Allowances	2006/2007 HK$
Basic Allowance	100,000
Married Person's Allowance	200,000
Child Allowance - each (max. 9 children)	40,000
Dependent Brother / Sister Allowance - each	30,000
Dependent Parent Allowance - each (aged 60+)	30,000
Additional Dependent Parent Allowance - each (aged 60+)	30,000
Dependent Parent Allowance – each (aged 55-59)	15,000
Additional Dependent Parent Allowance - each (aged 55-59)	15,000
Single Parent Allowance	100,000
Disabled Dependant Allowance - each	60,000

Concessionary deductions: allow actual amount subject to the following limits.

	HK$
Self-education expenses	40,000
Elderly residential care expenses	60,000
Home loan interest	100,000
Contributions to mandatory provident fund	12,000

Net Chargeable Income = Total Income - Deductions - Allowances

Tax rates on various bands of net chargeable Income :

Income bands:	HK$
	Net Chargeable Income	Rate	Tax
On the First	30,000	2%	600
On the Next	30,000 60,000	7%	2,100 2,700
On the Next	30,000 90,000	13%	3,900 6,600
Remainder		19%

Tax payable is restricted to: (Total income - Deductions) * Standard rate @16%