guy's there is another way around this move os or stay geater then 183 days outside oz, go to a nice little tax free country then tax is no problem anymore.
we have a few right on our door step only a couple of hours flight away.
I made the move a couple of years back, now only come back to oz for the parents and a little business.
have friends that do the 6 months in oz and 6 months os, but for me I was going to do this then found the rest of the world.
happy deducting.
guy's there is another way around this move os or stay geater then 183 days outside oz, go to a nice little tax free country then tax is no problem anymore.
What is so wrong about paying tax?
No one wants to pay tax, but if we did not, then think of all the private/government consortiums that would make us pay for general every day things.
15% personal income tax rate in Honkers....
compared to our top MTR, it would feel like it was a tax free country.....
180k HKD isn't all that much.....
AUS - 180k AUD gross = approx 120k net of basic income tax
HK - 180k AUD gross = approx 153k net of basic income tax
My rent is 400pw for a 1br in inner sydney, or 20800pa.
You say rent would be 4k pm in HK, so 48kpa
AUS After rent and tax = 99200
Hk After rent and tax = 105000
very primative comparison and not taking into consideration alot of things, but HK just edges on that comparison and probably is on par if assuming that other general costs of living (eating, clothing) are higher in HK... which I would disagree with from my short experience living there.
Wrong. The ATO has changed legislation for that this year. It requires you now to have proof that you will be living in that country for a period of (I think) 2 years and greater. Eg. the proof would be buying a house, rental agreement etc.
Alot of wealthy people that used to use the old tax legislation are now going to have some hefty tax bills
or you can set up an offshore trust in Oz then become a PR of Canada, all worldwide income cannot be taxed under immigration law by Canada for the first 5 years. After that you can choose to become a citizen and keep the trust, whereby all income generated from another country (the US) cannot be taxed
hong kong is a tax free country??
What is so wrong about paying tax?
No one wants to pay tax, but if we did not, then think of all the private/government consortiums that would make us pay for general every day things.
Look at the cost of living difference.
You need to be earning about 180K plus for it to be worthwhile.
I have looked at this oppurtunity before
not so you can live in Hong Kong quite well if you don't live in the middle of it all
I used to live on the harbour in central (CBD) and paid about USD10K a month for an apartment.
now I live in house out in the new territoies for USD1500 a month, and the cost of food and daily supplies is about the same as OZ, its where you live in HK that makes it sooo expensive. eat and live local and its quite reasonable.
where I am in the new territoies there are heaps of Expats, so its quite interesting at times.
Happy Trading
I heard the downside to living in the territories is that some of the places are practically gated communities, and everyone has their nose in each others sh.t. alot like you'd expect to see on that desperate housewives show.
and along with that you have a whole love of bankers/traders/financiers wives with too much time on their hands just looking to find trouble.
just what i heard anyway.
i've family that are expats there but live on old peak road
That's quite true. There's a pretty good case for less tax and more user pays imo but I suppose that's always going to be politically unappealing. Plus those who use the most services usually contribute the least in revenue.i think alot of peoples problem with paying tax is that they feel as if they are subsidizing a) stupidity b) laziness and c) the excesses of few, among other things.
That's quite true. There's a pretty good case for less tax and more user pays imo but I suppose that's always going to be politically unappealing. Plus those who use the most services usually contribute the least in revenue.
Precisely.. taxes should be minimal to provide general infrastructure, healthcare, education and defense. Everything else such as welfare payments should be abolished. The money is going to people who least deserve it IMO
Precisely.. taxes should be minimal to provide general infrastructure, healthcare, education and defense. Everything else such as welfare payments should be abolished. The money is going to people who least deserve it IMO
That's very harsh, jono. I would hate to live in a country without a decent welfare system. Gooner has made the points that I would have.Precisely.. taxes should be minimal to provide general infrastructure, healthcare, education and defense. Everything else such as welfare payments should be abolished. The money is going to people who least deserve it IMO
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