[Personal Tax Season] Hot Tax Deductions of the Year💡

As 2025 approaches, the personal tax season in Hong Kong is about to begin. Understanding the latest tax deductions can help you reduce your tax burden and maximize your refund.

So, what are the hot tax deductions this year? 

Hot Tax Deductions of the Year

1. Medical Expenses: Includes health insurance, medications, and treatment costs, all of which are deductible. 

2. Education Expenses: Tuition fees, books, and other related costs, especially for continuing education courses. 

3. Mortgage Interest: Interest on your home mortgage remains a major deduction. 

4. Charitable Donations: Donations to recognized charitable organizations are deductible. 

5. Retirement Contributions: Contributions to recognized retirement plans, such as MPF (Mandatory Provident Fund). 

6. Home Office Expenses: If you work from home, you can deduct part of your home office expenses. 

7. Green Living Deductions: Costs for purchasing eco-friendly products or installing energy-saving equipment. 

8. Child Education Expenses: Tuition and education-related costs for your children. 

9. Professional Training Expenses: Costs for training to enhance professional skills. 

10. Rent Deduction: Eligible rental expenses.

With Everpro’s professional guidance, you can better understand these tax deductions, ensuring a smooth and accurate tax filing process. 

Stay connected with Everpro for more insights and industry news.