TAX

Hello Everyone.......


I just need some advice being the most financially inept person on the planet!!!!


I moved to Hong kong last year and worked for 5 months of that year ONLY From July 09 to Jan 10.


I received my group certificate.


A little bird told me that you dont need to pay tax if you make under HKD200,000 in a financial year. Is this correct?????


Would just like to know. Also woudl yourecommend getting an accountatant????


Thank you..... I look forward to hearing from you all

lol... where did that little bird get his facts??? Just file your income tax to the IRD the IRD will decide if you need to pay or not... you don't need an accountatnt to that it's an easy job...Send your Income tax return to the IRD and you will received a reply from them if you need to pay or not... that's all.


Been told the same thing when in my first year here in Hk all was not true...what I did I filed my tax then the IRD sent me notice of payment.

Why bother going there when you can check online: http://www.ird.gov.hk/eng/welcome.htm

IRD does not give advise on enquiry counters.

Your friend may have given correct info but its all relative and depends on a case by case basis.

The rules also vary if you only spent less than 180 days in HK in one fiscal year.


the tax free allowance for individuals is 108000 not 200000. For couples its double. above this you get taxed on a sliding scale starting at 5%. If you go to the IRD website you can enter the info and do an online self assesment. This assesment does not bind you in anyway as there is no name / ID to be given. This also takes into account the rebates the IRD is giving which is now at HKD 6000 for the present fiscal year. So it may well be that on a 200k income the actual tax is only something like 6 to 8k of which you get 6k off (for this year only) .



The rebate was started during the recession 2 years ago and this may be the last freebie.