Tax Savings Calculator

Get an estimation of your tax savings in just a few steps!
 
 
Basic Tax Assessment Information
This tax savings calculator adopts Joint Assessment in making estimations if choosing “Both my spouse and I are taxpayers”.
HKD 132,000
Does not include the additional child allowance for the year of assessment in which each child is born and must meet all the other requirements for claiming child allowance.
Does not include additional allowance for dependent parents/grandparents (i.e. assuming not residing with you continuously throughout the year).
e.g. self-education expenses, home loan interest or approved charitable donations. For details on the requirements for claiming allowances and deductions, please refer to the Hong Kong Inland Revenue Department website.
 
Includes Qualifying Deferred Annuity Policy premium paid by you and your spouse if choosing “Both my spouse and I are taxpayers”.
 
HKD 0
The aggregate maximum tax deductible limit for “Tax Deductible MPF Voluntary Contributions” (TVC) plan and QDAP is HKD 60,000 per taxpayer during the year of assessment if choosing “Individual Taxpayer”; the aggregate maximum tax deductible limit is HKD 120,000 if married couples have taxable income during the year of assessment. This calculation does not include TVC.
Enter information about you and / or your family members:
Member 1
Member 1
PRUHealth VHIS VIP Plan covers the expenses of semi-private room stays in Asia (including Australia and New Zealand) and provides full cover for key medical expenses with no itemised benefit limit, up to an annual cover of HKD 12 million and a lifetime cover of HKD 56 million. It is guaranteed renewal for life. You can select annual deductible to suit your needs.
Tailor your plan to fit your personal needs. Annual deductible is the fixed portion of eligible medical expenses, in a policy year, that the policyholder must pay before the Company shall reimburse the remaining medical expenses for the designated plan.
 
Choose the room level to fit your personal needs.
 
If the eligible medical expenses of specified benefit items exceed the itemised limits of the PRUHealth FlexiChoice Medical Plan, PRUHealth Major will cover up to 80% of the excess, subject to its itemised and annual limits.
 
HKD 0
This is the first year's standard premium that is taken out as a standalone plan and is paid annually. This premium amount presented does not include additional premium (if any) and the premium levy imposed by Insurance Authority. It is for reference only and should not be deemed as the actual premium required to be paid. For details, please refer to the product brochure of relevant product.
This is the first year's standard premium that is taken out as a standalone plan and is paid annually. This premium amount presented does not include additional premium (if any) and the premium levy imposed by Insurance Authority. It is for reference only and should not be deemed as the actual premium required to be paid. For details, please refer to the product brochure of relevant product.
This is the first year's standard premium that is taken out as a standalone plan with PRUHealth Major and is paid annually. This premium amount presented does not include additional premium (if any) and the premium levy imposed by Insurance Authority. It is for reference only and should not be deemed as the actual premium required to be paid. For details, please refer to the product brochure of relevant product.
This is the first year's standard premium that is taken out as a standalone plan with PRUHealth Major and is paid annually. This premium amount presented does not include additional premium (if any) and the premium levy imposed by Insurance Authority. It is for reference only and should not be deemed as the actual premium required to be paid. For details, please refer to the product brochure of relevant product.
This is the first year's standard premium that is taken out as a standalone plan and is paid annually. This premium amount presented does not include additional premium (if any) and the premium levy imposed by Insurance Authority. It is for reference only and should not be deemed as the actual premium required to be paid. For details, please refer to the product brochure of relevant product.
This is the first year's standard premium that is taken out as a standalone plan with PRUHealth Major and is paid annually. This premium amount presented does not include additional premium (if any) and the premium levy imposed by Insurance Authority. It is for reference only and should not be deemed as the actual premium required to be paid. For details, please refer to the product brochure of relevant product.
This is the first year's standard premium that is taken out as a standalone plan with PRUHealth Major and is paid annually. This premium amount presented does not include additional premium (if any) and the premium levy imposed by Insurance Authority. It is for reference only and should not be deemed as the actual premium required to be paid. For details, please refer to the product brochure of relevant product.
This is the first year's standard premium that is taken out as a standalone plan and is paid annually. This premium amount presented does not include additional premium (if any) and the premium levy imposed by Insurance Authority. It is for reference only and should not be deemed as the actual premium required to be paid. For details, please refer to the product brochure of relevant product.
This is the first year's standard premium that is taken out as a standalone plan with PRUHealth Major and is paid annually. This premium amount presented does not include additional premium (if any) and the premium levy imposed by Insurance Authority. It is for reference only and should not be deemed as the actual premium required to be paid. For details, please refer to the product brochure of relevant product.

Specified relatives include your spouse and your children; parents, grandparents and siblings of yours or your spouse.
HKD 0
HKD 0
Total tax-deductible premium means the total amount that the taxpayer may claim for tax deductions for the premiums paid for the VHIS plans of the life assureds (including yourself, your spouse and your children; parents, grandparents and siblings of yours or your spouse) per year. The maximum premium for tax deduction is HKD 8,000 per life assured per year. For details of tax deduction eligibility, please refer to the detailed definitions in the Inland Revenue Ordinance (Cap. 112).

Result

 

Estimated original tax payable

HKD 0

You haven’t input your “Total Income for taxable year”, please “Edit” to calculate again

Estimated tax payable after purchase
of the above tax-deductible product(s)

HKD 0

Estimated tax saving

HKD 0
 
Disclaimer
  1. The calculations of this tax savings calculator are based on the information provided by the Inland Revenue Department of the Hong Kong Special Administrative Region (“IRD”) for the year of assessment 2020/21. All estimations and information provided shall be regarded as general reference only. The final and actual tax deductions and tax payable shall be determined by the IRD. This tax savings calculator does not collect or store any of the data entered.
  2. The calculations of this tax savings calculator do not consider any factors other than the parameters of based on your individual circumstances. The actual tax payable will be different from the estimated result. If you have any questions, please consult the IRD or your independent tax, legal and accounting consultants. The total amount of final tax deduction shall be determined by the IRD.
  3. The above estimated tax savings are calculated based on the information you entered. It is for your reference only and does not constitute tax advice. Prudential Hong Kong Limited ("Prudential" or "we") accepts no liability whatsoever for any loss or damage arising from your use or reliance on such information or content.
  4. Tax payable in this calculator is calculated at progressive rates on your net chargeable income or at standard rate on your net income, whichever is lower. The estimated results and all information are for reference only, please refer to the Hong Kong Inland Revenue Department website for details www.ird.gov.hk.
  5. We do not provide any tax, legal or accounting advice and consultation. If you have any questions, please consult the IRD or independent tax, legal and accounting consultants.
  6. The above calculated premium is for reference only and shall be subject to underwriting. Please refer to the proposal illustration for the exact premiums. Premium rates are not guaranteed and are yearly adjustable based on the gender and attained age of the life assured and plan type at the time of plan renewal. We will determine the relevant premium rates on a portfolio basis based on several factors, such as our claims and persistency experience, medical price inflation, projected future medical costs and any applicable changes in benefit.
  7. The above information is for reference only. It does not constitute a contract of insurance or an offer, invitation or recommendation to any person to enter into any contract of insurance (either investment or other decision). It shall not constitute nor should it be taken as a substitute for professional advice on purchasing insurance policies. For more details about our VHIS or QDAP insurance plans, please refer to relevant product brochures.
  8. The information shall not be construed as an offer to sell or solicitation to buy or provision of any insurance product outside Hong Kong. Prudential Hong Kong Limited does not offer or sell any insurance product in any jurisdictions outside Hong Kong in which such offering or sale of the insurance product is illegal under the laws of such jurisdictions.