Mr.

Individual
Property tax computation
Year of Assessment 2014/15
File No.:
Reference

AV

HK$
Rental received and receivables
Lump sum premium
Fees received by owner
Bad debts recovered

HK$

A
B
C
D
E

AD

Less: Allowable deductions:

rates paid by owner
bad debts (Irrecoverable)

F
G
(

H
J

R
S

Assessable value after deductions

SD

Less: Statutory deductions @20% on J

Net Assessable Value (NAV)

CALTAX Property tax (S x 15%)

Please note that the calculation of provisional tax is not included here

Joey
Property Tax Computation
Years of Assessment 2011/12 to 2014/15
File No.:

Y/A

2011/12
2012/13
2013/14
2014/15

Rent
HK$
24,000
24,000
24,000
24,000

Premium
HK$

Assessable
Value

6,000
6,000
6,000

30,000
30,000
30,000
24,000

Vivian
Property Tax Computation - Property C
Year of Assessment 2013/14
File No.:

HK$
Assessable value

HK$
180,000

Less: rates paid by Vivian

4,000
176,000

Less: Statutory deduction @20%

35,200

NAV

140,800

Property Tax @15%

21,120

Note:
Even though Eric did not pay three months rent in y/a 2013/14, Vivian can't get a deduction of unpaid rent
because it has not been proved irrecoverable.

Vivian
Property Tax Computation - Property C
Year of Assessment 2014/2015
File No.:

HK$
Assessable value (April & May 2014 @15,000 + June 2014 to March 2015 @14,000)
Less: irrecoverable rent (January to May 2014)

HK$
170,000
75,000
95,000

Less: rates paid by Vivian

4,500
90,500

Less: Statutory deduction @20%

18,100

NAV

72,400

Property Tax @15%

10,860

uction of unpaid rent