Hong Kong Ordinances

INLAND REVENUE ORDINANCE - SECT 26G

Contributions to recognized retirement schemes

(1) Subject to the other provisions of this section, where a person pays any
contributions to a recognized retirement scheme during any year 
of assessment, a deduction in respect of the contributions shall be allowable
to that person for that year of assessment.

(2) A deduction shall not be allowable to a person under subsection

(1) for any year of assessment-

   (a)  in respect of any sum which is allowable as a deduction under Part IV;

   (b)  in excess of the amount specified in Schedule 3B in relation to that
        year of assessment.

(3) Subject to subsection (2), the amount of the deduction allowable under
this section in respect of any contributions to a
recognized retirement scheme, in relation to a person, shall be-

   (a)  in the case of a recognized occupational retirement scheme-

        (i)    the amount of the contributions paid by the person as an
               employee to the scheme; or

        (ii)   the amount of the mandatory contributions that the person would
               have been required to pay as an employee if at all times whilst
               an employee during the year of assessment in question he had
               contributed as a participant in a
               mandatory provident fund scheme. whichever is of the lesser
               amount;

   (b)  in the case of a mandatory provident fund scheme, the amount of the
        mandatory contributions paid by the person as an employee. (Part IVA
        added 31 of 1998 s. 12)
        ___________________________________________________________________________
        _____ Note: Section 26G applies in relation to the year of assessment
        commencing on 1 April 2000 and to all subsequent years of assessment.
        (31 of 1998 s. 2(2); L.N. 175 of 2000)