Housing Assistance?

[Ibanez]

I'm off to HK in a couple of weeks for the second interview. Just a quick question about the housing allowance: You initially receive HK$14,000 in housing assistance which increases to HK$18,000 after two years service. Is that the total amount that you receive upfront to cover your rent? ie: Can you rent a place for say HK$10,000 and have an extra HK$4,000 for savings towards that all important plasma TV and surround sound system :O ?

[Harbour Dweller]

Ibanez,

As a CX SO you get 2 choices regarding Housing Assistance:

HK$14,000 cash in hand to do what you like with. (Yes you can pay HK$10,000 for a place & HK$4000 on the must have plasma). You will pay tax on this as it is classed as income.
Anything from HK$14,001 to HK$22,000 - HK$23,000 ish for housing only will be paid for with proof of a rental agreement. No tax is paid on this amount.Good luck with round 2.
:ok:

[Ibanez]

Cheers mate! (and welcome to Pprune :ok: )

[Truckmasters]

Purchase
You certainly pay tax on the mortage contributions. The mortgage contributions are treated as if they were a cash component of your salary. Then again you can claim the interest on your loan (for 10 years) as a tax deduction.

Lease/ Cash
Additionally my understanding is that you pay tax on a declared lease amount also. However because it is a declared lease you pay a lower percentage (10%?). If you take the cash amounts (ie 14,000 initially) it once again is treated as a cash component of your salary, so you will pay normal salary tax.

Could be wrong on the Lease side, however I'm fairly sure of my facts on the cash and mortgage components. Feel free to clarify my comments if you are in the know. (you might notice that Siberfuchs has applied approx 16% tax to the 2year SO figures quoted)

[LocaliserAlive]

As a DEFO on the pax fleet you'll be on approx US$6100 per month .....AFTER TAX plus Duty Pay & Allowances (no Prov Fund, Ive included that in the $6100)
Hi Silberfuchs,

Could you confirm that there is a possibility of joining CX on the pax fleet as DEFO :confused:? If yes, what is the catch and is it for a HKG basing?

Cheers,

Loc

[404 Titan]

LocaliserAlive
Could you confirm that there is a possibility of joining CX on the pax fleet as DEFO ?
Not yet but watch this space.
is it for a HKG basing?
No. If/when it happens it will be on a base (initially Sydney and Melbourne) on DEFO freighter pay with a freeze of four years on that base.
If yes, what is the catch?
The catch is you will have to have the right of abode to live on that base. CX won’t and can’t sponsor you.

[Kane Toed]

Personally I just dont understand the driving passion to rush into the RHS. 2-3yrs as an SO is a gift from the gods.Hear hear! It'll all come soon enough, but before then I have got some more time off to enjoy!