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Old 15th Jun 2004, 13:12
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Squiddley
 
Join Date: Nov 1999
Location: HKG
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Tax

If it'll help you get a better idea, here's the Inland Revenue Department's own "Salary Tax Computation" web page

For the MPF box, I'd suggest a figure of 5% of your annual salary. I believe employers have to pay 5%, and employees can opt to "top up" an further 5% of earnings. Basically it improves the payout at the end of the line. I'm not that up on it though, as I opted to keep my contribution-free retirement scheme. (I'm nothing to do with CX/KA.)

Each child under 18 entitles you to HK$30K per annum deduction from gross earnings, as do "dependant parents not living with you". Property owners can deduct mortgage interest payments for up to 7 years, which was recently extended from 5. (Sorry, but again I can't recall exactly!) I've only claimed once, when rates were really high, but since they dropped so much, I'm biding my time.

There's no P.A.Y.E though you can opt to buy tax certifictaes, which earn interest and can be handled by the bank. They can arrange a standing order for a monthly purchase, then you take your tax bill to them and they fix it for you. Also, each year at tax time, banks offer loans of considerably lower interest to pay your tax for you. The amounts are usually very high, and the rates pretty low... depending only repayment schedules!

Medical

My kids were born under the G'ment system, as well as the related follow-up. Whilst there's no (well not much) faulting the standard of medical care, the service leaves MUCH to be desired and expect to wait! For maternity, if you can afford it or your Co. will cover you, go private!

If you need A&E out patient care, there's a flat fee of HK$100 for ID holding residents and HK$500 for others. Expect to wait! It took almost 6 hours to get my daughter's fractured elbow taken care of, and we were in the queue behind an old man who "woke up feeling dizzy and lethargic" (I read his sheet!) Apparently if you call 999 (and in a way waste resources) you get much faster treatment. HKG has a long way to go to improve this aspect of medical care.


Hope something's useful here
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