Posted by
Miama
7 yrs ago
Hi everyone !!
I would be very apreciate if you can help me and give your honest opinion:).
I was offered a job in HK by the company where I am already working in Spain.
It would be a transfer in the same company , for the same position with the local contract . I was offered at the beginning 300 .000 HKD but after offficsl letter was 280.000KHD.
Could you tell me if referring to tax shall I calculate 15 or 17%
And do you thing if this salary like 23.000. HKD is it possible to live with normal conditions taking into account that if it is about accommodation. Would be definitely sharing a flat .
I am analyzing everything but I would like to know if this transfer and change is really worth .
Thank you
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gdep
7 yrs ago
not sure what your background or current levels of income are..
Tax is definitely a huge advantage here. You will end up paying only 10% after personal deductions allowed by the tax department.
cost of living is high.. lets assume you take 22K home after MPF (income not taxed at source). You might spend 7K on shared flat , utilities etc .. that leaves 15K .. and depending on your life style could spend 5-10K of you salary on living expenses .. you might be spending ~1K Euros per month max..
fights back home are quite cheap now (not a worry).. you can add additional income by teaching spanish etc.. it earns you about 30-40 euros per hour..
hope this is helpful..
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Thank you for reply . My income now is like 11500 HKD Netto per month.
I will be working in tourism field, office job
The salary they offered me is this and 10-30% bonus
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gdep
7 yrs ago
looks like you can save potentially that much per month here, saving prudently.
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If you are single and your annual gross salary HK$280,000, you will pay HK$12,820 = 4.58% revenue tax per year (or HK$ 1,068 per month), which leaves you with HK$22,250 per month
Assuming a reasonably expat life style, you will spend c. HK$7,500 for food, transportation, mobile phone, internet and a couple of beers with friends during the week-end. That leaves HK$ 14,750 in your pocket to pay the rent. Considering the cost of accomodation, I think - as @GDEP mentioned earlier - that a shared flat at 6k-7k per month is probably the best option and end of the month you will have c. 7-8k that you can save or otherwise spend the way you want... That's not unreasonable, and quite correct if you really get that bonus.. but as we all know, promises from HR are worth nothing (unless this minimum 10% bonus is mentioned in writing on your contract)
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Thank you very much for all the comments !
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