2011 HK Budget - 6,000 HKD only for Permanent Residents?

[bdw]

I'm against the MPF method too. For real, what would 6k be worth, say like in 30 years time?

If it returns 5% per year, then it will be worth $24,696.81
If it returns 10% per year, then it will be worth $95,178.56
If it returns 20% per year, then it will be worth $1,186,882.00

Additionally, as expats you dont need to wait 30 years to get to it. You can withdraw it the day you leave HK for good as long as you declare you will not be coming back to HK.

[emmie]

Keywords: "I think", "I might"

"Not too sure", again?

Like TigerSun said last night...

You tease...

[DarrenChan]

This new proposal shows the HK government at its worse...easily swayed by public opinion.

Whilst I would be happy to pocket HK$6,000, one has to ask...what is this money supposed to represent?

If it is meant to give back to taxpayers who had been overtaxed, then pay them back and not to everyone.

If it is meant to be a windfall for every HK'er, then they should pay to everyone...babies included.

I reckon that if enough of us march on Sunday, we can get enlarge the pool of recipients to everyone...babies, kids, domestic helpers. Everyone.

[krypton]

So now PRs who pay sufficient tax get a total benefit of 12k instead of the 6K earlier.... right?

[Dreadnought]

I have seen the gummints hand out tax rebates during difficult times, to encourage consumption (preferably on essentials), thereby supporting the retail industry. Rarely have I seen the gummint give a tax rebate and encourage its recipients to stash it away in savings.

Times appear to be good at the moment and if people don't save now, then when will they? Isn't a HKD 6,000/- hand-out to everyone simply going to further push up inflation?

My question is, what action has the gummint proposed to take to manage food price inflation and what does that have to do with this HKD 6,000 business?

[reprazent]

If it returns 5% per year, then it will be worth $24,696.81
If it returns 10% per year, then it will be worth $95,178.56
If it returns 20% per year, then it will be worth $1,186,882.00

hmm, i thought the 6k handout was an one time only thing?

[Mat]

I think the problem is not the 6000 dollars, the problem is why do we have such a huge surplus.

it's a gvt, not a private company running on profits

while it is of course better to have a surplus instead of a huge deficit as in some so called developed countries, one has to ask, why does the gvt run so high surpluses instead of addressing recurrent issues (ie extreme poverty, lack of affordable property for a certain fringe of the population, lack of proper education for a part of the population, lack of any decent cultural activites, lack of a truly world class museum, lack of decent retirement scheme....)

[Mat]

hmm, i thought the 6k handout was an one time only thing?

You are not in finance aren't you?

[TheBrit]

hmm, i thought the 6k handout was an one time only thing?

It is. However, if you invest it and it generate positive returns after inflation is taken into account then it would be worth more in the future....

[BryanL]

So what is the final decision, or has it not come to one yet? Do non PR's get the $6k into their MPF as well?