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Taxes - Salary vs Housing allowance
Hello,
I have a question regarding taxes for my housing allowance versus my salary.
I am relocating to Hong Kong in January with my wife. I was told by my employer that I could increase my housing allowance (and decrease my salary) so that my housing allowance covered the cost of my apartment 100%. I was also told that I do not have to pay taxes on my housing allowance. If this is true, than obviously it makes sense to increase my housing allowance (and decrease my salary) so the cost of my apartment is covered 100% by my housing allowance...
Can someone tell me if this is accurate? Are there any resources online that could verify if this is true? How can I calculate how much tax I will be paying?
Any advice or comments would be greatly appreciated.
Thanks & best regards,
Jake
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