Hi,
I am moving to HK in september and my package includes a 'housing assistance' which is paid seperately from my pay.
Would anyone be able to tell me if this amount is to be included in income for tax purposes?
Cheers,
NB
Hi,
I am moving to HK in september and my package includes a 'housing assistance' which is paid seperately from my pay.
Would anyone be able to tell me if this amount is to be included in income for tax purposes?
Cheers,
NB
It is taxable, but not simply as salary. Details are in the Inland Revenue's brochure here: http://www.ird.gov.hk/eng/pdf/pam44e.pdf
Its all about the wording, "proper control" and making sure your company keeps good records. Check this out;
http://www.horwath.com.hk/-HW.asp?-n...lications2.asp
Do you mean is it taxable as HK income or US income? I think in the US it will be considered income, unless (and this is the case sometimes) the firm rents the place and lets you live there.