Joke Collection Website - Bulletin headlines - Does Hong Kong law stipulate that donating to a school must use your own name?
Does Hong Kong law stipulate that donating to a school must use your own name?
In Hong Kong, donations should be voluntary. There is no legal restriction on the name of the donor or the amount of donation, but the donation must be legal.
You can use your real name ; Anonymous; In the name of the company or the name of another person.
But one thing you must know is that the Hong Kong government has set rules for donations from [recognized charitable organizations]: the actual amount of income under salaries tax and the amount of profits tax assessable Donate to a tax-exempted institution after deducting tax profits or total personal assessment income
If the school you donate to is a [charitable organization] recognized by the Hong Kong government, you can donate to each school using your real name Get the [Donation Receipt/Invoice], and then apply for tax deduction from the Hong Kong Government's [Inland Revenue Department].
However, not all donations to charitable organizations that are exempt from tax can be claimed. The following are examples of non-deductible deductions:
-Purchases of lottery tickets
-Purchases of tickets for movies or charity galas
- Payment for the purchase of a cemetery
- Payment for booking a sacrificial venue for the chanting ceremony
- Payment for the purchase of goods at a charity sale
- Donations placed in the offering bag during Sunday services (donations may be deducted if the taxpayer can submit a receipt issued by the church concerned (which must be a charity exempt from tax)).
Amount available for deduction
The total amount of approved donations to be applied for deduction must be no less than $100. The amount of deduction shall not exceed 35% of your income for that year less deductible expenses and depreciation allowances or assessable profits. If you have more than one source of income and choose to be assessed under personal assessment, and your total authorized charitable donations are not deductible under one of the tax heads (such as profits tax), the remaining amount can be deducted under personal assessment. Claim deduction under income assessment.
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