[mrcheese321]

ehh, I don't know if it was a case of poor planning or not. It makes sense if I had stayed in college for 5 years instead of graduating in 3. The taxes would be paid, I would get a set monthly check to cover my college expenses and the rest is reinvested. Plust nobody knew that I would even consider leaving the US to work after I graduated, everyone assumed that I would just work for my father and then it wouldn't be an issue.

The problem is that since I'm going to be starting work 2 years earlier than planned and not for my fahter, I'm screwing up the tax planning by pushing myself into a higher bracket because I'm actually taking a job. I might be able to see if I can roll all of the investment income into something that I won't get taxed on, but I don't know if that is possible - I have to call my attorney and tax man and ask.

[Sazzy]

Mintia - is your £14,500 net or gross? Will you have to pay UK tax or HK tax? It will make a big difference on your disposable income

[PDLM]

If you are employed in HK then you pay HK tax. (The UK has what is known as the "partial year concession" which means that your UK tax is calculated solely on your UK earnings in that tax year prior to the point where you leave the UK.)

[mintia]

Thank you all who've replied and offered advice. The thing is i am actually a Singaporean citizen, so i do not think that i will have to pay tax in the UK. If its such, then do i have to pay tax in both Spore and HK?

The thing is i've been doing my negotiation via email, as the person incharge is in UK, while the HQ's in HK. In my last email, i actually hinted to her that my parents are worried that i can't afford rent on my pay and wonder if the office could gimme some sort of accomodation. She has fowarded that request to the HK office so wish me luck!

There's also no mention of any trans-location reimbursement. My friend who's on the same contract as me has signed without asking for housing! but she has relatives there who're offering her a place to stay so it's easier i guess. When she asked what she should bring over to HK, the manager told her just bring her comfort creatures...

I'm just slightly worried that since we both are getting the same job/offer/pay, but yet i'm asking for housing allowance, will that affect how the company sees me?

Erm... i've calculated that with GBP14,500/yr, i get HKD14000/mth after tax which i presume is 15%?

i've read on other sites that only 2% of the population pays tax but i presume that since i'm a foreigner, i am liable for the full 15% yah?

What is the difference between Nett and Gross salary? It's my first job...so pardon my ignorance.

[discobay]

True. If your employer does not make a report of your employment to the IRD then you will get away scott free like a lot of expats on big contracts (like they don't get enough already).
Gross salary is what the employer has offered you 14,500/year.
Net salary is what you actually get after paying income tax and whatever the government takes off you.
Here in HK you take home the gross and pay the income tax at the end of the tax year. At the same time you also pay some of the income tax for the following year. So at the end of the second year you have paid more income tax then you should for what you have been paid i.e. you have paid income tax in advance.

[mrcheese321]

I don't think that asking for a housing allowance will be bad - you just have to accept gracioiusly if they say they can't do it. And if they say no try and find some type of creative solution you can come up with to get something else that you want (location fee payment or something) instead.

Salaries are pretty much always negotiable, and if you don't ask, you won't ever get anything

c

[Kopi C]

Hi Mintia, I sent you a private message. Do read if you get a chance.

[mintia]

If they say no they can't provide housing, would it be terrible of me to turn down the offer then? I really would love to work in HK, but if trying to survive on HKD14000/mth is going to be a tad tough, my parent's say it's not really worth it.
=(

[discobay]

The big thing is the housing. If you can guarantee a place for cheap maybe through someone you know then take the offer.

[Mat]

Look at it in another way ! You are fresh grad, no experience....in short nothing to loose.

It might be a one time life experience. Getting a job in the UK, well you can do it when you go back there in 1 or 2 years....

Money is one thing, but for a year or a bit more you can enjoy something new and different + your abroad experience might be a plus later on when you come back to the UK....

17.000 is definitely not a high pay, but at 22 or 23 years old you can easily lve on it.