高度機密
82.
Thirdly and consequently, as direct tax rates were raised only a year ago it is imprudent to consider another increase now. It seems to me to be important yet again to acknowledge that enterprise and hard work are stimulated by low direct taxation and by confidence that it will remain low.
83.
Fourthly, it is clear that Hong Kong is not alone in recognising the trend towards, though not of course total dedication to, indirect taxation. This offers alternative to increased direct taxation.
84.
a persuasive
Fifthly, taxation of non-essentials fits in with this trend, though subjectivity is obviously a problem. There are also pragmatic issues to be considered.
85.
This is neither the place nor the time for a contentious, philosophical discourse on taxation. I ask Members only to believe that the Administration has sought a
sought a reasoned and balanced approach to the budgetary deficit that confronts Obviously there will be scope for debate. But I trust at least that our motivation is patent.
us.
Personal Taxation
86.
When I presented my last budget I undertook to reconsider this year the salaries tax
tax thresholds (43). Having done so I have four concessions to offer in the area of personal taxation.
87.
I propose
firstly that
that the additional
be increased from $15,000
married allowance
to $17,000, thus
increasing the total personal allowances for a
married couple to $58,000;
(43) 1984 B.S. paragraph 126. See also paragraph 18 of the winding up speech.
G.F. 316
HLSA高度機密