Its time for Tax Assessment

[ndt]

My GF has deductions for her parents which can deduct 200,000.

She has two sets of parents? Or am i missing something?

https://www.gov.hk/en/residents/taxe...ces/7years.htm

[D.YU]

There needs to be a line drawn somewhere - what you're proposing is a level of proof - the admin and hassle and expense in administering that would make it pretty unreasonable. There is a line to be drawn and HK has drawn theirs. I think this complaint is pretty thin.

Again. Its just a rant. Not really a complaint

[D.YU]

She has two sets of parents? Or am i missing something?

https://www.gov.hk/en/residents/taxe...ces/7years.htm

I think Grandparent as well... I dont remember the exact number but I recall it was 50k and 100k (1 grand parent left).

[FrancisX]

Most people in HK don't pay a single dollar of tax and more than a third live in government subsidised housing.

The middle class carry the largest tax burden and most people who identify as expats are in the middle class. Therefore yes, Hong Kong is very much dependent on expatriates who have no real say. Unfair, yes, but what are you going to do about it?

Feels to me like the very definition of a fair tax system, especially as that "burden" has numerous deductions and comes at between 10-20%

[D.YU]

Unfair, yes, but what are you going to do about it?

yup. Thats my point of the rant. Nothing can be done to resolve this and I dont expect it to change.

[GentleGeorge]

Feels to me like the very definition of a fair tax system, especially as that "burden" has numerous deductions and comes at between 10-20%

Meanwhile UK reduced the top tax rate threshold to 125k sterling, so you're paying 45%+ marginal tax rate from 100k up after the tax free allowance clawbacks.

Makes me feel sad for the middle classes over there. A little bit.

[Mirindix]

Most people in HK don't pay a single dollar of tax and more than a third live in government subsidised housing.

The middle class carry the largest tax burden and most people who identify as expats are in the middle class. Therefore yes, Hong Kong is very much dependent on expatriates who have no real say. Unfair, yes, but what are you going to do about it?

carrying the largest burden when it comes to salaries tax... however the biggest revenue contributor are actually companies (profits tax):

https://www.budget.gov.hk/2023/eng/p...ng_Leaflet.pdf

[ndt]

yup. Thats my point of the rant. Nothing can be done to resolve this and I dont expect it to change.

If it is any consolation, claim 100k rental deduction starting from this year and enjoy 17% (+17% on provisional) if you are in final bracket.. Even if not, you will pay nill to small tax compared to last year, cheer up...

[D.YU]

If it is any consolation, claim 100k rental deduction starting from this year and enjoy 17% (+17% on provisional) if you are in final bracket.. Even if not, you will pay nill to small tax compared to last year, cheer up...

Yes I saw this. But still over 150k in taxes due after filing every eligible deduction lol. While my GF is paying 5 digits...

Its not just the tax amount I am angry about. Its just the deduction eligibilities and requirements are so outdated and unreasonable.

[ndt]

Yes I saw this. But still over 150k in taxes due after filing every eligible deduction lol. While my GF is paying 5 digits...

Its not just the tax amount I am angry about. Its just the deduction eligibilities and requirements are so outdated and unreasonable.

Err as someone mentioned above, time to get married and adopt in-laws..