Apologies in advance for yet another post on salaries tax. I know it is the most common question on this bit of the forum and I have reviewed the countless other posts, but I just want to clarify and confirm my understanding with some numbers...
So let’s say I started work in HK (partway through)this tax year, let’s say the tax I owe for 2017/18 is HK$10,000 (calculated after 75%/HK$30k discount), and based on the new tax regime my tax for 2018/19 is HK$60,000 (prior to any discount that might be announced in the 2019 budget).
After filing my tax return I receive a payment notice, I need to pay HK$55,000 (HK$10,000 from 17/18 and 75% of 18/19 tax) in Jan 2019, and the remainder in April 2019. Is that correct?
Secondly, is it the case that when I file my tax return in 2019, do I receive a bill for any over/underpayment for the 18/19 tax year AND need to pay provisional tax for 2019/20 tax year?
Thanks in advance!