MPF scheme & sole prop

[Morrison]

If I run a solprop, do I have to make mandatory contributions to MPF ?
Is it a percentage of profits ?
What if the solprop made a loss ?

[Claire ex-ax]

The answers aren't here?

http://www.mpfa.org.hk/eng/main/self...rson/index.jsp

[Gruntfuttock]

In practice though I don't (I object to being forced to put my savings into such appalling investments); I complete my tax return accurately, with no deductions shown for MPF contributions, and no-one from IRD has queried it so far.

[vmlinuz]

In practice though I don't (I object to being forced to put my savings into such appalling investments); I complete my tax return accurately, with no deductions shown for MPF contributions, and no-one from IRD has queried it so far.

They do seem oddly uninterested in enforcing their own rules, don't they?

[dipper]

They're not IRD rules.

[Gruntfuttock]

Well OK, but they are government rules. What is the enforcement mechanism if not through IRD?

[nassaugirl]

I do make the contributions. I believe that's what the guidelines say should happen.

[shri]

They'll catch up sooner or later.

We did receive a notification about 2 or 3 years after not paying or making a late payment on one of my MPF payments.

[Gruntfuttock]

If you've set up a scheme and stopped paying then I have no doubt, but I've never set a scheme up.

[PSMaverick]

Required by law, but hardly policed... You might want to do it just to write off that amount for tax purposes..