Tax Planning Case Study
Client Background – Mr. Ho
- Age: 46
- Occupation: Doctor
- Number of children: 3
Property: Bought at HKD6,000,000. Current market value at HKD12,000,000.
Assets: Cash, time Deposits and funds
Goal: Family immigration to UK
We referred a professional consultant to Mr. Ho, who explained a well planned tax planning and arrangement, which was legal not avoidance, could help lessen his amount of tax pay.
Through consultation, Mr. Ho realized that no matter salary, raise in property value, stock gain, rental income from Hong Kong property, dividend and inheritance were taxable. For example, for the flat he bought at HKD6,000,000, and currently valued at HKD12,000,000, the HKD6,000,000 gain was taxable. If Mr. Ho did not plan to hold the flat for the long-term, it was suggested he should sell it. Or otherwise, he should arrange a repurchase or asset restructure for a new “cost” to save his Capital Gain Tax. After the consultation, Mr. Ho smoothly re-arrange his assets for a more efficient succession.
Other Case Study
Client Background - Mr. Chung Age: 64 Occupation: Owner of family business Number of children: 3, youngest daughter aged 31 and just had her 2nd child SolutionsMr. Chung was the second generation owner of his family industrial business. As he was reaching the age of...
Client Background - Mr. Chan & Ms. Chan Age: 40 Occupation: Engineer Status: Married Number of children: 2 Income: Approx. HKD40,000 Property: A 2-bedroom unit in Kowloon bought 10 years ago for residential purpose. Bought at HKD3,500,000. Current market value at...
Client Background - Mr. Chan & Ms. Chan Age: 40 & 35 Occupation: Engineer and Teacher Number of children: 2 Family income: HKD100,000. With HKD30,000 surplus after expenses Property: HKD10,000,000 flat, remaining mortgage HKD6,000,000, repayment period 25...
Client Background - Mr. & Ms. Lam Age: 38 & 36 Occupation: Engineer and Teacher Number of children: 2 SolutionsAiming for better education for their children, Mr. and Ms. Lam planned for immigration after several years of money saving. Ms. Lam compared online...
Client Background - Mr. Suen & Ms. Suen Age: 43 & 41 Occupation: Mr. Suen is a businessman with different business models. Ms. Suen is a full-time housewife with no financial planning experience Number of children: 2 Assets: Cash, stocks, funds and insurance...