80k is very good salary. It depends on your lifestyle how much you will save.I have been offered a package of HKD 80k per month. Wanted to understand if this is good enough for a family of 4 (2 kids - one is 6 years and the other 2 years) ...understanding that rentals and education can be very high...
Advices are welcome....
updateBeing from America
As long as you follow some basics the first year you will get big tax breaks
Expat tax break on Fed is that the first $94,200 (i think) is exempt from USA tax
State tax depends on your state of residence
I rented an extended stay motel room in Vegas for 3 months
Registered my car there, got a drivers license and registered to vote there
They have no state tax but my home state did
Saved a lot there
Nothing says you have to actually live there
Just have an address for a time to be counted
There are several requirements your first year and i am not fresh on them
but you can google it
and you can also get a tax office that specializes in Expat taxes
The first year you cant be on US soil more than 35 calendar days to qualify
after that i don't think it matters how many
Hope that gives a little help to start
Best wishes on the rest
Richard 0907 - thanks for your reply. I guess you want to say I should not be worried.I would tell you most of the native of Hong Kong is earning around 20K-30K per month. And the normal flat in Hong Kong is around 4 - 5 million while the rent is near 10K, but not applicable to Tsim Sha Tsui or Hong Kong Island, in which it's more expensive.
Really depends on your work experience! If you are a fresh graduate that's fantasticHi to All!
Can you help to asses if the package I am being offered is reasonable?
- I am being offered HKD 52k net (after local HK tax) including housing allowance.
- I don't have to pay any tax out of HK
- I am single (no wife and kids)
- Work place is in Quarry Bay on HK Island
- I don't mind to commute unless it's not longer than 1 hour
- I'd like to travel locally on weekends (Singapore, Macau, Thailand, etc.)
Thank you for help!