etrang
That is the typical short sighted mentality that screws people in the long run. Yes we all know that as a single person the package is doable. Once you are married with kids it is completely inadequate. As you obviously don’t work here I suggest you keep your nose out of what clearly is none of your business.
Voiceofreason
Do you have family in Hong Kong? As you were born here I would imagine you do or at least grew up with your family in Hong Kong. Please don’t tell me that this doesn’t give you an insight into Hong Kong life, a feeling of home and a sense of street wise an expat couldn’t possibly dream of.
For the life of me I can’t see why when others (the AOA) are trying to get full expat conditions for everyone, including yourself that you would get on this forum and try and sabotage the work that is going on behind closed doors. Why is that?
It is obvious that you haven’t been here very long but a look at history would show you that CX has done this before. The end result last time was a letter in hundreds of CX pilots mail boxes with a sign or be fired ultimatum. If you don’t think this won’t happen again then you are very naive.
17% tax? When was the last time you paid that much? Standard rate is capped at a max of 15%.
Tax, you don’t want to have a debate with me about tax. Do you know the difference between progressive tax rates and standard tax rates? Do you know which is the most efficient and at what income level a tax payer will be required to go to the other taxation method? In Hong Kong the IRD will tax all tax payers using the progressive tax rates up to about HK$1.5M. Above that they will use the standard rate. With the exception of a few, most CX pilots would have their tax calculated using the progressive tax rates. That would mean that the housing assistance that is paid into your income would be taxed at 17%, the top marginal tax rate under the progressive tax rate method.
Really? And you're source of that advice is? Don't know about the US, but I think that only "income derived from employment" is taxable.
I’m also an accountant if you haven’t already figured it out. That’s how I know. Go and ask the IRD for yourself if you don’t believe me. As far as the IRD is concerned the day the forgivable loan is forgiven the entire loan becomes income which is chargeable in that year.
If any part of the loan is paid out in cash, yes taxable - that's income. Otherwise, why wouldn't all current cadets have to pay tax on their training in Adelaide? Same principle.
It’s not the same principle at all. The difference is the company use to just pay for the cadets training directly to FTA. Now they give the cadet a loan and they pay for the training themselves. It’s the same as saying here is an advance on your future income to go and learn to fly in Adelaide. It's all treated as income unless it is paid back to CX. Period.