Hong Kong TVC tax deduction calculator
Model tax-deductible voluntary MPF contributions, the shared QDAP deduction cap, progressive-versus-standard-rate salaries tax and long-term growth.
Published by GrowThenDraw Editorial Team · Editorial policy · Methodology & sources
The planned TVC fits inside the shared deduction cap without displacing the entered QDAP amount.
Projected retirement savings
Contribution cost today
Estimated tax saving versus after-tax cost.
Year-by-year projection
Contributions occur at year-end; return and fees are editable.
| Year | Contribution | Total new contributions | Without new contributions | With new contributions | Fee drag |
|---|---|---|---|---|---|
| 1 | HK$60,000 | HK$60,000 | HK$104,200 | HK$164,200 | HK$800 |
| 2 | HK$60,000 | HK$120,000 | HK$108,576 | HK$231,096 | HK$2,154 |
| 3 | HK$60,000 | HK$180,000 | HK$113,137 | HK$300,802 | HK$4,110 |
| 4 | HK$60,000 | HK$240,000 | HK$117,888 | HK$373,436 | HK$6,722 |
| 5 | HK$60,000 | HK$300,000 | HK$122,840 | HK$449,120 | HK$10,046 |
| 6 | HK$60,000 | HK$360,000 | HK$127,999 | HK$527,984 | HK$14,141 |
| 7 | HK$60,000 | HK$420,000 | HK$133,375 | HK$610,159 | HK$19,072 |
| 8 | HK$60,000 | HK$480,000 | HK$138,977 | HK$695,786 | HK$24,907 |
| 9 | HK$60,000 | HK$540,000 | HK$144,814 | HK$785,009 | HK$31,718 |
| 10 | HK$60,000 | HK$600,000 | HK$150,896 | HK$877,979 | HK$39,584 |
| 11 | HK$60,000 | HK$660,000 | HK$157,233 | HK$974,854 | HK$48,587 |
| 12 | HK$60,000 | HK$720,000 | HK$163,837 | HK$1,075,798 | HK$58,815 |
| 13 | HK$60,000 | HK$780,000 | HK$170,718 | HK$1,180,981 | HK$70,363 |
| 14 | HK$60,000 | HK$840,000 | HK$177,889 | HK$1,290,583 | HK$83,329 |
| 15 | HK$60,000 | HK$900,000 | HK$185,360 | HK$1,404,787 | HK$97,820 |
| 16 | HK$60,000 | HK$960,000 | HK$193,145 | HK$1,523,788 | HK$113,949 |
| 17 | HK$60,000 | HK$1,020,000 | HK$201,257 | HK$1,647,787 | HK$131,837 |
| 18 | HK$60,000 | HK$1,080,000 | HK$209,710 | HK$1,776,994 | HK$151,611 |
| 19 | HK$60,000 | HK$1,140,000 | HK$218,518 | HK$1,911,628 | HK$173,407 |
| 20 | HK$60,000 | HK$1,200,000 | HK$227,695 | HK$2,051,916 | HK$197,371 |
| 21 | HK$60,000 | HK$1,260,000 | HK$237,259 | HK$2,198,097 | HK$223,654 |
| 22 | HK$60,000 | HK$1,320,000 | HK$247,224 | HK$2,350,417 | HK$252,422 |
| 23 | HK$60,000 | HK$1,380,000 | HK$257,607 | HK$2,509,134 | HK$283,846 |
| 24 | HK$60,000 | HK$1,440,000 | HK$268,426 | HK$2,674,518 | HK$318,112 |
| 25 | HK$60,000 | HK$1,500,000 | HK$279,700 | HK$2,846,848 | HK$355,414 |
TVC receives priority inside the HK$60,000 cap
For 2026/27, TVC and qualifying deferred annuity policy premiums share a HK$60,000 deduction limit per taxpayer. Inland Revenue applies TVC first, then uses any remaining cap for qualifying annuity premiums.
The calculator therefore compares your tax with the QDAP deduction alone against your tax after TVC has taken priority inside the combined limit.
Both Hong Kong salaries-tax methods are tested
Hong Kong salaries tax is the lower of tax at progressive rates on net chargeable income or tax at the standard rates on net income before personal allowances. The engine calculates both after deductions and uses the lower amount.
Temporary tax rebates are excluded because they are one-off and may affect provisional and final assessments differently. Other allowances and deductions can be entered as combined values.
TVC money is retirement money
MPFA states that TVC balances are generally preserved until age 65 unless a statutory early-withdrawal ground applies. The projection is not a liquid-savings forecast and does not rank MPF schemes or funds.
Frequently asked questions
What is the Hong Kong TVC tax deduction limit?
The 2026/27 deduction limit is HK$60,000 per taxpayer, shared between tax-deductible voluntary MPF contributions and qualifying deferred annuity policy premiums.
Does TVC or QDAP use the shared cap first?
TVC is deducted first. Any remaining part of the HK$60,000 cap can then be used for qualifying deferred annuity premiums.
Are all voluntary MPF contributions tax deductible?
No. MPFA and Inland Revenue distinguish a qualifying TVC account from other voluntary MPF contributions.
When can TVC money be withdrawn?
MPFA says TVC contributions are generally preserved until age 65, apart from statutory grounds for early withdrawal.
Primary references checked 1 August 2026:
- MPFA: Tax Deductible Voluntary Contributions
- Inland Revenue: 2026/27 allowances, deductions and tax rates
- Inland Revenue: TVC and qualifying annuity deduction FAQ
- GrowThenDraw calculation methodology
Educational estimate using editable assumptions. Tax position, eligibility, investment performance and withdrawal treatment depend on personal circumstances. Not financial, investment, tax or legal advice.