| Part 10 |
Qualifying Annuity Premiums and Tax Deductible MPF Voluntary Contributions |
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Qualifying annuity premiums and tax deductible MPF voluntary contributions (TVC) are |
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deductible under Salaries Tax and Personal
Assessment. The deduction is applicable to
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the year of assessment 2019/20 and after. (boxes  ,  ,
 &  of paper return) |
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Eligibility for deduction |
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| (a) |
Qualifying Annuity Premiums: The policy holder of a Qualifying Deferred Annuity |
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Policy must be yourself and / or your spouse. The qualifying annuity premiums must |
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be paid by you and / or your spouse (not living apart). The annuitant of the policy must |
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be yourself and / or your spouse (being your spouse at any time during the year of |
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assessment). The annuitant must be a HKID Card holder during the relevant year of |
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assessment. |
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| (b) |
TVC: TVC is a type of contribution under the MPF system. To be eligible for deduction,
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you must be a TVC account holder and only contributions made to your TVC account |
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are deductible. Other types of MPF voluntary contributions are not deductible. |
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You may claim deduction for qualifying annuity premiums paid for your spouse, |
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but premiums claimed in your spouse’s return should be excluded. |
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If you claim deductions in respect of both qualifying annuity premiums and TVC in a year |
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of assessment, TVC are to be firstly allowed and qualifying annuity premiums are to be secondly allowed by the Department. |
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The deductible amount shall not exceed the aggregate of qualifying annuity premiums |
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and TVC paid during the year of assessment or the specified maximum deduction, whichever is lower. |
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The aggregate amount of boxes , and of paper return shall not exceed |
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the specified maximum deduction prescribed in the Inland Revenue Ordinance. |
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