Hong Kong to expand tax allowances for parents amid low birth rate – reports

Hong Kong to expand tax allowances for parents amid low birth rate – reports

Hong Kong plans to expand tax allowances for parents with newborns to encourage more couples to have children amid the city’s low birth rate. A newborn baby. File photo: Kyle Lam/HKFP. Parents currently receive a HK$130,000 tax allowance for every child, with the amount doubled in the year of the child’s birth, meaning they receive an allowance of HK$260,000 in the child’s first year. The Hong Kong government will extend the double allowance fro…