On 27 February 2019, the Financial Secretary has presented the 2019-20 budget to the Legislative Council. The Budget measures includes the following:

-Reducing profits tax by 75% for 2018/19, subject to a ceiling of HKD20,000, effectively giving companies with profits tax payable of HKD26,667 or more a HKD20,000 rebate.

-Waiving business registration fees for 2019/20;

-Providing a one-off grant of HKD2,500 to each student in need to support learning;

-Paying the examination fees for school candidates sitting for the 2020 Hong Kong Diploma of Secondary Education Examination;

-Providing an extra one month allowance to recipients of CSSA, Old Age Allowance, Old Age Living Allowance, Disability Allowance, Low-income Working Family Allowance and Work Incentive Transport Subsidy; and

-Providing a one-off additional HKD1,000 vouchers to the elderly eligible for the Elderly Health Care Voucher Scheme. Increasing the accumulated limit of vouchers from HKD5,000 to HKD8,000.

-The Budget also includes following concessionary measures under the SME Financing Guarantee Scheme:

  • Reducing the guarantee fee rates by 50%;
  • Increasing maximum loan amount to HKD15 million;
  • Lengthening maximum loan guarantee period to 7 years;
  • Extending the application period of the special concessionary measures under the SME Financing Guarantee Scheme to 30 June 2020; and
  • Regularizing the Technology Voucher Programme and doubling the funding ceiling for each enterprise from HKD200,000 to HKD400,000.