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All in one, Personal Tax Policies in Popular Locations for Immigration

2022-06-16

To leave your home, immigrating to another country is not an easy decision to make. It is not only about adapting to a new and unfamiliar environment and culture, but also about finding new residence and jobs. Therefore, Pacers would like to assist you all by listing tax information of some popular locations for immigration (Taiwan, Australia, and the United Kingdom). We hope it is helpful if you are considering immigration.

Below is some personal tax information for the countries. (Information is extracted in 2021)

 Hong KongTaiwanAustraliaThe United Kingdom
 Salaries Tax/Personal AssessmentIndividual Income TaxIncome TaxIncome Tax
Source of incomei. Work incomei. Work income
ii. Income generated from a cooperative or operating business in a partnership
iii. Dividend income
i. Work income
ii. Rental income
iii. Age pension, Superannuation, Government assistance
iv. Interest income
v. Dividend income, and
vi. Income generated from a cooperative or operating business in a partnership, and
vii. Other income (e.g. Insurance claim, winning a lottery)
i. Work income
ii. Rental income
iii. Interest income
iv. Dividend income
v. Pension
Tax RegimeProgressive systemProgressive systemProgressive systemProgressive system
Year of AssessmentFrom 1st April to 31st March in the following yearFrom 1st January to 31st DecemberFrom 1st July to 30th June in the following yearFrom 6th April to 5th April in the following year  
Tax RateAnnual income (HK$) On the first HK$50,000 — 2%

On the next 50,000 — 6%

On the next 50,000 — 10%

On the next 50,000 — 14%

Remainder — 17%
Annual income (TWD) 0 – 540,000 (About HK$0 – HK$149,000) — 5%

Annual income (TWD) 540,001 – 1,210,000 (About HK$149,000 – HK$334,000) —12%

Annual income (TWD) 1,210,001 – 2,420,000 (About HK$334,500 – HK$669,000) — 20%

Annual income (TWD) 2,420,001 – 4,530,000 (About HK$669,000 – HK$1,253,000) — 30%

Annual income (TWD) Above 4,530,000 (About HK$1,253,000 or above) — 40%
Annual income (AUD) 18,201 – 45,000 (About HK$100,000 – HK$255,000) — Income above AUD18,201 is calculated at 19%

Annual income (AUD) 45,001 – 120,000 (About HK$255,000 – HK$685,000) — Income at AUD5,092+AUD45,001 is calculated at 32.5%

Annual income (AUD) 120,001 – 180,000 (About HK$685,000 – HK$1,020,000) — Income at AUD29,467+AUD120,001 is calculated at 37%

Annual income (AUD)
180,001 or above (About HK$1,020,000) — Income at AUD51,667+AUD180,001 is calculated at 45%
Annual income (£) 12,571 – 50,270 (About HK$133,000 – HK$532,000) — 20%

Annual income (£)
50,271 – 150,000 (About HK$532,000 – HK1,588,500) — 40%

Annual income (£)
150,001 or above (About HK1,588,500 or above) — 45%
Minimum number of days stayed that will be required a tax filingMore than 59 daysMore than 90 daysNoMore than 59 days
Tax filing periodWithin one month after tax return is received1st May to 31st May1st July to 31st October5th April to 31st January in the following year
Tax filing methodsAfter completion of tax return, you may submit it by:
1. Send the returns by post
2. eTAX System
1. By going to Revenue Service office or National Tax Bureau in person,
2. By e-Filing software of the Ministry of Finance
3. By online e-Filing system
1. By online system1. By online system
Tax payment methods1. By cash or cheque (Post offices, convenience stores or Revenue Tower)1. By cash (bank or convenience stores)
2. By ATM
3. By credit card
4. By bank transfer
5. By mobile payments
Employers will deduct corresponding tax amount when paying wages. If you need to pay an overdue tax, you may
1. Pay by cash (Australian Taxation Office)
2. Pay by credit card
3. Pay by bank transfer
Employers will deduct corresponding tax amount when paying wages. If you need to pay an overdue tax, you may
1. Settle the amount through your employers or your pension providers
2. Follow methods listed in letters issued by Her Majesty’s Revenue and Customs

Except for the tax regime, deductions are important when calculating final tax. We have summarized differences in deductions in different countries and below is the table:

Allowances/ExemptionsHong KongTaiwanAustraliaThe United Kingdom
Basic living expenseNoChange across years (When greater the allowances, basic living expense will be used to calculate allowance)NoNo
Restrictions on ApplicationNoNoNoAnnual income is less than £100,000 (About HK$1,050,000)
Basic AllowanceHK$132,000i. Aged under 70 – NT$88,000 (About HK$24,000)
ii. Aged 70 or above – NT$132,000 (About HK$36,500)
AUD18,200 (HK$100,000)£12,570 (About HK$133,000)
Deductions for a single personNoNT$120,000 (About HK$33,000)NoNo
Married person’s allowanceHK$264,000NT$240,000 (About HK$66,000)NoAn additional allowance of £1,260 will be provided if you fulfil the below requirements, (Total allowance of £13,830) (Additional allowance of HK$13,000,About HK$146,000 in total)
i. You have an annual income below £12,570; and
ii. Your spouse’s annual income is between £12,501 and £50,270
Special deduction for employment incomeNoNT$200,000 (About HK$55,000)NoNo
Allowance for self-employed workersNoNoNo£1,000 tax-free trading allowance (AboutHK$10,500)
Deduction for letting feeNoNoNo£1,000 (About HK$10,500)
Special deduction for savings and investmentNoNT$270,000 (About HK$74,500)NoNo
Starting rate for savingsNoNoNoEligible if your annual income is below £17,570 The allowance will be your income deducted by £17,570 (Maximum allowance is £5,000)
Personal savings allowanceNoNoNoChange according to income level
Annual income (£) 12,571 – 50,270 (About HK$133,000 – HK$532,000) —Allowance (£) 1,000

Annual income (£)
50,271 – 150,000 (About HK$532,000 – HK1,588,500) — Allowance (£) 500

Annual income (£)
150,001 or above (About HK1,588,500 or above) — No Allowance
Child allowanceHK$120,000 (For each)i. Child received/receiving tertiary education or above:NT$25,000 (For each) (About HK$6,900)
ii. Child aged below 5:NT$120,000 (For each) (About HK$33,000)
NoNo
Dependent brother or dependent sister allowanceHK$37,500 (For each)NT$120,000 (For each) (About HK$33,000)NoNo
Dependent parents and dependent grandparents allowancei. Aged 60 or above or eligible to claim an allowance under the Government’s Disability Allowance Scheme: HK$50,000 (For each)
ii. Aged between 55 and 60:HK$25,000 (For each)
i. Aged below 70 – NT$88,000 (For each) (About HK$24,000)
ii. Aged 70 or above – NT$132,000 (For each) (About HK$36,500)
NoNo
Single parent allowanceHK$132,000NoNoNo
Personal disability allowanceHK$75,000NT$120,000 (For each) (About HK$33,000)NoNo (Allowance of £2,500 for blind person) (About HK$26,400)
Disabled dependent allowanceHK$75,000 (For each)NT$120,000 (For each) (About HK$33,000)NoNo

That’s all for the personal tax information of some popular immigration locations, and we hope it can be a helpful reference if you are considering immigration. We will continue to discuss different tax systems with you in the future. If you are interested in any systems or immigration locations, do not hesitate to leave your comment in the comment section.

Pacers is a diversified company providing professional consultancy services. We always think a step further for our clients. If you have encountered any difficulties when filing tax, please feel free to contact us directly on our website or email info@pacersconsulting.com.

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