income tax question? how much net pay would u get?!!

if my salary is 500k a year, what is the estimate net income ? any idea?

that sounds amazing, the income tax s much less than wat i pay in australia, :)

Hi Adickt


I think I saw another thread that you are just arriving in HK. Be aware that in your first year's tax demand you will get pinged for tax for that year just ended and advance tax for the second year. The IRD work on the assumption that you will get paid the same in year two as year one. So the tax bill is a double whammy (and you need to save or set aside accordingly).


From then on each year the tax bill will be the "true up" (or down) amount for the year just passed and then the advance tax for the next year (so basically just one years tax).


The first year tax bill tends to catch people out. Since you are arriving now and you will only have done a month of this current tax year it shouldn't be too bad for you. Your first return should be in May, the demand should arrive around Sept/Oct with payments due probably in Dec (75%) and March (25%).


Enjoy the tax rate here (it's good) but it is sort of made up for by the cost of rental accomodation! :-(

here's the link to the tax calculator


http://www.gov.hk/en/residents/taxes/etax/services/tax_computation.htm

Hi all,


Could you please help me understand this.

If the salary they are offering me is 384.000HKD a year and I`m single, no children... what would be my net income?


Would it be 384.000-15%?? =326.400 (standard tax rate?)


or 384.000-120.000=264.000HKD (progressive tax rate?


thanks