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  • November 21, 2014
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  1. Median pay falls below $10,000 a month

    Posted Aug 30th 2003, 12:00am by Kelvin Chan

    ... Key salary measure hits its lowest point in almost seven years For the first time in almost seven years, the median income in Hong Kong has fallen below the psychologically important level of $10,000 a month, according to the government's latest quarterly employment survey. In the second quarter this year, the median income for Hong Kong workers with full-time employment fell ...

  2. Home financing a challenge but having a local connection helps

    Posted Aug 22nd 2003, 12:00am by Kelvin Chan, Ravina Shamdasani

    ... Agents say HK-based partners and investment vehicles are often used With property developers increasingly seeing mainlanders as a source of income, a question is being raised: how would ... for Standard Chartered Bank said. 'If they cannot prove they have a consistent source of income generated within Hong Kong', then they won't be eligible for a mortgage. Bank of East ...

  3. Credit agencies await budget strategy

    Posted Aug 20th 2003, 12:00am by Kelvin Chan, Klaudia Lee

    ... the bigger question was whether the government would bring revenue and spending in line with each other. This could include a new sales tax and getting rid of income-tax exemptions, Mr Coulton said. ... Sum said the government should consider measures other than raising taxes to generate income, such as issuing bonds, while Chan Kam-lam, economic affairs spokesman for the Democratic Alliance ...

  4. Rich-pickings ride out the economic storm

    Posted Oct 01st 2003, 12:00am by Kelvin Chan

    ... Manila, Jakarta and Kuala Lumpur. Of the respondents, 19,222 were affluent people - defined in Hong Kong as the top 30 per cent of income earners, typically earning double the average income ...

  5. Deficit up 11.5pc in first four months

    Posted Sep 02nd 2003, 12:00am by Kelvin Chan

    ... Ellis said. The budget deficit has grown to record levels as a result of shrinking revenue from a narrow tax base and heavy reliance on income from the collapsed property sector. In April, ... on the amount of tax collected and the level of the government's investment income, Mr Ellis said. Investment earnings will be determined by performance of the stock market, which has looked ...

  6. Housing Authority's average subsidy on flats is $1,882 per year

    Posted Jul 17th 2003, 12:00am by Kelvin Chan

    ... rent of more than 10 per cent of tenants' median income, as required under a court ruling last week. After the ruling, two tenants filed for refunds with the Small Claims Tribunal. ... the Housing Authority ran up a deficit of $1.733 billion in the year ending in March. The figure includes rental and other income of $9.75 billion, expenditure of $10.96 billion and a one-time gain ...

  7. Couple missed deadline by a day

    Posted Jul 12th 2003, 12:00am by Kelvin Chan

    ... But for a day's delay, Scott and Karin Thompson's transcontinental love story might have had a happier ending. Instead, because of the government's new rule requiring dependants to obtain a work visa before getting a job, Karin's dream of being able to have her own career and income have been thwarted. After getting married in Karin's home country ...

  8. Local professionals could slip through loophole, says tax expert

    Posted Aug 04th 2003, 12:00am by Kelvin Chan

    ... Hong Kong firms wanting to set up joint ventures on the mainland will still need annual income of at least US$20 million and must employ at least 200 professionals and 60 local staff, ...

  9. Fixing the economy will be harder now

    Posted Jul 08th 2003, 12:00am by Kelvin Chan

    ... mounted over the past few years as one of its main sources of income - land revenue - has dried up, while its costs, including civil service pay, have remained high. It has promised to cut ...

  10. Deficit tipped to soar past forecast

    Posted Jul 23rd 2003, 12:00am by Kelvin Chan

    ... Hong Kong's budget deficit for 2003-2004 will probably overshoot the government's official forecast by nearly $18 billion, according to calculations by international accounting firm Ernst & Young. Extra spending to cope with the Sars outbreak and lower income because of slower-than-expected economic growth were two major factors that would push the deficit ...




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