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One year after leaving Hong Kong

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  1. #41

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    Quote Originally Posted by civil_servant:
    @Titus, just wondering, what made you go to Clearwater BC vs the sunnier and warmer spots in Southern BC?
    The Okanagan is over priced I think now and when I was buying the property from HK, I was still considered a non resident and Okanagan just started the non resident buyer tax like the lower mainland and Victoria and Nanaimo.

    Clearwater is 5 hours drive from Vancouver international Airport, I can start driving at 8am and have lunch with my parents in Vancouver. It's one hour drive from Kamloops with its own airport with 3 daily flights to Vancouver. It's got its own hospital despite its size. Jim Pattison (Li Ka Shing of BC) invested into the town with a new strip mall so he must be seeing something. It's got buy low foods and k-12 school and TRU in Kamloops. Its the gateway to Wells Gray park with dozens of waterfalls including the 4th tallest one in Canada. And actually it's quite sunny in Clearwater, more moisture than Kamloops but still pretty sunny even in the winter, might be cold but its a sunny cold. LOL the lady who sold me her house retired to Kelowna in an apartment there to be closer to grandkids and yea done with dealing with snow removal, but I'm still young.

    That and when I visited the short listed towns, I just had a positive vibe in Clearwater. People everywhere were smiling, the restaurant staff were cheerful, didn't see a grumpy face anywhere, after a year here I haven't given anyone the middle finger driving LOL I hate to shit on HK now that I'm gone but that positivity and just smiles on people's faces and the hello to strangers on the streets was an uplifting breath of fresh air. The Okanagan is getting way too crowded just like the lower mainland which is in a way starting to turn into HK.... faceless crowds etc
    Last edited by Titus; 29-07-2020 at 04:28 PM.

  2. #42

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    Quote Originally Posted by HKthe:
    So you got the mpf refund *after* you left hk and became Canadian tax resident and into your Canadian account? So I take it you had to pay tax on the mpf as it would technically be foreign income?
    No, because your MPF was "earned" or saved while you were non resident. Just like when I sold my home in Hong Kong and there was a profit from the time I bought in 2012 and 2019, the profit isn't taxed by CRA because it's appreciation over period of time while I was non resident.

    However, if I didn't sell my home in HK last year and sold it today, I would have to pay Canadian taxes on the profit that is the difference in 2019 price and today's price (still not the difference between 2012 and 2019). I paid under 500 CAD for a repatriation consultant who advised me on all this and other issues. He advised to get some sort of valuation done on my HK property if I was to keep it, so that later on if I sold it in say 2025, I would pay tax on a profit difference between the 2019 valuation and the 2025 selling price (and not pay anything on the 2012 to 2019 portion).

  3. #43
    tck
    tck is offline

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    Jul 2015
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    Thanks for the share. Obviously how HK has been has had me fantasising about this option for a while, but that very fear of being an outsider again was a little scary. Seeing the balance and wholesomeness of what you've built over there definitely something I'll aspire to achieve some day.

    Titus and alexdown like this.

  4. #44

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    Jan 2008
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    Quote Originally Posted by tck:
    Thanks for the share. Obviously how HK has been has had me fantasising about this option for a while, but that very fear of being an outsider again was a little scary. Seeing the balance and wholesomeness of what you've built over there definitely something I'll aspire to achieve some day.
    I think most small communities will appreciate anyone who makes an effort to be part of their community. Maybe living in big cities all my life got me jaded about them but I feel people are more responsible for their actions and respectful of their neighbours in a small community. Not saying its utopia of course

  5. #45

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    Jan 2008
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    Quote Originally Posted by chichow:
    This not happening In hk

    https://twitter.com/RexChapman/status/1287946100859641857?s=20
    Unfortunately not unless it's the super rich =(

  6. #46

    Join Date
    Aug 2020
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    @Titus Thanks for sharing your story. It's lovely.

    I was also born in HK and lived in Vancouver for 10 years. Have returned to HK for 15 years. Have lived and travelled to different countries because of work. Soon I'll be moving to U.S. as my husband is American.

    I hope I had spent more time in the BC interior. Such a beautiful place. I'm sure your kids will grow up happily. I did remember the Douglas Fir you mentioned in Vancouver Island. A simple life is sometimes more valuable than what we thought. My hubby and I may move to a smaller town in a few years too.


  7. #47

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    thanks for sharing!


  8. #48

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  9. #49

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