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Smart Tax Planning

Smart Tax Planning


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Have you ever felt like you are getting by by the skin of your teeth, and as if that’s not overwhelming enough, you find in your letterbox that big green envelope from the Inland Revenue Department (IRD)? Well, the tax season does not have to be that ominous.

Edwin Cheung, Head of Business Development at Cigna, shares with us two tips to comfortably make the tax season a breeze.



Salaries Tax Computation
This tax calculator available on the IRD website estimates your liability under salaries tax and allows you to work out your spending in the coming months. For instance, your estimated tax liability is HKD 9,000 and you have 12 months before tax payment. If you could put away HKD 90 every month in these 12 months, you won’t be too stressed out when the tax is due.


Electronic Tax Reserve Certificates
This "Save for Tax" scheme helps taxpayers build up funds for tax payment. These certificates can be purchased through monthly bank autopay, over the phone or Internet, via ATMs and the Auto Tax Payment Service. And here’s the icing on the cake — these certificates will earn interest when redeemed to pay the holder's tax!


Financial wellness is just as important as physical health. Plan ahead and take good care of your finances just as you would for your body.

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© Cigna 2018

Information provided in this article is intended for health and fitness purposes only and is not intended for use in the diagnosis of disease or other conditions, or in the cure, mitigation, treatment or prevention of disease (see Terms & Conditions for details). Any health-related information found in this article is available only for your interest and should not be treated as medical advice. Users should seek any medical advice from a physician, especially before self-diagnosing any ailment or embarking on any new lifestyle or exercise regime. Any information contained in this article may not be suitable, accurate, complete or reliable. Cigna accepts no responsibility for the content or accuracy of information contained on external websites or resources, or for the security and safety of using them. "Cigna" and the "Tree of Life" logo are registered trademarks of Cigna Intellectual Property, Inc. in the United States and elsewhere, licensed for use. All products and services are provided by or through operating subsidiaries, and not by Cigna Corporation.

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