What does it include? Groceries Utility charges Public transport Medical services Education Newspapers & magazines Restaurant meals Clothing Electrical appliances Home furnishings Goods brought in by Hong Kong travellers worth more than $3,000 Imported cargo worth more than $4,000 What is exempt? Purchases from non-GST registered businesses Rent and purchase of residential premises Exports and transshipments Financial services, including bank accounts, bank deposits, stored value cards, currency, mandatory provident funds and collective investment schemes, bills of exchange, loans and mortgages, money exchanges, certificates of deposit, insurance, financial guarantees, trade finance, securities, futures, derivatives, underwriting, precious metals, refining of precious metals What relief will there be? One-off assistance to help businesses meet GST compliance costs Scrapping of 3 per cent hotel accommodation tax Reduction in motor vehicle first registration tax and duties on liquor, petrol, diesel, aircraft fuel and methyl alcohol CSSA recipients to be fully compensated for GST Most households to receive $500 water and sewage credit and $3,000 government rates credit annually; extra $2,000 cash for low-income households Possible cuts of up to 5 per cent in salaries tax and/or profits tax Border refunds for tourists for purchases above $1,500
