Part 11 Qualifying Annuity Premiums and Tax Deductible MPF Voluntary Contributions
Qualifying annuity premiums and tax deductible MPF
voluntary contributions (TVC) are deductible under
Salaries Tax and Personal Assessment. The deduction is
applicable to the year of assessment 2019/20 and
after. (boxes [139], [140], [141] & [142] of
paper return)
Eligibility for deduction
(a)
Qualifying Annuity Premiums: The policy holder of
a Qualifying Deferred Annuity Policy must be
yourself and / or your spouse. The qualifying
annuity premiums must be paid by you and / or your
spouse (not living apart). The annuitant of the
policy must be yourself and / or your spouse
(being your spouse at any time during the year of
assessment). The annuitant must be a HKID Card
holder during the relevant year of
assessment.
(b)
TVC: TVC is a type of contribution under the MPF
system. To be eligible for deduction, you must be
a TVC account holder and only contributions made
to your TVC account are deductible.
Other types of MPF voluntary contributions are
not deductible.
You may claim deduction for qualifying annuity
premiums paid for your spouse, but premiums claimed in
your spouse’s return should be excluded.
If you claim deductions in respect of both qualifying
annuity premiums and TVC in a year of assessment, TVC
are to be firstly allowed and qualifying annuity
premiums are to be secondly allowed by the
Department.
The deductible amount shall not exceed the aggregate
of qualifying annuity premiums and TVC paid during the
year of assessment or the specified maximum deduction,
whichever is lower.
The aggregate amount of boxes [140], [141] and [142]
of
paper return
shall not exceed the specified maximum deduction
prescribed in the Inland Revenue Ordinance.
(May 2026)