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Old 29th Apr 2016, 05:04
  #15 (permalink)  
Join Date: Apr 2011
Location: New Zealand
Posts: 4
Based on the C scale contract.

You get an education allowance per child of around $70k per year.

As you don't get housing you qualify for rental reimbursement as a tax deduction against your salary, provided your rent is less than 1/2 your base salary. In practice, the total paid in rent for the year is deducted from your total taxable income...or another way of looking at it is you get a 17.5% discount on your rent.

You get additional tax deductions for each child $100,000 and if you are married $264,000.

Rent in Kowloon for a 3br 950sqft saleable is around $30k per month. A car park varies but my building is $2k per month.

So if you got $100k per month and paid $30k in rent and had 2 kids at school, around 8k after subsidy and a helper for 5k. You would be left with around $57k.

Tax wise you would get a rent tax deduction of $360k,plus the others deduction stated above and your tax would be around $85k for the year with 2 kids. (7k per month)

So this would leave you around $50k per month.

These are rough figures...
Dwesty is offline