.. thanks Ruby & Benson for sharing Tax Income....in my opinion it's Better to be Tax than Not Tax.... Complicating? Not to be Tax meaning unemployed or No Income ... However, there is no individual income tax in Brunei..
This is a flat calculation without any government relief. As Singaporeans, we get many reliefs like parents relief, children reliefs, National Service relief (for guys) and even for insurance payout and donations can be used yo reduced total taxable income. I did not need to pay taxes when I was drawing like 6k salary
Provisional tax is an estimated tax charged for the ensuring year that is likely to be owed by a taxpayer for a year of assessment. Taxpayers are required to pay provisional tax based on the previous year's net chargeable income. The reason for collecting provisional tax is to ensure that taxpayers pay their taxes in a timely manner, rather than waiting until the end of the year of assessment. Provisional tax is not paying tax in advance, nor paying tax on future income.
The explanation makes sense but still it might be hard to tell whether it's worth the administrative cost to charge provisional tax🤔 In terms of cash flow if we are earning similar income every year it might not make much difference
Your vlog is very good. I wish both of them enjoy living in Singapore. I also have to pay my personal income by monthly payment ( 12 months ) through Giro and is interest free.
Ben San, I would like to consult you on the matter of MPF. What is the meaning of 1)"offsetting mechanism" 2)"severance and long-service payment" 3)why is the mpf system causes so much confusion and complicated compared to the cpf? I'm very curious. Now the minimum wage in HK is $40 hourly rate, on the monthly average is about hk$900 and the mpf contribution total rate is 10%, definitely not enough for retirement. Don't talk about the future inflation down the road. I hope it doesn't get you agitated 😂 i sincerely want to know.
MPF in Hong Kong is simply a token mandatory pension fund which was implemented since 2000. With how it is being managed, the current inflation rate, and the prospect of Hong Kong economy at least in the coming 15-20 years, I dont see how it can serve its purpose of securing a viable retirement life for Hong Kong people ... Back to your questions: 1&2 - Essentially referring to the same mechanism of using the employer-funded portion of MPF to pay off severance/long-service payment. So in Hong Kong if you are employed by the same employer for more than 2 years and laid off by your employer with immediate effect (which requires a severance payment to employee by law), your employer can legally withdraw money from the employer funded portion of your MPF (i.e. the 5% equivalent of your salary he paid every month) to partially or fully finance the severance fee. This practice was inherited from 1974 enacted Employment Ordinance. This "offset" mechanism was heavily criticized by pro-labour parties from both pro-dem (RIP btw) and pro-BJ sides but was supported by large corporations as well as legislators of Functional Constituencies who represent commercial interests of such corporations and SMEs. The reason of criticism is clear as "severance payment" and pension fund are fundamentally separate concepts and they are not supposed to be interchangeable/offset in favour of employer liquidity, or the purpose of this MPF serving as pension fund is essentially defeated.
3 - Honestly I won't say MPF is in fact "confusing" or "complicated". You and your employer pay 5% of your salary each month, to a legally approved trustee (which are banks and large insurance companies), they earn a fee from that (~2%), and **try** to give you return (in effect around 3-5% on avg over last 20 years, for sure there's not 5% in recent years). So you can see the ridiculous part here, the ONLY party winning *for sure* in this stupid game is the trustees (i.e. banks and insurance companies). The rest of us who are legally required to pay 5% of our salary monthly, can only pray to god that the earning can even pay the management fee ... most won't even imagine a possibility of huge gains when they get their money back at retirement ... Long story short, Bank/Insurance companies win, people are forced to save 5% monthly but possibly without gains, you get back (most likely) the money which did not outrun the inflation over the years at your retirement. Plus this MPF doesn't cover your medical expenses or let you withdraw for buying homes. AND with the current trend of HK government pouring money into huge (perhaps overpriced) infrastructure projects ("Lantau Tomorrow" and "Northern Metropolis"), there are speculations that eventually the MPF might be used to finance them, sparking worries whether HK people can even get back the money we deposited into MPF over the years.
@@BiscuitGodHK To avoid misleading in your comparison of the two tax system, you should have assumed your parents are staying with you in Singapore and you are entitled to parents tax relief. Then we can see the tax difference basing on the same conditions.
@@pengui6152 It could've been a good case to add to our illustration, but for our case (as well as many HKers who work in SG) we did not bring our parents here. For the comparison in our video (although we did not draw a detailed formula to illustrate clearly, thats on us), I applied married tax allowance, but did not apply dependent parents tax relief for HK tax calculation. You are right but hope my explanation here clarifies our saying in the video. Thanks. :)
Thank you for contributing to the GST, CDC vouchers etc.
新加坡是每年4月中提报去年1月至12月的收入。过后才从5月或6月开始分期付款交，所以是赚钱入口袋1年后才交税。全球没太多国家是这样收税的😄
台灣是五月報稅
兩位的幽默感絕了!
.. thanks Ruby & Benson for sharing Tax Income....in my opinion it's Better to be Tax than Not Tax.... Complicating? Not to be Tax meaning unemployed or No Income ... However, there is no individual income tax in Brunei..
Well that's true, so long as my tax is put to good use we are happy to pay tax :)
如果是新加坡公民的话，可以减少更多需要缴的数目。我每年大约有2~3万新币的收入是不需要缴税的。 EP最低收入（没有bonus）一年72000，扣掉个人和伴侣的relief（3000），还需要缴2580元的税。如果是新加坡人的话，同样的收入，没有双亲需要供养，没有孩子，扣除个人和伴侣的relief，还能扣cpf relief，（NSman relief太少不计算）大约只需要缴1500元的个人所得税。
其實交的金額跟香港差不多。不過香港行預繳。即使之後有試過經濟不景，有稅務寬免一年，但那一年仍然要交稅（當收下一年度）
Next time, it would be good if you can compare the benefits of Singapore CPF and Hong Kong MPF. Which is better for your retirement?
咁資訊性既嘢，你哋講到好Fun，唔悶👍🏻
多謝你留言支持!!
睇你哋片好開心🤣
This is a flat calculation without any government relief. As Singaporeans, we get many reliefs like parents relief, children reliefs, National Service relief (for guys) and even for insurance payout and donations can be used yo reduced total taxable income. I did not need to pay taxes when I was drawing like 6k salary
That's very true, but the truth is we are foreigners 🥲 Thanks for adding info from a citizen's perspective tho!
@Biscuit God right! Does HK has tax relief as well? Curious to understand
@@expresssoh Yes there are. Normally a basic allowance, and then children/siblings/parents allowance on top
@@BiscuitGodHK thanks for sharing!
Provisional tax is an estimated tax charged for the ensuring year that is likely to be owed by a taxpayer for a year of assessment. Taxpayers are required to pay provisional tax based on the previous year's net chargeable income. The reason for collecting provisional tax is to ensure that taxpayers pay their taxes in a timely manner, rather than waiting until the end of the year of assessment. Provisional tax is not paying tax in advance, nor paying tax on future income.
The explanation makes sense but still it might be hard to tell whether it's worth the administrative cost to charge provisional tax🤔 In terms of cash flow if we are earning similar income every year it might not make much difference
本身諗緊會唔會係廣告片 😂 其實香港如果冇乜資產報薪俸稅正如餅神講真係抄個數字落張綠色炸彈再簽名就搞掂! 我之前係用PPS (繳費靈) 交稅嘅, 可以自行分好多次畀 😏😏 但當然都係要deadline前交齊
所以其實都唔係話香港果個完全唔掂既，不過新加坡真係做得更好
Your vlog is very good. I wish both of them enjoy living in Singapore. I also have to pay my personal income by monthly payment ( 12 months ) through Giro and is interest free.
interest free installments tax payment is really a big relief to many people :)
Singapore tax 仲有可以扣GST
❤ Ruby n Benson. Happy couple
😂係澳洲，出糧嗰陣已經扣起咗。對我嚟講，出糧已經扣咗，我就無咁覺~之後每年報完稅，會退返扣多咗的稅~~
即係強姦金D玩法🤣
無分別，都係搶錢
同美國一樣🥲
我都係用智方便，其實真係好唔方便。介面好老土，又搵唔到想要嘅嘢。scan QR code, 網上填左，但又唔知點加附加文件。搞左幾次都唔掂，都係填返紙本寄出算。P.S. 我唔係填稅務申報，係填其他政府機構文件。都一樣not user friendly.
公平講句，其實智方便係用到既，當然個UX仲有好大改善空間，所以我COVID前其實都係冇用過
Ben San, I would like to consult you on the matter of MPF. What is the meaning of
1)"offsetting mechanism"
2)"severance and long-service payment"
3)why is the mpf system causes so much confusion and complicated compared to the cpf? I'm very curious.
Now the minimum wage in HK is $40 hourly rate, on the monthly average is about hk$900 and the mpf contribution total rate is 10%, definitely not enough for retirement. Don't talk about the future inflation down the road.
I hope it doesn't get you agitated 😂 i sincerely want to know.
MPF in Hong Kong is simply a token mandatory pension fund which was implemented since 2000. With how it is being managed, the current inflation rate, and the prospect of Hong Kong economy at least in the coming 15-20 years, I dont see how it can serve its purpose of securing a viable retirement life for Hong Kong people ...
Back to your questions:
1&2 - Essentially referring to the same mechanism of using the employer-funded portion of MPF to pay off severance/long-service payment. So in Hong Kong if you are employed by the same employer for more than 2 years and laid off by your employer with immediate effect (which requires a severance payment to employee by law), your employer can legally withdraw money from the employer funded portion of your MPF (i.e. the 5% equivalent of your salary he paid every month) to partially or fully finance the severance fee. This practice was inherited from 1974 enacted Employment Ordinance.
This "offset" mechanism was heavily criticized by pro-labour parties from both pro-dem (RIP btw) and pro-BJ sides but was supported by large corporations as well as legislators of Functional Constituencies who represent commercial interests of such corporations and SMEs. The reason of criticism is clear as "severance payment" and pension fund are fundamentally separate concepts and they are not supposed to be interchangeable/offset in favour of employer liquidity, or the purpose of this MPF serving as pension fund is essentially defeated.
3 - Honestly I won't say MPF is in fact "confusing" or "complicated". You and your employer pay 5% of your salary each month, to a legally approved trustee (which are banks and large insurance companies), they earn a fee from that (~2%), and **try** to give you return (in effect around 3-5% on avg over last 20 years, for sure there's not 5% in recent years). So you can see the ridiculous part here, the ONLY party winning *for sure* in this stupid game is the trustees (i.e. banks and insurance companies). The rest of us who are legally required to pay 5% of our salary monthly, can only pray to god that the earning can even pay the management fee ... most won't even imagine a possibility of huge gains when they get their money back at retirement ...
Long story short, Bank/Insurance companies win, people are forced to save 5% monthly but possibly without gains, you get back (most likely) the money which did not outrun the inflation over the years at your retirement.
Plus this MPF doesn't cover your medical expenses or let you withdraw for buying homes. AND with the current trend of HK government pouring money into huge (perhaps overpriced) infrastructure projects ("Lantau Tomorrow" and "Northern Metropolis"), there are speculations that eventually the MPF might be used to finance them, sparking worries whether HK people can even get back the money we deposited into MPF over the years.
Ben San, thank you for taking the time to explain, appreciated.
at least you need to multiple your net monthly wages by 8%, GST...
Not everything has 8% GST.
SG’s biggest relief is CPF, Parents and child relief. Some of my friends almost pay no tax!!! Have 3 child and you will be rich!!
Lol having 3 children always spends a lot haha, not sure if it makes you rich or the other way round
I have 3 kids and I don’t feel rich 🫤
看你们开心的样子就知道新加坡比较好🤣🤣🤣
應該說看著我們身處的HDB，就知道 ... 🤣
几时和Ben Sir拍三代同堂的HDB给大家看 🤣
我地大陆仔过来打份工都觉新加坡税金真系好抵...大陆月收入5k新纸左右开始就要25%噶税....16k开始45%.... 至于福利呢，一线城市（除咗深圳）医疗系比香港新加坡平兼容易睇到医生噶，其它呢就大家都明。不过今时今日新加坡租房，感觉已经系另一种税....
S$5K/mth 25% ... 這個包括社保醫保嗎？
@@BiscuitGodHK 唔包啊大佬....
@@halfcookedegg313 嘩咁真係躺平實際D
多謝分享，唔怪得之咁多人才去咗新加坡😂
其实新加坡都有供养父母的免税额，还有供女佣免税，PR和公民都有。外国人不知道有没有
其實是有啦，問題是我父母不在新加坡🥲
@@BiscuitGodHK 當兵還有 NS relief.
係呀。我爸爸中風行動不便，所以我可以claim 免稅relief，供養殘障父母有$14,000新幣的免稅額喔
@@BiscuitGodHK To avoid misleading in your comparison of the two tax system, you should have assumed your parents are staying with you in Singapore and you are entitled to parents tax relief. Then we can see the tax difference basing on the same conditions.
@@pengui6152 It could've been a good case to add to our illustration, but for our case (as well as many HKers who work in SG) we did not bring our parents here. For the comparison in our video (although we did not draw a detailed formula to illustrate clearly, thats on us), I applied married tax allowance, but did not apply dependent parents tax relief for HK tax calculation. You are right but hope my explanation here clarifies our saying in the video. Thanks. :)
😆
SRS 如果你願意進貢 都可以有Tax Relief
饼神入错行😂应该混娱乐圈🎉❤
講呢D
冇講PR都可以開SRS Account去免稅~
長知識😯
台灣也可分期啊，配合的銀行蠻多的，每年五月繳稅
免息？
@@xiaoqiulow2878 對阿，有配合的信用卡可免息
其實香港 eTax 好方便，入面已經填好晒僱主嗰邊既資料, 例如你嘅年收入, 同埋如果你上一年有用過, 佢都已經pre-set 晒. 你要填既只係自己既扣稅部份, 之後 submit, 就已經大約知下年要俾幾多錢,其實真係好方便.
相反加拿大交稅好麻煩好複雜, 其實香港真係好先進好有效率.....
我個人從沒填過稅表，也沒額外收入，所以每年都是雇主報稅，我直接就是同餅神講得，自動通銀行戶口分期扣稅。我不用查，也不用看，反正也不怕欠稅，自動的。
天外有天，相信香港比上或者不足，但比下都係有餘
👍🏻👍🏻
Ruby,10月份我想去星加坡，請問你認為自由行好還是跟團好呢？
Hello, 睇睇你同行係有幾多人、年齡層係點，不過多數都係自由行+買Klook/KKday 套票
一次過可以玩哂最出名嘅景點同遊樂設施^^
Hello Ruby & Benson
其實我都諗緊移民去新加坡，我想問吓你哋之前點樣喺香港搵到喺新加坡嘅工作，然後從咩途徑可以移居新加坡
我個case係公司類似internal transfer，所以就冇經歷搵工呢個過程🙂
税一定要交，唔係會有好的福利？物超所值。
同意，所以交得抵唔抵咪睇個政府做成點😉
香港用電子報稅超方便👍👍👍
这是没减去CPF的吧，公民的CPF不用交税
淨係國家撐腰，大灣區資源
又有國家安全
交50%稅都抵啦
牛油又平萵英國
永居同公民既稅務豁免會更多。
No one gets PR these days for immigrants. Seems not practical.
有無揀分期？我見到覺得好正，不過驚過唔到錢唔知就gg所以都係一炮過安心d😅
黎到新加坡，點先識到多啲香港人？
direct message Ruby IG 🤣
香港没军队没外交部，缴的税却跟新加坡差不多。换个角度分析，其实比新加坡人多缴了。
你有沒有計劃埋星加坡的CPF呀？免税的。
冇錯，但我暫時仲係EP所以未有供CPF 🙂
@@BiscuitGodHK 退休時，CPF是很有需要的。
PR 才供!
新加坡揸的士、裝修佬駛唔駛交稅？
嘩呢個真係唔知😂
自雇人仕自由報稅。交稅額睇申報收入
竟然有人會話香港報稅方法唔舒服⋯係加拿大報稅就真係好煩
我香港網上報稅10分鐘搞掂，仲有個calculator 俾你預計邊啲位置可以慳稅。唔明白點解難用😂
我地未經歷過加拿大報稅地獄，有怪莫怪🥲
@@cyrus4788 其實係用到既，只係新加坡UX真係更勝一籌
抵人地贏啦
美國出糧已經扣稅，佢怕啲人交唔出 🤣
會唔會係因為美國人spending habit都係比較自由放任🤔
@@BiscuitGodHK 絕對係，如果唔出糧時扣，之後先交係交唔出。之前covid開始時，國會議員話全美70%人拎唔出usd400緊急錢（差不多係咁，唔記得實際%同數字）😰
出去做的人😂😂😂😂😂
我唔做舞男，哪有錢 ...
講下呢啲話題咪幾好，個啲飲飲食食旅行鳩烏好悶
有時係有D掙扎，講呢類話題就驚有爭議，講歷史野又無人睇，講飲飲食食就好似你話齋🥲
智方便？ 正苦提供的嘢唔係被逼都唔會用
我交的税金可以買架iPhone 14 pro max 😬
為了國家，區區iPhone算什麼！？🤣🤣🤣🤣
最惨我唔是居民，得不到国家的利益😂