Salary Rate
Year
Month
Semimonthly
Week
Day
Hour
Withholding
Salary
HK$300,000
Income Tax
- HK$9,478
MPF
- HK$15,000
Total tax
- HK$24,478
Net pay
* HK$275,522
Deductions ?
A deduction is a specific amount you can remove from your taxable income to lower it.
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- HK$132,000
Marginal tax rate
18.1%
Average tax rate
8.2%
91.8%
Net pay
8.2%
Total tax
Total tax
Net pay
Summary
If you make HK$300,000 a year living in Hong Kong, you will be taxed HK$24,478. That means that your net pay will be HK$275,522 per year, or HK$22,960 per month. Your average tax rate is 8.2% and your marginal tax rate is 18.1%. This marginal tax rate means that your immediate additional income will be taxed at this rate. For instance, an increase of HK$100 in your salary will be taxed HK$18.07, hence, your net pay will only increase by HK$81.93.
Bonus Example
A HK$1,000 bonus will generate an extra HK$819 of net incomes. A HK$5,000 bonus will generate an extra HK$4,097 of net incomes.
NOTE* Withholding is calculated based on the tables of Hong Kong, income tax. For simplification purposes some variables (such as marital status and others) have been assumed. This document does not represent legal authority and shall be used for approximation purposes only.