Government welcomes passage of Inland Revenue (Amendment) (Tax Concessions, Concessionary Deductions and Allowances) Bill 2026
The Government welcomed the passage of the Inland Revenue (Amendment) (Tax Concessions, Concessionary Deductions and Allowances) Bill 2026 by the Legislative Council today (May 13) to implement the concessionary tax measures proposed in the 2025 Policy Address and the 2026-27 Budget.
A Government spokesperson said, "The measures include increasing the basic allowance, married person's allowance, single parent allowance, basic and additional child allowance, basic and additional allowance for dependent parent/grandparent and the deduction ceiling for elderly residential care expenses, as well as extending the claim period for additional child allowance for newborns starting from the year of assessment 2026/27. About 2.09 million taxpayers will benefit, reducing tax revenue by about $5.51 billion per year.
"The measures also include a one-off 100 per cent reduction of salaries tax, tax under personal assessment and profits tax for the year of assessment 2025/26, subject to a ceiling of $3,000 per case. It is expected to benefit about 2.12 million taxpayers and 170 000 businesses, with about 24 per cent of the taxpayers and 18 per cent of the businesses not needing to pay tax for the year of assessment 2025/26. The government revenue will be reduced by about $5.78 billion."
The above legislation as passed will be gazetted on May 22. The one-off tax concessions, increased allowances and deduction ceilings will be reflected in taxpayers' final tax payable for the year of assessment 2025/26 and the tax payable for the year of assessment 2026/27 respectively.
The Central Government Offices, Photo source: reference image
Special traffic arrangements for half marathon
The Police announced today (November 13) that special traffic arrangements will be implemented from November 14 to 15 to facilitate the holding of Hong Kong-Zhuhai-Macao Bridge (HZMB) (Hong Kong Section) Half Marathon 2026. Members of the public are urged to plan their journeys in advance.
The following temporary traffic arrangements will be implemented on the section of HZMB Hong Kong Link Road (HKLR) between the HZMB Hong Kong Port (HKP) and the Hong Kong Special Administrative Region Boundary, subject to the actual finishing time of the event and reopening of the roads for vehicle use:
Phase I (From 4pm to about 11pm on November 14)
The left and middle lanes of the above section of HZMB HKLR (Hong Kong bound) will be closed, motorists heading for Hong Kong have to use the right lane of the above road section.
Phase II (From about 11pm on November 14 to about 2pm on November 15)
All traffic lanes of the above section of HZMB HKLR (Zhuhai and Macao bound), the middle lane of the above section of HZMB HKLR (Hong Kong bound), and the slip roads leading to/from San Shek Wan Turnaround Facility will be closed.
In connection with the road closures as mentioned above, the above section of HZMB HKLR (original Hong Kong bound) will be converted into two-way traffic, motorists heading for Zhuhai and Macao will be diverted to use the original Hong Kong bound road section.
Phase III (From about 2pm to about 4.30pm on November 15)
The left and middle lanes of the above section of HZMB HKLR (Hong Kong bound) will be closed, motorists heading for Hong Kong have to use the right lane of the above road section.
A section of outbound goods vehicles (GV) lanes at the HZMB HKP after the GV Clearance Plaza will be temporarily closed from about 9pm on November 14 to about 3pm on November 15.
Actual implementation of traffic arrangements will be made depending on traffic and crowd conditions in the areas. Members of the public are advised to exercise patience and tolerance and take heed of instructions of police officers on site.
Source: AI-found images
