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Appendix
Monthly Income and Asset Limits of the Household
for the WITS Scheme
Application for Subsidy from April 2011 to February 2012 |
Household Size |
Monthly
Household
Income Limit |
Effective
Income
Level@ |
Monthly
Household
Asset Limit＊ |
1 person |
$6,500 |
$6,842 |
$44,000 |
2 persons |
$12,000 |
$12,631 |
$60,000 |
3 persons |
$13,000 |
$13,684 |
$90,000 |
4 persons |
$14,000 |
$14,736 |
$120,000 |
5 persons |
$14,500 |
$15,263 |
$150,000 |
6 persons or above |
$16,000 |
$16,842 |
$180,000 |
@ |
Under the WITS Scheme, “income” does not include employee’s mandatory contribution to a Mandatory Provident Fund (MPF) Scheme (i.e. 5% of employees’ salary). “Effective income level” refers to the household income before deducting mandatory employees’ MPF contribution. |
| ＊ |
The asset limit is increased by $35,000 for each elderly applicant or household member aged 60 or above. |
Application for Subsidy from March 2012 onwards |
Household Size |
The New
Monthly
Household
Income Limit |
The New
Effective
Income
Level@ |
The New
Monthly
Household
Asset Limit＊ |
1 person |
$7,300 |
$7,684 |
$72,000 |
2 persons |
$13,400 |
$14,105 |
$99,000 |
3 persons |
$14,800 |
$15,578 |
$148,500 |
4 persons |
$16,400 |
$17,263 |
$198,000 |
5 persons |
$16,700 |
$17,578 |
$198,000 |
6 persons or above |
$18,600 |
$19,578 |
$198,000 |
@ |
Under the WITS Scheme, “income” does not include employee’s mandatory contribution to a Mandatory Provident Fund (MPF) Scheme (i.e. 5% of employees’ salary). “Effective income level” refers to the household income before deducting mandatory employees’ MPF contribution. |
| ＊ |
The asset limit is increased by $35,000 for each elderly applicant or household member aged 60 or above. |
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Household
Income |
= |
Earnings from employment1 of all household members,
excluding Mandatory Provident Fund contributions
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+ |
Other income2 of all household members,
excluding financial assistance provided by the Government3, and payment from the “Scheme $6,000” and the Community Care Fund’s “Allowance for New Arrivals” |
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Household
Asset |
= |
Assets of all household members, both within and outside Hong Kong e.g. bank deposits (including time deposits), cash savings, investment (e.g. stocks, funds, bonds, warrants and shares), cash value of insurance policies, vehicles (outstanding mortgage loan deductible), non-self-occupied properties (outstanding mortgage loan deductible), transferrable vehicle licences, loans to others, assets held in trust by others and other readily realisable assets and valuables,
excluding balance in the Mandatory Provident Fund account and outstanding student financial loan, etc. |
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| Salaries shown on bank statement/passbook will be discounted from household asset calculation of the same month. |
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| Notes： |
| 1 |
Include wages defined in the Employment Ordinance (e.g. salary, allowances, commission, overtime pay, tips and service charges, etc.), profit from business and fees received for services rende#c30000 by self-employed persons, etc. |
| 2 |
e.g. monthly pension, rent collected, contributions from relatives/friends, etc. |
| 3 |
e.g. Comprehensive Social Security Assistance Scheme of the Social Welfare Department |
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