Hk Basic Expenses

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  1. #31

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    PDLM, thank you! Finally, I understood it. Because the way I saw it, we never really pay in advance. So I was wondering what everyone was complaining about


  2. #32

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    Jun 2005
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    What they are generally complaining about is their own inability to save ahead for the tax payments. If you arrive in about July/August then you don't get normally a tax demand for at least a year, and when you do it is for about 21 months taxes. You don't have to pay it until 18/21 months after you arrived, but many people can't cope with the financial discipline required.


  3. #33

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    Mar 2006
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    Seesh, okay. Because I was told you pay the next year "in advance" when you actually don't.

    I actually prefer it this way because I earn a little bit of interest


  4. #34

    Join Date
    Jul 2006
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    kowloon
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    ok.. so now i get it
    i got a PREAPPROVED tax loan from hsbc this week for like 70K @ 8.01% interest and i was freaking out cuz i'm thinking hsbc must have calculated that i need 70K for me to pay my taxes (i hvnt got my tax demand docs yet)

    when the dinger comes am i going to gauge my eyes out cuz i put my 13th month bonus salary aside in savings... is that going to be enough


  5. #35

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    Nov 2005
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    8.01% interest ? that's crazy. many of the banks are offering at much lower rates.. effective of maybe 5~6%....


  6. #36

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    Jul 2006
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    Quote Originally Posted by freeier:
    8.01% interest ? that's crazy. many of the banks are offering at much lower rates.. effective of maybe 5~6%....
    yeah i know. my friend told me i should take the loan out and put them into stocks. i told him that's crazy. maybe if it was like 5% or sth.. but even still..

  7. #37

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    u sure u going to make more than 5% on your stocks. no potential loss of capital ?
    some people are just reckless in life. 8-P


  8. #38

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    Jul 2006
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    kowloon
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    are there any reading material you would recommend to learn more about investing in hk? english reading material.. and in layman's terms


  9. #39

    Join Date
    Nov 2005
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    hk ? doubt so.
    read some of warren buffet's stuffs. its logical and intuitive.
    frankly the whole of asia is quite a casino.


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