TNAG-1725-FCO40-2438-Minutes-and-Hansards-of-the-Legislative-Council-of-Hong-Kong-1988 — Page 53

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In debating my budgeti proposals lastvyean, a number of Members urged that separate taxation should be dintroduced for working wives. In my speech concluding the debateiconpilast up year's budget, I explained why I did not consider that separate ар

taxation was appropriate (45). Since that time there has been continued public debate on this subject; I am also aware of the

trend in some other tax administrations in the direction of

separate taxation. In all the circumstances, I am now prepared

to consider further how separate taxation for working wives

might best be introduced..

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93.

I must warn, however, that there

are a number of

difficult questions to be resolved not the least of which is the

question of transferability of allowances between spouses. This is a complex subject with many options to be considered if we

are to ensure broadly equitable treatment. It would therefore

not be feasible to introduce separate taxation overnight.

Because of the difficulties involved

involved in implementing separate

taxation, and so that some benefit can be enjoyed now, I propose

to introduce in 1988-89 an annual allowance of up to $15,000 for

working wives. This will cost a further $240 million in 1988-89, and $340 million in a full year. As this concession

will be introduced with effect from the year of assessment

commencing 1 April 1988, the first occasion on which it will apply will be to provisional and final salaries tax assessments

for 1988-89, and also to 1988-89 personal assessments.

(45) Speech concluding the Debate on the Second Reading of the Appropriation

Bill, 1987, paragraphs 29-36.

le (45)

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/94. Examples ...