扣稅年金, 扣稅自願強積金, 到底需唔需要? 邊個先岩自己? Qualifying Deferred Annuity Policy vs Tax Deductible MPF Voluntary Contributions, do I need it? which one is preferable?

 (English version below)

每年既年尾到3月31日, 不論係社交媒體, 討論區等, 只要您上網睇野都會好大機會見到網上廣告關於扣稅, 比較多既係扣稅年金 ("QDAP").

用6萬 去慳到最高稅額 $10,200 既 扣稅年金 / 可扣稅自願性MPF供款, 只係當您既計算稅額去到至少 $260,000 (現時 $50,000 @ 2%, 6%, 10%, 14%, 17% 累進税率計算.  因應政府推出的稅務計劃而變更).

👂 有冇需要買?

如果您認為而家呢刻存起 $49,800 俾您將來用就可以賺多, 唔係交出 $10,200 的話, 仲駛諗既?

但係, 如果您係公司持有人 (不論係無限公司定係有限公司), 都可以利用呢個方法慳到稅 (如果作為持有人既您仲未買的話).
-> 如果您係有限公司持有人的話, 兩級制税率去到15%計算的話, 就會慳最高$9900 稅. 就算去唔到15%, 最高都慳 $4950 稅. 

-> 如果您係無限公司持有人的話, 就算您唔用兩級制税率計算都有機會去到自己既 17%制税率. 

(公司條數唔係自己計? 我估您既會計都唔會話您到俾您知.)

好多公司持有人都會想盡方法去 "增加" 公司既支出從而減少稅項. 但有冇諗過如果 touchwood 有日需要對另一方提出索賠不只是醫療費用仲有您既收入時, 您估您張稅單會唔會係其中一個考慮因素?

到底買邊個先好?  扣稅年金 "QDAP" vs 扣稅自願強積金 (TVC)

	扣稅年金	扣稅自願強積金供款
最少供款	$36,000/年 (最少總共要供 $180,000) 每年供款 / 一次繳清	視計劃詳情 $300/月, or $3000/年 供款額可以更改
最少供款年期	5年	無
提取	最快55歲 , 直到85 - 100歲	65歲
提取款額	每個月 一筆特定金額	戶口內所有 或 自己想提取的金額
類別	儲蓄保險	MPF
回報	保證及非保證金額	視您自己的投資決定, 需定期查看投資風險並判斷是否需要更換投資類別. MPF 當中一定會有保守基金, 及保證基金
額外保障	可於一段期間內享有人壽, 意外, 危疾 保障	無

睇下自己想要既扣稅計劃, 到底邊一樣較為重要, 

• 您係想黎緊 5 - 10年內都一直會扣稅 (預計有足夠現金流), 定係因應每年既計劃去作出調整供款, 定還是只需要今年內扣稅? 

• 您會唔會想係到左提取既年齡時一筆過拎?

• 您需唔需要額外既保障 ?
• 您會唔會驚第時太多錢係身, 會大洗唔想咁快拎晒啲錢?

Note:

- 若您決定購買兩者, TVC 供款會先用於扣除再到QDAP 供款.

- 您既公司MPF 入面既自願性強積金供款 係有別於 扣稅自願強積金供款. 公司入面個個自願性強積金供款係唔可以用黎做扣稅.

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Every year ends to the next year 31st Mar, whether it's social media, forum, as long as you access to the Internet, you will surely get an advertisement about tax deduction, mostly focusing on Qualifying Deferred Annuity Policy. (aka "QDAP").

With all the focus on saving up to $10,200 tax for spending maximum $60,000 (actual spending $49,800) on QDAP/ Tax Deductible voluntary MPF, it is attractive enough for a "long period of time deposit saving". That's only if your net chargeable income is at least $260,000 (for the current $50,000 @ 2%, 6%, 10%, 14%, 17% progressive tax rate. Of course the amount will change subject to government tax plan).

👂 Do you need it?

That's if you believe this $10,200 is good enough for you to spend extra $49,800 for your saving in the future

As a business owner (unlimited company or limited company), this plan is SURELY one of your consideration to reduce your tax (if you have not bought it). Think about it,

-> if you hold a limited company, your two tier tax rate normally exceed to 16.5% for calculation. That's a maximum of $9,900 tax payment that you can save (or I could say, earn it). Even if it does not go beyond 16.5%, you can still save a maximum of $4950 tax payment.

-> if you are unlimited company owners, you normally won't go for the two tiers, but still possible reaching the 17% tax tier. 

(You are not aware of your company statement? I doubt your accountant will tell you about it. )

Yet, many owners keep finding ways to "increase" your statement expenses in order to reduce tax payment. But none has ever thought of, Touch wood, as a victim that needs to file claim against the other party for medical expenses and income revenue, will your tax income report becomes one of the salient consideration ?

Which one to choose?  "QDAP" vs Tax Deductible Voluntary MPF Contribution (TVC)

	QDAP	Tax Deductible Voluntary MPF  Contribution
Minimum Amount  Contribution	$36,000/year (Total amount minimum must be $180,000) Paid by year or in one go	depending on the plan,  $300/month, or $3000/year Contribution amount can be adjusted
Minimum  Contribution period	At least 5 years	No restriction
Withdraw period	At the age of 55, withdraw until 85 - 100	At the age of 65
Withdraw amount	a certain amount based on the plan EACH month	your desired amount in your account upon submission, or ALL the amount in the account
Category	saving insurance plan	MPF plan
Investment return	guarantee return + non guarantee return it's a saving insurance	based on your investment decision. Require you to check out and make any changes on investment if needed There is always a Conservative Fund and guaranteed fund in it.
Extra protection	offer a sum of life insurance, accidental insurance, critical illness protection in a certain period	None

Depending on your priority of what you want in your tax deduction, these should help you decide your tax deduction plan

• Do you want keep reducing your tax in the next 5 - 10 years (with sufficient cash flow), or do you want to adjust your contribution based on your calculation in the statement each year (or simply just want to reduce your tax this year)?

• Do you want to withdraw all the amount at one go at the age of withdrawal ?

• Do you want extra protection ?

Note:

- If you decide to purchase both QDAP and TVC, contribution to TVC amount will be deducted first before the QDAP premium in the tax deduction.

- Voluntary MPF contribution (in your company plan) is different from Tax Deductible Voluntary MPF contribution. Voluntary MPF contribution cannot be used for tax deduction.