I think this is worthy of a new thread, so and I put all the relevant links to FAQs and such at https://geoexpat.com/forum/175/thread357610.htmlOriginal Post Deleted
I think this is worthy of a new thread, so and I put all the relevant links to FAQs and such at https://geoexpat.com/forum/175/thread357610.htmlOriginal Post Deleted
The exact timeline for refunding your overpayment is unclear on the IRD's site. I've gotten checks from the IRD before when I paid more in provisional tax than I actually owed when I filed for that relevant tax year, and as I recall they mailed those to me in early August after I filed my taxes in May or so, so my guess is that it'll only take the IRD a month or two or less to send you a refund check.
If you have multiple bank accounts and/or credit cards with the relevant institutions you can try your best, but for me I'm trying to make the best use of what I already have and as a U.S. citizen it's annoying to open new bank accounts, and getting new credit cards in HK is a relatively painful compared to the less than one-minute approval I get from U.S. credit cards.
The reason I can get the full 2% of 50k is because I would do it indirectly using AAVS linked Octopus cards balances transferred into my O!ePay balance and then the O!ePay balance out to the IRD within the Octopus app. The cap is currently related to the credit limit of the PrimeCredit EarnMore card and the monthly transfer in limit from octopus cards into your O!ePay balance. The part of the cap I don't know is the limit on how much the IRD is willing to refund me for overpayment. Maybe they don't care and refunds are mainly processed semi-automatically. I don't know and that's one reason I'm on here plus for fun and sharing purposes.
To follow up with this thread, I finally overpaid a bit on my 18/19 + 19/20 Provisional taxes using O!ePay. When I login to eTax->Tax Position->Payment it shows the amount overpaid and then 18/19->View it says "Refund of tax overpaid will be issued to you within 18 working days after the date of payment."
I haven't seen that 18 working days timeline elsewhere, so I'm sharing it here.