The 2020-2021 Budget has been published today. Other than the most concerned HK$10,000 cash allowance, a series of relief measures to “Support Enterprises and Safeguard Jobs” are worthwhile for all enterprises to note, including:

1.      introducing a concessionary low-interest loan under the SME Financing Guarantee Scheme, under which 100% guarantee will be provided by the Government.  The application period will last for six months;

2.      reducing profits tax for the year of assessment 2019/20 by 100 per cent, subject to a ceiling of $20,000;

3.      waiving rates for non-domestic properties for four quarters of 2020-21, subject to a ceiling of $5,000 per quarter in the first two quarters and a ceiling of $1,500 per quarter in the remaining two quarters for each rateable non-domestic property;

4.      waiving the business registration fees for 2020-21;

5.      waiving the registration fees for all annual returns (except for late delivery) for two years;

6.      providing a subsidy to each eligible non-domestic household accounts for four extra months to cover 75 per cent of their monthly billed electricity charges, subject to a monthly cap of $5,000 per account;

7.      waiving 75 per cent of water and sewage charges payable by non-domestic households for four extra months, subject to a monthly cap of $20,000 and $12,500 respectively per household;

8.      providing a new round of rental subsidy for six months to local recycling enterprises;

9.      reducing rental by 50 per cent for another six months for eligible tenants of government properties, government land and EcoPark;

10.    reducing rental and fees by 50 per cent for another six months  for eligible operators of properties covered by short-term waivers;

11.    providing hirers of civic centres under the Leisure and Cultural Services Department (LCSD) with a 50 per cent reduction of hire charges for another six months; and

12.    offering another six months of fees and rent reduction for cruise lines and existing tenants of the Cruise Terminal.