Enhance Your HK Retirement Savings and Qualify for a Tax Break

by | Jan 30, 2024

Act now to apply for a Tax Deductible Voluntary Contributions (TVC) MPF and qualify for a taxc break of up to HKD 10,200.

MPF: Enhance Your HK Retirement Savings and Qualify for a Tax Break

Applications close in mid-March, so act now to qualify!

I’d like to share an opportunity that could significantly benefit your financial planning, especially as we approach the end of the 2023/24 tax year.

You probably know Hong Kong’s Mandatory Provident Fund (MPF).  However, the Tax Deductible Voluntary Contributions (TVC) is a less commonly known MPF option. It’s worth looking at because it is structured to allow you to save more for retirement while reducing your tax liability.

The TVC contributions are tax-deductible, potentially saving you up to HKD 10,200 on your tax bill. It’s a straightforward and smart way to enhance your retirement savings.

I highly recommend considering this option as the 2023/24 tax year deadline is fast approaching. To take advantage of this opportunity to boost your retirement savings and secure the tax break, please contact me as soon as possible to begin your application.

Don’t miss this chance to maximise the benefits of your MPF contributions. Feel free to contact us if you have any questions or need assistance.

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