Hi,
I am renting a room on a shared apartment, is that amount deductible from my income taxes? The thing is my name is not in the contract, I just pay my roommate monthly, so not sure about it. Anybody in the same situation?
Hi,
I am renting a room on a shared apartment, is that amount deductible from my income taxes? The thing is my name is not in the contract, I just pay my roommate monthly, so not sure about it. Anybody in the same situation?
First, it depends whether your employer offers this. Not all do.
Second, your employer will need the paperwork, i.e. lease and rent receipts in your name, in case of IRD audit.
(Unless it's changed since it was last an option for me.)
Your employer needs to have some proof of your rental - normally that means a stamped tenancy agreement and receipts showing rental paid.
Some info here: GovHK: How the Provision of a Place of Residence to an Employee is Taxed
No,
nothing to do with my employer.
BTW is there a minimum income under which there is no need to pay taxes?
Last edited by zumbito; 28-10-2014 at 11:27 AM.