TAX Payment reductions

[jetsam]

Deleted due too many smart ass comments

[BubbaJ]

Amazes me every year the amount of supposedly intelligent people that don’t save for their Tax bill relying on the 13th month. Not hard people.

[GMEDX]

No need to save even, it’s not difficult to get a tax loan either.
And the poor KA pilots didn’t even get an ex-gratia payment.

[oriental flyer]

You know that the first instalment of you tax bill is going to be due in early Jan , it’s so simple to make provision to save accordingly during the year . I have always been amazed at the panic as tax time approaches from a number of pilots
i’m not criticising jetsam for his generous suggestion to reduce the impact of the tax bill , sorry if it came over that way I’m just amazed that people don’t put a little aside each month for the Jan bill

[cabbages]

Jeez Paul.....A stranger takes the time to offer a freebie that might just help somebody and you take the trouble to trawl through their previous postings to find that little gem. You sound like a real creep.

[LongTimeInCX]

With you on that cabbages.
Someone takes time out of their day, to try and spread an informative post that may help a few people, and most folk just lecture him that he should have saved. Well newsflash to you neggers, not everyone is in a position to save because of various unexpected commitments. One middle aged fella I flew with recently, was telling me he is financially stretched really thin as he's paying for an extremely expensive chemotherapy course for his mum, who otherwise couldn't afford it.
I don't know Jetsams circumstances, but if folk have to say anything, surely a simple "thanks" would suffice.
Didnt take long for the Xmas spirit to evaporate!
Come on people, that's not what we've become is it?

[Progress Wanchai]

The annual discretionary bonus will only not be paid “in extreme circumstances”. We’ll see in a few months if circumstances were as extreme as management would like some to believe.

The ADB is actually more contractually tight than HKPA. Running the family budget taking into account the ADB is no more foolish than budgeting on receiving a set HKPA figure. If circumstances are so extreme, I dare say that’s next to go.

[MENELAUS]

It’s so contractually tight they didn’t pay it. And they probably won’t pay it again in the future. And what will we do about it ? Budgeting on a regular amount of HKPA is equally uncertain. Ask a 747 guy. Or anyone who’s had long term illness. Save 20% of your salary every month. And then, ADB comes along. And it’s Happy Days. Or not. Least the tax is covered and you’re not playing catch up every year with a tax loan. Even the very idea of a loan to pay tax is bonkers. And granted the info was well intentioned, however the IRD’s altruism does not extend to offering instalment payments on an ongoing basis.

[Klimax]

TAX PAYMENTS

For those stressing as was I about how to pay an substantial tax demand in the absence of the End of Year Bonus, I have had quite surprising understanding on this issue by the Inland Revenue Dept. at least and after an application to defer provisional tax, they reduced it to an almost manageable level and then subsequently on further application agreed to 5 monthly payments iaw their announcement. Plus an extra two weeks to pay.
It was really worth doing to reduce the high amount of stress this unexpected decision from the company caused and for anyone else in difficulties, I highly recommend visiting the IRD website and either filling in the online forms or downloading the installment request form. They are also helpful on the phone which at this late stage may be worth doing first.

Good luck and Happy New Year to all.

Good on you for sharing useful (for some obviously) information. Happy 2020 and onwards.

[deja vu]

PAYG, simples and no surprises. The current system is too hard for HKG pilots, sheesh!