The salaries tax rate is the lower of either:

*
15% of "assessable income" after the deduction of allowances (raised to 16% in the 2003/2004 budget); or
* A progressive rate levied on "assessable income" after the deduction of allowances. These progressive rates are:
o Nil to HK$35,000 - 2%
o HK$35,000 to HK$70,000 – 8%
o HK$70,000 to HK$105,000 – 14%
o HK$105,000 upwards – 20%
chart applies after deductions of 25,000USD for married and 3,850USD per child