Fdx Hkg/cdg Cola
06-23-2007, 07:14 AM
#81
Gets Weekends Off
Joined APC: Apr 2006
Position: A300/310 Capt
Posts: 1,642
What I was asking about is US taxes. Isn't a COLA tax free when paying US taxes? And if so, wouldn't the company rather have the pilot get that money, instead of the US government? It costs the company the same amount of money, but would further the pilot's QOL.
06-23-2007, 07:19 AM
#82
Gets Weekends Off
Joined APC: Jun 2006
Position: Part 121, 135 & Military background
Posts: 379
Originally Posted by A300_Driver
When living in a foreign country, only a portion of your income is taxable to the US Government (on the order of $100,000). I don't think any foreign country is going to care if it's a COLA or whatever--it's all income to them!!!
I think you conspiracy theorists need to wait until the LOA actually comes out before you completely bash the union.
I think you conspiracy theorists need to wait until the LOA actually comes out before you completely bash the union.
I realize that is probably not practical for most guys, but info is always a good thing. Now, about cutting your grass......
Stick
Last edited by stickwiggler; 06-23-2007 at 07:21 AM. Reason: gr
06-23-2007, 08:35 AM
#83
Gets Weekends Off
Joined APC: Jul 2006
Position: 777 CAP
Posts: 494
Originally Posted by stickwiggler
I'm just a lowly regional guy, but I find this string interesting. On the topic of tax free, and I've always heard the same thing except I heard it was the first $80,000 that is tax free. But, I've got a buddy flying for Blackwater (defense contractor) and every penny of his $5,000 a WEEK pay is tax free as long as he doesn't step foot back in the U.S. for the entire 365 days. (they work 60 days on 30 off and go to Thailand for 30 days R n R).
I realize that is probably not practical for most guys, but info is always a good thing. Now, about cutting your grass......
Stick
I realize that is probably not practical for most guys, but info is always a good thing. Now, about cutting your grass......
Stick
06-23-2007, 11:07 AM
#84
Gets Weekends Off
Joined APC: Jul 2006
Position: 767 Cap
Posts: 1,306
Originally Posted by fedupbusdriver
What I was asking about is US taxes. Isn't a COLA tax free when paying US taxes?
06-23-2007, 11:28 AM
#85
...Whatever It Is!
Joined APC: Jul 2006
Posts: 4,680
Originally Posted by fdx727pilot
Why would it be? A Cost of Living Allowance is just extra salary paid to employees in high cost situations. It's not like we are in the military, where their housing and subsistence allowances are tax free.
Cost-of-Living Allowance
An allowance paid by your employer for living expenses. Generally, you must include cost-of-living allowances in your taxable income unless you are a federal civilian employee or a federal court employee stationed in Alaska, Hawaii, or outside the United States.
An allowance paid by your employer for living expenses. Generally, you must include cost-of-living allowances in your taxable income unless you are a federal civilian employee or a federal court employee stationed in Alaska, Hawaii, or outside the United States.
06-23-2007, 11:30 AM
#86
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Joined APC: Apr 2006
Position: MD-11 Captain
Posts: 4,304
Originally Posted by MD11Fr8Dog
From http://moneycentral.msn.com/taxes/gl....asp?TermID=82:
Cost-of-Living Allowance
An allowance paid by your employer for living expenses. Generally, you must include cost-of-living allowances in your taxable income unless you are a federal civilian employee or a federal court employee stationed in Alaska, Hawaii, or outside the United States.
An allowance paid by your employer for living expenses. Generally, you must include cost-of-living allowances in your taxable income unless you are a federal civilian employee or a federal court employee stationed in Alaska, Hawaii, or outside the United States.
Mark
06-23-2007, 12:53 PM
#87
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Joined APC: Nov 2006
Position: 767 FO
Posts: 8,047
True but: http://www.irs.gov/pub/irs-pdf/i2555.pdf
There are extra tax benies for living overseas with housing allowances and without. Still say some info from price waterhouse before I vote would be better then after I move.
Housing Exclusion in addition to Income exclusion of $82K
XXXXXXXXXxExpenses (daily)xxxExpenses (full year)
Hong Kongxxxxxxx313.15xxxxxxxxxxx114,300
Parisxxxxxxxxxxxxx217.26xxxxxxxxxxx79,300
There are extra tax benies for living overseas with housing allowances and without. Still say some info from price waterhouse before I vote would be better then after I move.
Housing Exclusion in addition to Income exclusion of $82K
XXXXXXXXXxExpenses (daily)xxxExpenses (full year)
Hong Kongxxxxxxx313.15xxxxxxxxxxx114,300
Parisxxxxxxxxxxxxx217.26xxxxxxxxxxx79,300
Last edited by FDXLAG; 06-23-2007 at 01:01 PM.
06-24-2007, 06:29 AM
#88
Gets Weekends Off
Joined APC: Apr 2006
Position: MD-11 Captain
Posts: 4,304
Hong Kong Apartments Most Expensive to Rent
The Associated Press
Published: May 23, 2007 (Int'l. Herald Tribuine)
SINGAPORE: Hong Kong's high-end apartments are the
world's most expensive to rent, followed by those in
Tokyo and New York, reflecting the high living costs
in those cities, according to a survey on expatriate
accommodations.
An "executive" three-bedroom apartment in Hong Kong
costs more than US$8,500 a month to rent, said the
report, released Tuesday by ECA International, a human
resources consultancy in Britain.
Rents for typical expatriate apartments in Hong Kong
rose by an average of 10 percent last year and 15
percent in 2005, thanks to the Chinese territory's
robust economic growth, said Lee Quane, general
manager of ECA International's office in Hong Kong.
In addition, the gap between Hong Kong and other
cities was widening, he said.
The survey compared rental prices in 92 locations
worldwide, the firm said.
Tokyo rents for expatriates averaged US$7,358 a month.
In New York, rents averaged US$7,249.
Moscow was ranked the fourth-most expensive rental
city, at US$6,526 a month, followed by Seoul, London,
Mumbai and Shanghai, the survey found.
Caracas was ranked ninth because, Quane said,
expatriates there need to live in high-security
compounds for safety reasons. Paris ranked 10th in the
survey.
The cheapest location of the 92 cities examined was
Nairobi, where a three-bedroom apartment cost about
US$1,000 a month, the survey said.
*****
*****
----------------
Expat budgets falling behing luxury price rise
by Sandy Li
May 30, 2007 (South China Morning Post)
Expatriates with a monthly accomodation budget of HK$70,000 to HK$100,000 [US$8,975 to $12,820] - a common package for senior executives - would have less choice in their favorite area in Island South as luxury residential rents continue to rise.
Landscope Surveyors managing director Koh Keng-shing said most flats of more than 3,000 square feet in Island South would be charging more thatn HK$100,000 a month now.
"This group of executives will have to lower their expectations by looking for flats in West and East Mid Levels," he said.
Landscope's website lists a 3,330 square foot unit in Tregunter Towers at Mid-Levels offering to lease at HK$100,000. Owing to limited supply of luxury residential units, Mr. Koh expects rents to increase more that 20 percent this year. He said the period from May to July was the traditional high season for leasing, thus this would push up rents further.
An international survey last week ranked Hong Kong as having the world's highest rents for expatriates, with an average cost of US$8,592 a month to rent an unfurnished three-bedroom flat in areas such as Repulse Bay, the Peak, and Mid-Levels. Mr Koh said accommodations and staff cost only accounted for a tiny portion of a multinational corporation's operating cost.
"With a growing number of international corporations setting up offices in Hong Kong and the tight supply in the top-end residential sector, rents will continue to move up. We have seen one apartment attracting two to three bidders," he said.
Mavis Kang, general manager of Signature Homes, the luxury residential leasing arm of Sun Hung Kai Properties, said rents for its luxury residential portfolio rose 5 to 8 percent in the first quarter of the year, compared with the previous quarter.
Signature Homes provides more thatn 600 homes in 14 prestigious locations in Hong Kong. These include Dynasty Court in Mid-Levels, 127 Repulse Bay Road, and Le Palais in Island South.
"Occupancy rates at our portfolio reached 97 percent, reflecting strong demand for luxury residential homes," Ms. Kand said.
Lily Choi, senior marketing manager at Kerry Real Estate Agency, said most of their tenants were expatriates who worked in the financial sector. "Our tenants come from the United States and Europe," she said.
Its super-deluxe portfolio includes Aigburth, Brandsome Crest, Tavistock and Branksome Grande. She said rents ranged from HK$40 [US$5.13] to almost HK$60 [US$7.69] per square foot, while units of 6,000 square feet exceed HK$60 per square foot.
Published: May 23, 2007 (Int'l. Herald Tribuine)
SINGAPORE: Hong Kong's high-end apartments are the
world's most expensive to rent, followed by those in
Tokyo and New York, reflecting the high living costs
in those cities, according to a survey on expatriate
accommodations.
An "executive" three-bedroom apartment in Hong Kong
costs more than US$8,500 a month to rent, said the
report, released Tuesday by ECA International, a human
resources consultancy in Britain.
Rents for typical expatriate apartments in Hong Kong
rose by an average of 10 percent last year and 15
percent in 2005, thanks to the Chinese territory's
robust economic growth, said Lee Quane, general
manager of ECA International's office in Hong Kong.
In addition, the gap between Hong Kong and other
cities was widening, he said.
The survey compared rental prices in 92 locations
worldwide, the firm said.
Tokyo rents for expatriates averaged US$7,358 a month.
In New York, rents averaged US$7,249.
Moscow was ranked the fourth-most expensive rental
city, at US$6,526 a month, followed by Seoul, London,
Mumbai and Shanghai, the survey found.
Caracas was ranked ninth because, Quane said,
expatriates there need to live in high-security
compounds for safety reasons. Paris ranked 10th in the
survey.
The cheapest location of the 92 cities examined was
Nairobi, where a three-bedroom apartment cost about
US$1,000 a month, the survey said.
*****
*****
----------------
Expat budgets falling behing luxury price rise
by Sandy Li
May 30, 2007 (South China Morning Post)
Expatriates with a monthly accomodation budget of HK$70,000 to HK$100,000 [US$8,975 to $12,820] - a common package for senior executives - would have less choice in their favorite area in Island South as luxury residential rents continue to rise.
Landscope Surveyors managing director Koh Keng-shing said most flats of more than 3,000 square feet in Island South would be charging more thatn HK$100,000 a month now.
"This group of executives will have to lower their expectations by looking for flats in West and East Mid Levels," he said.
Landscope's website lists a 3,330 square foot unit in Tregunter Towers at Mid-Levels offering to lease at HK$100,000. Owing to limited supply of luxury residential units, Mr. Koh expects rents to increase more that 20 percent this year. He said the period from May to July was the traditional high season for leasing, thus this would push up rents further.
An international survey last week ranked Hong Kong as having the world's highest rents for expatriates, with an average cost of US$8,592 a month to rent an unfurnished three-bedroom flat in areas such as Repulse Bay, the Peak, and Mid-Levels. Mr Koh said accommodations and staff cost only accounted for a tiny portion of a multinational corporation's operating cost.
"With a growing number of international corporations setting up offices in Hong Kong and the tight supply in the top-end residential sector, rents will continue to move up. We have seen one apartment attracting two to three bidders," he said.
Mavis Kang, general manager of Signature Homes, the luxury residential leasing arm of Sun Hung Kai Properties, said rents for its luxury residential portfolio rose 5 to 8 percent in the first quarter of the year, compared with the previous quarter.
Signature Homes provides more thatn 600 homes in 14 prestigious locations in Hong Kong. These include Dynasty Court in Mid-Levels, 127 Repulse Bay Road, and Le Palais in Island South.
"Occupancy rates at our portfolio reached 97 percent, reflecting strong demand for luxury residential homes," Ms. Kand said.
Lily Choi, senior marketing manager at Kerry Real Estate Agency, said most of their tenants were expatriates who worked in the financial sector. "Our tenants come from the United States and Europe," she said.
Its super-deluxe portfolio includes Aigburth, Brandsome Crest, Tavistock and Branksome Grande. She said rents ranged from HK$40 [US$5.13] to almost HK$60 [US$7.69] per square foot, while units of 6,000 square feet exceed HK$60 per square foot.
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