Q：
|
How do I lodge an application for holding over of provisional property tax?
|
A：
|
Same as application for holding over of provision profits tax and salaries tax. You must lodge your application for holding over in writing as well. And the relevant form you may download from the website of the Hong Kong Inland Revenue Department (“IRD”).
|
Q：
|
What are the grounds for the application for holding over of provisional property tax?
|
A：
|
You may apply for holding over of your provisional property tax for a year of assessment based on one of the following grounds:
-
Your assessable value for that year of assessment is, or is likely to be, less than 90% of the assessable value for the year preceding that year of assessment, or of the sum estimated by IRD of which you are liable to pay provisional property tax;
-
You have ceased, or will cease before the end of the year of assessment, to be an owner of property, and the cessation of ownership will result in reduction of the assessable value for the year preceding that year of assessment;
-
You have elected to be assessed under Personal Assessment for that year of assessment and the Personal Assessment is likely to reduce your liability to tax; or
-
You have objected to your property tax assessment for the year preceding that year of assessment.
|
Q：
|
Is the time limit for the application for holding over of provisional property tax different from profits tax and salaries tax?
|
A：
|
No, they are the same. You must still lodge an application not later than 28 days before the due date for payment of the provisional tax or 14 days after the date of issue of the notice for payment of provisional tax, whichever is the later.
|
Q：
|
How do I know if my application for holding over of provisional property tax has been approved?
|
|
A：
|
After considering your application for holdover of provisional property tax, IRD will issue a notice stating their agreement to discharge/ hold over part of the provisional property tax.
|
Q：
|
Is there any supporting document that I must submit together with the letter of application for holding over of provisional property tax?
|
|
A：
|
If your ground for holding over are that you have ceased or will before the end of the year of assessment for which provisional tax was charged cease to be an owner of a property, then full particulars of the cessation of ownership and the rental received and receivable should be furnished in support of that application.
|
FAQ
