Where will you put $5000 a month?

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  1. #51

    Join Date
    Sep 2008
    Posts
    49
    Quote Originally Posted by PDLM:
    Then frankly I'm surprised. I would expect your tax assessment to have two basic lines:

    Tax for x January 2009 - 31 March 2009: $ XXXXX
    Provisional tax for 1 April 2009 - 31 March 2010: $YYYYY

    Total tax due: $XXXXX+YYYYY

    Payable 75% in January 2010, 25% in April 2010

    If it doesn't look like that then you might want to contact ImmD to ask them why they have not assessed Provisional Tax for 2009-10.
    Okay I just called IRD and it was explained to me that because I filed my returns electronically, the computer assumed that my salary for the three months I worked in 2008/2009 will be equivalent to my whole year salary in 2009/2010. Everything will be adjusted and then payed for eventually in January 2011.

  2. #52

    Join Date
    Jun 2005
    Location
    Hong Kong
    Posts
    23,207

    I think that can safely be described as a bug! Thanks for the update.


  3. #53

    Join Date
    Sep 2008
    Posts
    49
    Quote Originally Posted by PDLM:
    I think that can safely be described as a bug! Thanks for the update.
    She didn't make it sound like a bug when she was explaining it to me. It sounded more like an expected outcome. She gave an outright response as soon as I gave her the reference number.

  4. #54

    Join Date
    Jun 2005
    Location
    Hong Kong
    Posts
    23,207

    Well OK but it's a different outcome from that which you would get by making a manual return. So it seems as if anyone paying tax here for the first time can get a significant part of their first tax bill deferred (the later you start working in the tax year, the more significant) simply by making an electronic tax return. I'm sure that will be of interest to some people.


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