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Finally leaving Hong Kong - MPF and Tax how long realistically?

  1. #21
    bdw
    bdw is offline

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    Well, moving countries can sometimes be a hassle.

    Out of interest, when receiving your MPF back, do they deposit into your bank account or are there other options such as to transfer the money to a foreign pension fun? Some countries like Australia for example will have Australian tax benefits if your MPF is transferred directly to an Australian super fund within 6 months of you returning to Australia, rather than paid to you in cash.

    https://www.ato.gov.au/Individuals/S...n-super-funds/


  2. #22

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    This thread is a good reminder for other expats to get their MPF shit together (literally) while working, nobody wants last minute rush for collecting petty cash in 10 different accounts..

    shri, chuckster007 and bdw like this.

  3. #23

    Join Date
    Sep 2017
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    Quote Originally Posted by coffeeman
    So another update.
    last Friday I did 3x the official oath that I will be leaving Hong Kong this process took less than 15 minutes to complete a starsh contrast to waiting 7 year to get the “permanent Hong Kong resident status”

    It really put things in perspective that you will never be a full HK resident without the passport.

    then on Monday I visited all 3 MPF companies I have a account with prepare to travel! None of those offices with MPF specialists are all over HK they are only at a few places. So the process for submitting the official oath with other forms was pretty easy they all assisted me correcting all information such as signatures etc.

    then my employer only submitted the 56G and 56F forms to me on Tuesday which was a week after my last work day, which I directly submitted to my assigned IRD officers for my tax, till this moment 8 business days later I still don’t have my salary as my final tax is not completed yet.

    i am very surprised if anyone could have this all arranged in a single day. I do believe I only can get my salary somewhere mid next week. So around 2 weeks to get my tax done and getting my final salary.

    then separately each MPF company needs 1 month to give me my pension money. Also my company did not inform hang seng bank yet about my employment status which they need in order to give me my MPF money.

    unluckely I am with a consultancy company which is really slow at doing things so I need keep chasing them to do their stuff so for sure when you leave HK reserve at least 1 month buffer before you move to ensure you get your money etc if you pernamenty leaving HK.
    Wow such a hassel. That said, I'm myself wound up in one too. I had to submit my application(s) again. Many of my Hongkonger colleagues say they haven't/didn't enrol for MPF scheme during their employment period. Now, I see why. It's a huge pain in the whole nervous system.

  4. #24

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    Many of my Hongkonger colleagues say they haven't/didn't enrol for MPF scheme during their employment period. Now, I see why. It's a huge pain in the whole nervous system.
    Now that is illegal. Employers (who are the ones who do the enrolling) should not be risking their businesses.
    Have a GeoExpat related problem - please create a support ticket.

  5. #25

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    Quote Originally Posted by shri
    Now that is illegal. Employers (who are the ones who do the enrolling) should not be risking their businesses.
    Illegal. Really? Whoops. After hearing about that from them, I thought employees do have the choice to not get enrolled.

  6. #26

    Join Date
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    Quote Originally Posted by bdw
    Well, moving countries can sometimes be a hassle.

    Out of interest, when receiving your MPF back, do they deposit into your bank account or are there other options such as to transfer the money to a foreign pension fun? Some countries like Australia for example will have Australian tax benefits if your MPF is transferred directly to an Australian super fund within 6 months of you returning to Australia, rather than paid to you in cash.

    https://www.ato.gov.au/Individuals/S...n-super-funds/
    I chose my mpf funds to be deposited into a loco HK account which I will reinvest in investments. I believe there is an option to get a check delivered to an overseas address too.

    There will definitely be a future tax liability since my country taxes worldwide income once I attain a residency.

  7. #27

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    Hope you got all answers. All the best.


  8. #28

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    Another update, i am still waiting for my tax returns/ outstanding tax calculations, which i submitted on the first day possible after my resignation.. Its a slow process with poor communication with the IRD, the assigned person is replying with a different email which is tied into a automatic response system so they dont see the replies themselves...

    So i was emailing a few days to nothing... i am kind off annoyed how this process takes so long... its 14 May now, my last working day was 30 April.. so i probably still dont see my final salary paycheck for another 1 work week.... which is really annoying that i have to do almost 1 month without a salary.

    From neither the MPF accounts i heard anything back, but i think i wont for another 2/3 weeks and then i will have money deposited onto my bank account.

    Overall i am really happy i resigned 2 weeks earlier then planned (1.5 month buffer originally) i feel the 2 month buffer is kind of neceserry to ensure you get your final salary and MPF payout before you left HK so you still have time to locally fix issues if arises. More updates follow.

    But indeed fix your MPF as good as possible, try to stick with 1/2 companies only and keep a eye on the fact if its a corporate MPF or a personal MPF as there is a difference there as well and affect MPF payout if not arranged propperly before departure HK.


  9. #29

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    @coffeeman - there is a severe disconnect here. I know two people who worked for us, who were able to get their IRD releases within 5-10 working days. One was an easy case another slightly more complicated as they had two employers that year.

    IRD does not and should not take as long as you're saying they did. I'd get down to IRD tower and start asking.

    Have a GeoExpat related problem - please create a support ticket.

  10. #30

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    Quote Originally Posted by coffeeman
    Another update, i am still waiting for my tax returns/ outstanding tax calculations, which i submitted on the first day possible after my resignation.. Its a slow process with poor communication with the IRD, the assigned person is replying with a different email which is tied into a automatic response system so they dont see the replies themselves...
    I feel like i'm about to go through this - I submitted my tax return at the IRD office pretty soon after my resignation and my Company providing me a IR56G a. The Officer assigned to my case said that I would receive the outstanding tax bill on 17 May. Hopefully it will either appear in the mail in the next few days or on etax. Silly me - I didn't take down the officer's name or contact etc so if nothing in next few days, i'll make another trip to IRD and try to explain myself. Fun times ahead.

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