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FS announces Caring and Sharing Scheme
     The Financial Secretary, Mr Paul Chan, today (March 23) announced the Caring and Sharing Scheme (the Scheme) of the 2018-19 Budget. Under the Scheme, an eligible person who does not pay salaries tax will receive $4,000, and one who receives tax concession will get the difference between $4,000 and the amount of tax concession received.
     Persons benefiting from the new Scheme will include anyone who:
(a) is a Hong Kong identity card holder ordinarily resident in Hong Kong and attains the age of 18 on or before December 31, 2018;
(b) does not own any property in Hong Kong;
(c) does not receive Comprehensive Social Security Assistance payments, Old Age Allowance, Old Age Living Allowance or Disability Allowance; and
(d) either:
(i) declares that he or she does not pay tax for 2017-18 in Hong Kong; or
(ii) presents a tax payment slip which shows that the tax concession received for 2017-18 falls below $4,000.
     Under the Scheme, people who pay no tax and live in self-owned domestic properties that benefit less than $4,000 in rates concession, or those who pay tax but benefit less than $4,000 through tax and rates concession in aggregate, can also apply for the balance.
     Meanwhile, the Budget has proposed to provide extra allowance, which is equivalent to two months of such allowance, to social security recipients. Taking into account the new arrangements of the Scheme, recipients of such allowance will receive the difference between $4,000 and the extra payments received.
     The Working Family Allowance Office has been commissioned to implement the Scheme. Details regarding the application procedures will be announced by the Office as soon as possible.
Ends/Friday, March 23, 2018
Issued at HKT 19:58
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