This informative article addresses qualifications for write-offs, circumstances under which you can claim, exactly how deductions can maried people, committed limit on revoking the claim, plus the brand of supporting documents you’ll want to hold .
Qualification for write-offs
The HLI you pay was allowable out of your net assessable earnings under wages income tax or from your complete money under private examination. Anyone whose income try chargeable to income tax at common rate is also qualified for a deduction.
Every one of the following conditions ought to be happy before a deduction is issued:
you are the manager on the dwelling (either as a single manager, a joint tenant or a tenant in accordance) and possession is through mention of the authorized proprietor on the belongings as found for the files in the Land Registry;
the home are another rateable unit underneath the rank Ordinance: that will be, really positioned in Hong-Kong;
the home is used completely or to some extent as your place of property around of evaluation (when the dwelling is partially utilized since host to residency, the total amount of interest deductible is going to be restricted accordingly);