News Hong Kong Property & Finance

Taxation in Hong Kong

ORIGINAL POST
Posted by trevlin 12 yrs ago
Having recently arrived in Hong Kong I would like to know if I will be entitled to the full $120,000 basic allowance deduction in respect to my tax liability, or will I receive only a proportion as in 7/12 th's as I received my first salary in September.

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COMMENTS
gandrewwork 12 yrs ago
They usually don't tax you for the first year. Then when you're about 1 year and a half in, tax you for two. Be ready. Your company accountant should be able to explain it to you for the cost of a lai chai!


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Beermoney 12 yrs ago
You do get taxed on your 1st year of earning but you pay it until later. I arrived Oct 07, did the return in July 08, got the assessment in Oct 08 and paid first tax in Jan 09 and second payment April 09. On my first assessment I did get the full years tax allowance (back then 100K)

I just checked the document to check the amount.

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PSMaverick 12 yrs ago
I believe you can avail the full allowance for the year. Its like any HK person starting to work for the first time..

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