Rice bowl licker
in addition to your bring home pay CX pays a non-taxable housing allowance for officers based in hong kong,
Wrong. If you take the rental assistance as cash or have the company pay off your mortgage in Hong Kong it is 100% taxable at the highest marginal tax rate of 19%. If you take the rental assistance and register the rental property with the company you pay additional tax that is equivalent to 10% of your gross income at the highest marginal rate, i.e. 19%.
At CX, they are setting aside 15% of your monthly earnings into either a provident retirement fund or pilots can just elect to take the money upfront for investing in a retirement account.
Only those on a base will receive an additional 15.5% of their gross income in cash for them to invest for retirement. If you are based in Hong Kong it will be invested in the company’s provident fund. You will have no choice as to who manages it.
As for you previous post:
If highly volatile fx currency markets are taken out of your 'bring home pay' equation, CX looks like a fantastic place to work. HKG is definitely where the money is at...
What volatile FX market are you talking about? The HK$ is pegged to the US$ so those Americans on a HK base aren’t effected by currency fluctuations. If you are from any other country like me, Australia, my take home pay in Australian dollars has dropped more than 40% in the last five years.
