try this calculator:
Salaries Tax Computation
remember that value of residence provided is a maximum 10% of your gross income, as I said in the post above.
In HK you pay tax in advance for the year ahead based on your current income. For the first year, you will have to pay two year's worth of tax, so your very first tax bill will be the current year in arrears and next years tax in advance. Subsequent years you will only pay the corrections to the current year and next year's estimate in advance.
Clear as mud?
You will actually earn slightly more than $386,000 in year 1, with flying pay, you will get over $400K. It is quite normal to earn $37K in a month, 13th month (hopefully), and profit share, (FYI, profit share this year was 1 month's pay also, but don't expect that this year with oil prices). So it is possible to get $460K-500K+ in year one.
For simplicity I've used $400K (+40K housing)
Single $44,440
Married $26,080
Married + 1 kid $17,580
Married + 1 kid born during the financial year $9,080
Married + 2 kids $9,080
Married + 1 kid, and a second born during the financial year $3,180
So, tax is pretty good compared to western countries, the last case above is only $407 USD for the whole year!
Hope that helps...