.<\/p><p>Example:<br\/>Owner is single, eligible for a basic allowance of HK$132,000<br\/>Property has no mortgage<br\/>Rental income: HK$240,000 per year<\/p><p><strong>Calculated as Property Tax:<\/strong><br\/>Rental income x Net assessable percentage x Standard rate = Property tax payable<br\/>(HK$240,000 x 80% x 15%) = HK$28,800<\/p><p>If you want to save on tax, choosing Personal Assessment is often better!<\/p><p><strong>Calculated under Personal Assessment:<\/strong><br\/><span style=\"color: #0000ff;\">Step 1: Rental income &#8211; Basic allowance<\/span><br\/><span style=\"color: #0000ff;\">Step 2: First HK$50,000 taxed at 2%<\/span><br\/><span style=\"color: #0000ff;\">Step 3: Next HK$50,000 taxed at 6%<\/span><br\/><span style=\"color: #0000ff;\">Step 4: Remaining balance taxed at 10% to 17% (progressive rates; rental income affects personal income)<\/span><br\/><span style=\"color: #0000ff;\">Step 5: (1+2+3) = Tax payable<\/span><\/p><p>Example:<\/p><p>Step 1: HK$240,000 &#8211; HK$132,000 = HK$108,000<br\/>Step 2: First HK$50,000 taxed at 2% = HK$1,000<br\/>Step 3: Next HK$50,000 taxed at 6% = HK$3,000<br\/>Step 4: Remaining HK$8,000 taxed at 10% = HK$800<br\/>Step 5: (HK$1,000 + HK$3,000 + HK$800) = HK$4,800*.<\/p><p>*If calculated for the 2025\/2026 tax year, you may also enjoy a HK$3,000 tax reduction, meaning the final tax payable would be HK$1,800, saving up to HK$27,000!<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c788fab elementor-widget elementor-widget-text-editor\" data-id=\"c788fab\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h2><span style=\"font-size: 24pt;\">Legal Tax Saving = Tax Planning<\/span><\/h2>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a70a635 elementor-widget elementor-widget-text-editor\" data-id=\"a70a635\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>In Hong Kong, both individuals and companies must comply with the Inland Revenue Ordinance by filing tax returns on time and paying taxes accordingly. For those with significant personal assets, tax reporting can be complex; accidental omissions or calculation errors may lead to risks of penalties for tax evasion. It is recommended that complex tax cases involve a professional tax consultant to conduct tax planning and assessments based on individual needs.<\/p><p>Professional tax consultants provide tailor-made tax planning for clients to legally enjoy the best tax benefits and pay the minimum amount of tax. General Accounting has over 20 years of experience in tax filing.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-43bc804 elementor-widget elementor-widget-text-editor\" data-id=\"43bc804\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h2><span style=\"font-size: 24pt;\">Hong Kong Tax Services include:<\/span><\/h2>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6e04076 elementor-widget elementor-widget-text-editor\" data-id=\"6e04076\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<ul><li><strong>Tax Planning<br\/><\/strong>Based on different client backgrounds, we integrate profits from limited companies, unlimited companies, salaries, and rental income to ensure clients pay the minimum Hong Kong tax through the most favorable and legal tax-saving methods.<br><br><\/li><li><strong>Individual Tax Filing<br\/><\/strong>Providing professional tax planning based on client needs and specific cases, filing individual tax returns, and calculating assessable income and allowances.<br><br><\/li><li><strong>Profits Tax Returns<\/strong><br\/>Calculating tax for limited companies based on audited tax reports and the Inland Revenue Ordinance, providing tax computations and other required schedules.<br><br><\/li><li><strong>Property Tax Returns<\/strong><br\/>Reporting rental income from properties, calculating deductible expenses, and submitting property tax returns along with information required by the Inland Revenue Department.<br><br><\/li><li><strong>Employer&#8217;s Returns<\/strong><br\/>Providing professional information based on payroll data provided by the company to calculate and file employer&#8217;s returns for employees.<br><br><\/li><li><strong>Acting as Tax Representative<\/strong><br\/>Representing individuals, unlimited companies, or limited companies in applying for extensions, consulting, and following up on all tax matters with the Inland Revenue Department.<br><br><\/li><li><strong>Objection to Assessments<\/strong><br\/>Analyzing client cases and providing professional advice, representing clients in applying for objections to assessments or estimated assessments, and handling correspondence with the Inland Revenue Department.<br><br><\/li><li><strong>Tax Assistance<\/strong><br\/>If clients have any tax-related questions, General Accounting&#8217;s tax representatives can provide professional advice to help resolve tax difficulties.<br><br><\/li><li><strong>Tax Investigation<\/strong><br\/>Representing clients in responding to inquiries from the Inland Revenue Department during tax investigations and providing professional advice to resolve investigation issues.<br><br><\/li><li><strong>Tax Litigation<\/strong><br\/>Providing tax advice regarding tax litigation and resolving litigation matters reasonably and legally according to the requirements of the Inland Revenue Department.<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c655fab elementor-widget elementor-widget-text-editor\" data-id=\"c655fab\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h2><span style=\"font-size: 24pt;\"> Difference Between Tax Planning and Tax Evasion<\/span><\/h2>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5100681 elementor-widget elementor-widget-text-editor\" data-id=\"5100681\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Tax planning involves declaring income and expenses according to the Inland Revenue Ordinance. Professional tax services provide the most favorable tax filing solutions legally and compliantly within the framework of the law, allowing clients to pay the minimum tax.<\/p><p>Conversely, <strong><span style=\"color: #ff0000;\">tax evasion is an illegal act<\/span><\/strong>, such as concealing income, intentionally providing false information when filing tax returns, or deliberately hiding true financial status to obtain improper tax benefits.<\/p><p>Upon conviction, the company and relevant personnel will be held legally liable. General penalties are as follows:<\/p><p>Fine of HK$10,000 on summary conviction;<br \/>Fine of HK$50,000 on indictment;<br \/>A fine of 3 times the amount of tax evaded;<br \/>Additional punitive tax of 3 times the amount of tax evaded;<br \/>6 months imprisonment on summary conviction; 3 years imprisonment on indictment.<\/p><p>Source: <strong><span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/www.ird.gov.hk\/eng\/pol\/ppo.htm\" target=\"_blank\" rel=\"noopener\">Inland Revenue Department &#8211; Penalty Policy<\/a><\/span><\/strong><\/p><p>According to the Hong Kong Inland Revenue Ordinance, tax evasion is a criminal offense. Upon conviction, the Inland Revenue Department will prosecute the party involved, and the court may ultimately impose a prison sentence (maximum 3 years) and a fine of HK$50,000 for each charge, plus a further fine of 3 times the amount of tax undercharged. Furthermore, it is an offense for any person to submit an incorrect tax return without a reasonable excuse.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6da1684 elementor-widget elementor-widget-text-editor\" data-id=\"6da1684\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h2><span style=\"font-size: 24pt;\">Penalties and Consequences for Omission of Rental Income\n<\/span><\/h2>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b92583e elementor-widget elementor-widget-text-editor\" data-id=\"b92583e\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Recently, the Hong Kong Inland Revenue Department announced a case of tax evasion where a real estate agent omitted rental income. According to IRD data, a real estate agent was convicted of tax evasion in the District Court on March 15, 2024, and the judge adjourned the case for sentencing on April 19.<\/p><p>The defendant failed to report any property rental income in tax returns for the years of assessment 2008\/09 to 2014\/15, and only declared rental income and tax for one of the leased properties in the 2015\/16 return. An IRD investigation revealed that the defendant, personally or through agents, sought tenants for 10 rental properties (4 of which were subdivided units), with rental income deposited into bank accounts belonging to the defendant, family members, or companies. A total of HK$4,605,711 in rental income was omitted or under-reported between 2008\/09 and 2015\/16, resulting in tax undercharged of HK$534,840.<\/p><p>Source: <strong><span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/www.ird.gov.hk\/eng\/ppr\/archives\/24031502.htm\" target=\"_blank\" rel=\"noopener\">Real estate agent convicted of omitting rental income and making false claims for deduction of home loan interest<\/a><\/span><\/strong><\/p><p>Latest news on April 19, 2024: The real estate agent was sentenced to 7 months of immediate imprisonment and a fine of HK$240,000 (HK$20,000 for each charge).<\/p><p>News Source: <a href=\"https:\/\/www.ird.gov.hk\/eng\/ppr\/archives\/24041901.htm\" target=\"_blank\" rel=\"noopener\"><span style=\"color: #0000ff;\"><strong>Real estate agent sentenced to imprisonment and fined for omitting rental income and making false claims for home loan interest deductions<\/strong><\/span><\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-670e460 elementor-widget elementor-widget-text-editor\" data-id=\"670e460\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h2><span style=\"font-size: 24pt;\">Summary:\n<\/span><\/h2>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4e53aab elementor-widget elementor-widget-text-editor\" data-id=\"4e53aab\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Tax evasion and concealment are serious crimes. Upon conviction, the maximum penalty is 3 years of imprisonment. Whether intentional or unintentional, under-reporting income is an illegal act of tax evasion.<\/p><p>Tax planning involves reporting all income and deducting all allowable expenses according to the law. Within the legal framework, it calculates the most favorable tax rate solution and ensures the minimum tax is paid. Therefore, both individuals and companies should follow professional tax filing advice to make full use of tax exemption policies and avoid inadvertently or carelessly violating Hong Kong&#8217;s tax laws.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-48d9317 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=\"48d9317\" data-element_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-558759a elementor-widget elementor-widget-text-editor\" data-id=\"558759a\" data-element_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, providing <strong>one-on-one tax filing services<\/strong>. Trust or Company Service Provider License No.: TC002940. If you have any questions regarding <strong>Property Tax<\/strong>, our professional customer service managers can provide a free preliminary <strong>tax filing<\/strong> inquiry.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-dae6367 elementor-widget elementor-widget-html\" data-id=\"dae6367\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t\t<iframe width=\"560\" height=\"420\" src=\"https:\/\/www.youtube.com\/embed\/6tOPoH_LS-U?si=2AIbGVcEWarSmjXW\" 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-bce5294 elementor-widget elementor-widget-text-editor\" data-id=\"bce5294\" data-element_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\/purchasing-property-via-a-company\/\"><strong><span style=\"color: #0000ff;\">[Companies Buying Property] Budget adjustments to ad valorem stamp duty | Benefits and process of buying and selling property under a company name<\/span><\/strong><\/a><\/p><p><a href=\"https:\/\/www.genacct.com\/en\/buying-property-via-shelf-company\/\"><span style=\"color: #0000ff;\"><strong>\u3010Buying Property via Shell Company\u3011Ready-made Company Property Transaction Process (Common Bank Mortgage Questions)<\/strong><\/span><\/a><\/p><p><a href=\"https:\/\/www.genacct.com\/en\/buying-property-via-a-ready-made-company\/\"><span style=\"color: #0000ff;\"><strong>5 Major Benefits of Buying Property via a Ready-made Company | New Company vs. Shell Company Property Transactions<\/strong><\/span><\/a><\/p><p><a href=\"https:\/\/www.genacct.com\/en\/register-company-tax-deduction\/\"><strong><span style=\"color: #0000ff;\">[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<\/span><\/strong><\/a><\/p>\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-a854159 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"a854159\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\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-7635654\" data-id=\"7635654\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\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-a3580a5 uae-toc-hide-heading elementor-widget elementor-widget-heading\" data-id=\"a3580a5\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<div class=\"elementor-heading-title elementor-size-default\">Questions regarding \"Property Tax\"<br \/>General Accounting provides free consultation<\/div>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b1a980c elementor-widget-divider--view-line elementor-invisible elementor-widget elementor-widget-divider\" data-id=\"b1a980c\" data-element_type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;zoomIn&quot;}\" 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-792986d elementor-button-align-stretch elementor-widget elementor-widget-form\" data-id=\"792986d\" data-element_type=\"widget\" data-settings=\"{&quot;step_next_label&quot;:&quot;Next&quot;,&quot;step_previous_label&quot;:&quot;Previous&quot;,&quot;button_width&quot;:&quot;100&quot;,&quot;step_type&quot;:&quot;number_text&quot;,&quot;step_icon_shape&quot;:&quot;circle&quot;}\" 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=\"25475\"\/>\n\t\t\t<input type=\"hidden\" name=\"form_id\" value=\"792986d\"\/>\n\t\t\t<input type=\"hidden\" name=\"referer_title\" value=\"[Property Tax] vs Company Investment Rental Income | Tax Evasion vs Tax Planning | Penalties for Underreporting Rental Income\" \/>\n\n\t\t\t\t\t\t\t<input type=\"hidden\" name=\"queried_id\" value=\"25475\"\/>\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()#&amp;+*-=.]+\" 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=\"Personal Tax Filing\" 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<\/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-7993b56 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7993b56\" data-element_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-dad63ce\" data-id=\"dad63ce\" data-element_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-4c71d35 elementor-widget elementor-widget-text-editor\" data-id=\"4c71d35\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h2>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-2409da6 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2409da6\" data-element_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-226a133\" data-id=\"226a133\" data-element_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-1b8753c elementor-cta--skin-classic elementor-animated-content elementor-bg-transform elementor-bg-transform-zoom-in elementor-widget elementor-widget-call-to-action\" data-id=\"1b8753c\" data-element_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- broken_link\" 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-2fc49b8\" data-id=\"2fc49b8\" data-element_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-5589b0a elementor-cta--skin-classic elementor-animated-content elementor-bg-transform elementor-bg-transform-zoom-in elementor-widget elementor-widget-call-to-action\" data-id=\"5589b0a\" data-element_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- broken_link\" 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-3bbf969\" data-id=\"3bbf969\" data-element_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-d6b99d7 elementor-cta--skin-classic elementor-animated-content elementor-bg-transform elementor-bg-transform-zoom-in elementor-widget elementor-widget-call-to-action\" data-id=\"d6b99d7\" data-element_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-b00ce68 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"b00ce68\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\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-3487fd2\" data-id=\"3487fd2\" data-element_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-624343c elementor-widget elementor-widget-heading\" data-id=\"624343c\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Questions regarding \"Property Tax Returns\"<br \/>General Accounting provides free consultation<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-050ccaa elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"050ccaa\" data-element_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 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When calculating the property tax payable, it is also necessary to consider whether the rental income is assessed under Personal Assessment or Property Tax. 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