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Discussion Starter · #1 ·
Hello Everyone,

I hope that you're all well. I currently live in Wales and have been offered a job in Hong Kong. I visited last year and loved it but I have no idea about the cost of living and how far my package will get me and would appreciate any advice at all.

The offer is
$30,000 salary per month
$15,000 housing allowance per month
$2,200 transport allowance per month
$680 communication allowance per month
20 days paid holiday a year

It would be nice to know please what king of accommodation I can expect for this and what kind of standard of living.

Based on my calculations and my understanding of the tax:
$360,000 a year
(120,000) basic tax allowance
(15,000) MPF
225,000 - taxed on this amount
(26,250) - salary tax

Also, the 120,000 of basic tax allowance this is mine to spend right? So the money I would have over the year is 225,000 - 26,250 + 120,000 = $318,750? Is this correct?

I would be really grateful for any advice, thank you in advance for your time

Cheers
John
 

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John

Please see link below for Hong Kong Tax calculator -

Hong Kong Tax Calculator 2012 | Estimate Your HK Taxes Online | GuideMeHongKong

Another thing you need to note is that the Hong Kong tax system is different from that in the UK. There is no PAYE in Hong Kong, so you will need to save up money to pay income tax at the end of the tax year. You can put money towards Tax Reserve Certificate for income tax payment purposes -

Tax Reserve Certificates

The 20 days annual leave is very good for Hong Kong. Many locals only get 14 days annual leave a year.

If you are going to work in Hong Kong, you may wish to pay UK Class 3 National Insurance to keep your UK state pension contribution records up to date.

https://www.gov.uk/voluntary-national-insurance-contributions/who-can-pay-voluntary-contributions

You may wish to visit your local HSBC branch before your departure to Hong Kong in order to see whether you can open a Hong Kong HSBC account in the UK. HSBC has one of the largest branch network in Hong Kong.
 

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Discussion Starter · #4 ·
Thank you very much for the advice, I will have a look into this now. Really appreciate the links, they look very useful.

Much appreciated
Ynyr
 
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