Tax savings tips upon relocation to Hong Kong

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Apr 2018

When talking about relocation, what is the first thing that comes up in your mind? Being in the right place at the right time can be important. Before you pick a lucky date, think about a start date that could save you on taxes. Hong Kong's tax year runs from 1 April to 31 March of the following year. Given that you are entitled to a full year of tax-free personal allowances under Hong Kong's salaries tax law, the best timing for you to begin your Hong Kong employment could be within 1-2 months before the tax year ends on 31 March. Depending on your income level and the personal allowances, your Hong Kong salaries tax for the tax year ended 31 March in the commencement year could be zero. Similarly, if you consider leaving Hong Kong on a permanent basis, you may depart around May or June to utilise the full year personal allowances.

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