Monday, March 3, 2008

75% tax reduction, aryt!

the announcement of tax cuts is like a song to my ears. who wouldnt love it? it's like getting a big discount on that elusive pair of shoes or a pair of designer jeans or iPhone or dSLR and the list goes on and on. hk taxation scheme is one of the best in the world (as i've heard and read) and this tax rebate is icing on the cake. from 100,000hkd exemption for basic allowance and 200,000hkd for married, they now increased it to 108,000hkd and 216,000hkd respectively. 8,000 is a big thing for me. i may not even pay tax for this year's assessment. or the HK government may still owe me. can they refund or reduce my future year's tax? actually, i still dont understand much about this kind of stuff. all i know is that it's a very good thing. haha did they overtax? is hk economy doing fine in spite of a weak US dollar? where is this wealth come from?

HKSAR's budget, financial secretary, john tsang can explain in more details in this article.

how to enjoy my tax rebate: spend on travel and gadgets

as if i have THAT big of a tax. it wouldnt even cover half of my would-be expenses.


harbie said...

oh gurl, we are having a tax rebate here as well, apparently to boost spending and get the money circulating again. which will, in turn, boost the economy daw. *scratches head*

i've been reading about the recession here in the US, and we are slowly feeling that as well. high gas prices, low salary increases, higher property taxes, etc. and it will get worse pa daw.

and to quote a writer... "power is shifting to the east"... particularly to China. *ulk*

rEeYuH said...

ohhhh ganun pala un?

i heard about china too. hmm...