Latest: Hong Kong cancel GST implemenation!!
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maurizio13 08 dec 2006 1257 am wrote:
1.Please don't distort the facts, I was comparing a Singapore HDB 3-room (67 sq.m) apartment worth SGD 263,000 in a central district, with an equivalent Hong Kong public housing apartment in Sha Tin (62 sq.m) worth HKD 1,800,000 in the central district.
reply:for CENTRAL AREA in spore called 3 room flat or consisting two bed rooms flat$263,000 is one of the 2 highest sold few months ago.OK i accept $263,000 as the current price in Dec 2006 for market went up.
But for HK,SHA TIN is not a central area.20 years it was a rural area full of
crops and cows.
map of HK to help you
you can call part of HONG KONG Island and part of Kowloon as CENTRAL AREA!!
we take formerly public housing in LAM TIN as example.
Lets compare like with like.I am using properties ends with
COURTS which are formerly public housing,like our spore EC.
Selling prices on gross floor area from HK$1600 to 2000 per sq foot.
Say a 900 sq ft on gross floor area x HK$1800 psf=HK$1,620,000.(S$324,000)net area is only 720 sf or 67m2!!
so you see a Singapore HDB 3-room (67 sq.m) apartment worth SGD 263,000 in a central district.
if you buy a private built apartment in LAM TIN,prepare to pay 75 %
to 100 % more!!
HDB loan rates is around 3.7% vs HK above 5%!!
2.Spore is based on actual income of last year for assessment and can be paid by instalement.
HK based on estimated next year income and you need by one lum sum. -
Originally posted by lionnoisy:
maurizio13 08 dec 2006 1257 am wrote:
1.
reply:for CENTRAL AREA in spore called 3 room flat or consisting two bed rooms flat[b]$263,000 is one of the 2 highest sold few months ago.OK i accept $263,000 as the current price in Dec 2006 for market went up.
But for HK,SHA TIN is not a central area.20 years it was a rural area full of
crops and cows.
In the past, didn't our central area use to be that too, with cow drawn carts.
map of HK to help you
you can call part of HONG KONG Island and part of Kowloon as CENTRAL AREA!!
we take formerly public housing in LAM TIN as example.
Lets compare like with like.I am using properties ends with
COURTS which are formerly public housing,like our spore EC.
Selling prices on gross floor area from HK$1600 to 2000 per sq foot.
Say a 900 sq ft on gross floor area x HK$1800 psf=HK$1,620,000.(S$324,000)net area is only 720 sf or 67m2!!
so you see a Singapore HDB 3-room (67 sq.m) apartment worth SGD 263,000 in a central district.
So you are telling me that in Hong Kong an equivalent apartment is SGD 324,000, whereas in Singapore the equivalent apartment is cheaper because it cost SGD 263,000?
if you buy a private built apartment in LAM TIN,prepare to pay 75 %
to 100 % more!!
HDB loan rates is around 3.7% vs HK above 5%!!
Housing loans in Hong Kong is interest free.
http://www.housingauthority.gov.hk/en/residential/shos/subsidyrepayment/0,,1-0-0-0,00.html
2.Spore is based on actual income of last year for assessment and can be paid by instalement.
HK based on estimated next year income and you need by one lum sum.
You didn't answer my question of; "In what way does my "Interest free monthly installment is paid in advance before they make any assessment on you income" contradicts with IRAS?"
In case you don't know, Hong Kong has a deduction for basic allowance of HKD 100,000, married person's allowance of HKD 200,000, child allowance of HKD 40,000, etc. So if you are a family of 4 (with 2 child) unless you are making more than HKD 380,000 a year, you don't have to pay any income tax and there is NO GST (indirect tax or ad valorem) to pay. HKD 380,000 is equivalent to SGD 76,000, which is about SGD 6,333.33 per month. Yes, if you make SGD 6,333 per month in Hong Kong, you don't have to be subjected to tax!!!
You should go read my above post, about how much paying in advance affects your loss in interest income ( interest rate of 1%).
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Junior Member
Joined: 26 Sep 2006
1.No interest but short life scheme.Housing loans in Hong Kong is interest free.
but it was a short life scheme for 1 and half yearThe HALS was introduced in January 2003,.....
2. household earning 75% higher than average income and pay no income tax----is it fair??
The Housing Authority (HA) endorsed the immediate termination of the Home Assistance Loan Scheme (HALS) on 14 July 2004.
maurizio13 wroteIn case you don't know, Hong Kong has a deduction for basic allowance of HKD 100,000, married person's allowance of HKD 200,000, child allowance of HKD 40,000, etc. So if you are a family of 4 (with 2 child) unless you are making more than HKD 380,000 a year, you don't have to pay any income tax and there is NO GST (indirect tax or ad valorem) to pay. HKD 380,000 is equivalent to SGD 76,000, which is about SGD 6,333.33 per month. Yes, if you make SGD 6,333 per month in Hong Kong, you don't have to be subjected to tax!!!
my reply:
You should go read my above post, about how much paying in advance affects your loss in interest income ( interest rate of 1%).
maurizio13 wrote on 06.dec 2006Average household income is HKD 18,884 and 30.6% (HKD 5,779) goes to housing
If a household in HK earnoing HK$31,666 or HK$380,000
,as told by maurizio13, and it is damn good 75 % above
average and need not paying income tax in HK,
do you think anything wrong with HK taxation sys??
3.Low tax or no tax are not always good things.
Read how HK people react to government lack of funds to do
things which are necessiarily then you know why tax is an necessarily
evil!!
NO MONEY NO TALK.
4.HK selling public assets to reduce budget deficit
all the commerical shopping centers in public housing was sold to a Link Managemant Ltd.
one of the main purposes of this sale is dressing the budget of HK ..
This like fund manager window dressing sales before book closed. -
Originally posted by lionnoisy:
Junior Member
Joined: 26 Sep 2006
1.No interest but short life scheme.
[b]
Short life scheme? You should go read the link properly again, please open up your eyes.
If a household in HK earnoing HK$31,666 or HK$380,000
,as told by maurizio13, and it is [b]damn good 75 % above
average and need not paying income tax in HK,
do you think anything wrong with HK taxation sys??
3.Low tax or no tax are not always good things.
Read how HK people react to government lack of funds to do
things which are necessiarily then you know why tax is an necessarily
evil!!
There is nothing wrong with the Hong Kong system, it just goes to show that the government is more efficient at using the citizen's resources. I certainly wouldn't call taxing citizens higher so that I can have a higher salary a necessary evil, unless I am evil to begin with.If you run the government, I suppose you will tax citizens 90% of their income, so that they will only be left with 10% to spend and justify your actions as "necessary evil".
NO MONEY NO TALK.
4.HK selling public assets to reduce budget deficit
all the commerical shopping centers in public housing was sold to a Link Managemant Ltd.
Since when did the link say that the sale was to reduce budget deficit? Please don't make your own assumptions. What kind of qualification do you have to make such analysis by yourself?
one of the main purposes of this sale is dressing the budget of HK ..
This like fund manager window dressing sales before book closed.[/b]
You have not answer my previous 2 post about whether my statements contradicts IRAS' and about "So you are telling me that in Hong Kong an equivalent apartment is SGD 324,000, whereas in Singapore the equivalent apartment is cheaper because it cost SGD 263,000? "!!! You are good at avoiding questions and opening up new points to evade the previous questions. -
sure, if u protest w/o a permit, they charge u.Originally posted by fudgester:They will state that the absence of protests and riots outside Parliament House is an indication of our support for their plan.
if u apply for a permit, u get rejected.
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Sure, they can lie to the public, by stating that there are no protests outside parliament house therefore people largely supports and agrees with them, and conveniently omits mentioning about their strict laws against public speaking under the guise of Public Peace.
But they cannot lie to themselves about just how unpopular they are becoming every 5 years.
The votes next GE, shall mirror the state of their reputation! -
they will still win and say something about the strong mandate...
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1.
You have not answer my previous 2 post about whether my statements contradicts IRAS' and about "So you are telling me that in Hong Kong an equivalent apartment is SGD 324,000, whereas in Singapore the equivalent apartment is cheaper because it cost SGD 263,000? "!!! You are good at avoiding questions and opening up new points to evade the previous questions.
ya.u can read my answers in the above and links to see for urself the sales
of properties in HK ans spore.
for your references:
hk properties transactions
spore HDB sales
spore private apartment/condo sales
under ''Property Market Information'' on left and ''Private Residential Property Transactions with Caveats Lodged''
2.SPORE ALSO give money for u to buy flat.
CPF_Housing_Grant_Scheme
Additional CPF Housing Grant
so a family earning below S$1500 pm can get a grant,no need to return,
of S$50,000 or S$60,000 if he stay near parents.
This scheme STILL WORK. -
Originally posted by lionnoisy:
You still have not answered my question!!!
1.
ya.u can read my answers in the above and links to see for urself the sales
of properties in HK ans spore.
for your references:
[b]hk properties transactions
spore HDB sales
spore private apartment/condo sales
under ''Property Market Information'' on left and ''Private Residential Property Transactions with Caveats Lodged''
2.SPORE ALSO give money for u to buy flat.
CPF_Housing_Grant_Scheme
Additional CPF Housing Grant
so a family earning below S$1500 pm can get a grant,no need to return,
of S$50,000 or S$60,000 if he stay near parents.
This scheme STILL WORK.[/b] -
Originally posted by lionnoisy:
Are those public housing or private housing?
1.
ya.u can read my answers in the above and links to see for urself the sales
of properties in HK ans spore.
for your references:
[b]hk properties transactions
spore HDB sales
spore private apartment/condo sales
under ''Property Market Information'' on left and ''Private Residential Property Transactions with Caveats Lodged''
2.SPORE ALSO give money for u to buy flat.
CPF_Housing_Grant_Scheme
Additional CPF Housing Grant
so a family earning below S$1500 pm can get a grant,no need to return,
of S$50,000 or S$60,000 if he stay near parents.
This scheme STILL WORK.[/b]
I thought we were comparing average public housing, then you brought in central location, now we are comparing private housing? You find that you can't win the discussion on public housing, so you bring in new topic like private housing.
You still avoiding my questions from earlier on.
Enjoy yourself!
Good bye! -
oh sorry i dunt know u are not familiar with spore.
HDB is spore public housing,but can be openly transacted in open market to
citizens and PR.
i am still compare public housing .ok i am also tired.
2.HK budgets deficit/surplus
source of chart
The consolidated deficit for 2002-03 is forecast to be HK$70 billion,
For 2003-04, total government spending is estimated to be HK$252.9 billion and revenue $203.9 billion. The fiscal deficit will be $49 billion (or 4 per cent of GDP),
In 2004/2005,HK$12 billion surplus, but land premium income is HK$31 billion
In the Consolidated Account, I estimate that a surplus of $4.1 billion will be achieved in 2005–06.
pl note that HK is selling fore father assets like shopping centers in
public housing to raise funds,etc
3.Does HK need to improve the public finance?
with so much deficits and imbalance econmony base,HK is in really
poor shape.I wont tell you.Find out yourself. -
With influx of FT, it will be less than $1500.Originally posted by nismoS132:let's drive home another point.
100 JPYen is worth S$1.35.
a Sony DSC R1 costs aprroximately 75,000 JPYen, which is approximately S$1000. go to simlim, and the cheapest you can get that camera for is S$1400, official selling price of S$1599.
a junior web designer in singapore (if lucky), gets a starting pay of $1500, - 20% for CPF.
a junior web designer in japan, gets a starting pay of 200,000yen, -10% for tax, + transport allowance, + medical insurance, + rent allowance.
Japan discourage foreigners to work in Japan. -
the more we read the more we wanna migrate
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HK pay is double that of Singapore for the same job.
There is no tv license fees in Hk but in Singapore, it is $130. -
then why am i not driven out of japan?Originally posted by PoRen:Japan discourage foreigners to work in Japan. -
For most people, finding a roof over your head is more important than getting a camera lensOriginally posted by LazerLordz:Nikon lenses cost 120 bucks cheaper in Mongkok, HK than Singapore.
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our government will never have this but the least they could do was not to raise anymore taxes.
well because since 66.6% voted for them, it means that we will support their decisions. -
This Lionnoisy always like to talk c o c k ...signOriginally posted by maurizio13:
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discourage, not ban.Originally posted by nismoS132:then why am i not driven out of japan? -
$110 not $130Originally posted by PoRen:HK pay is double that of Singapore for the same job.
There is no tv license fees in Hk but in Singapore, it is $130. -
2.pl give proof.Originally posted by PoRen:HK pay is double that of Singapore for the same job.
.
have you compare the cost of housing vs income as locals,
not expats with company subsidy.pl read the info in this
thread then you know the cost of tiny flat in HK.
Many sporen cant stay in tiny flat,like 2 room type HDB(not 2 bed room)
which is less than 60m2.
pl assess a place as a package.
Do you know 101 men,one is 12 years old,caught in Tsim Sha Tsui
on Sun 07 Jan 2007,where they congregated to ''influence'' village election.
They were going to board a coach.Ha Ha.So well organise of Gangsters. -
Any Hongkongers who have moved to Singapore and they can tell you that. Many moved back because cost of living is only slightly cheaper than that of Sgp.Originally posted by lionnoisy:2.pl give proof.
have you compare the cost of housing vs income as locals,
not expats with company subsidy.pl read the info in this
thread then you know the cost of tiny flat in HK.
Many sporen cant stay in tiny flat,like 2 room type HDB(not 2 bed room)
which is less than 60m2.
pl assess a place as a package.
Do you know 101 men,one is 12 years old,caught in Tsim Sha Tsui
on Sun 07 Jan 2007,where they congregated to ''influence'' village election.
They were going to board a coach.Ha Ha.So well organise of Gangsters. -
Also, cost of property in HK is not doubled that of Singapore. At the end of the day, HongKongers have a much higher disposable income than Singaporeans.
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for camera or specs?Originally posted by LazerLordz:Nikon lenses cost 120 bucks cheaper in Mongkok, HK than Singapore. -
Mmh if taking the bitter pill now can have better tomorrow, I suggest increasing the dosage to 50% GST.Originally posted by mistyblue:LHL always say we need to take the bitter pill to have a better tomorrow.
So when is the better tomorrow going to start??? When I die?
Anyway nice to hear that the HK government listens to the people.. didn't know that governments actually listens to citizens. Growing up in Singapore make me think that things don't work that way...