Hi everyone,
I'm new to this forum as I'm desperated to understand my tax situation considering NO ONE (including tax specialists) have been able to really help me to get a clear vision of my situation in HK. I just moved here (Im from Chile) and from May 1st my contract starts, my situation is the following:
Base annual salary: HKD $1,534,020
Rental allowance my employee has agreed to spend for my housing: HKD $65.000 (monthly).
With this, I need to understand the following points:
1. Which is the best method for housing payment, and how does it taxates.
2. Considering I'm married, I understand there is a tax benefit for this?
3. I read there is a tex deduction of 75% for some reason at the end of the year which I dont understand why and how it works.
4. MPF, how does it works?
If anyone could help here in how would look a complete tax exercise it would be really really great.
Thanks in advance!
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