THE first income tax instalment is due in the next couple of months. Those who have joined the "Pay As You Earn" scheme should be able to easily cope with these payments.

For a tax payer, the optimal amount of monthly saving in the "Pay As You Earn" scheme corresponding to net taxable income (i.e. total income minus deductible and exempted expenses as suggested by the Inland Revenue Department) are as follows:

The above estimations are based on an interest rate of 7.68 per cent per annum (Note: the current interest rate is 8.04 per cent per annum). As income increases annually due to promotion, annual increment or pay rise, it is necessary to save more for tax payment. Being a regular and low risk saving plan with a favourable interest rate, the "Pay As You Earn" scheme is not without its attractions.

For those have not yet joined the scheme, it is never too late. You can join at any time and start saving now to help pay your second income tax instalment for this year ¡Ð or for next year.

BIGGER, BETTER, BRIGHTER ¡Ð that's the plan for this year's Police Night.

THIS year's spectacular event will be based on last year's improved and varied format with combines performances from Police Bands with the Hong Kong Police Dance Team, PTU and SDU, and a tournament between 12 major formation teams to manoeuvre a stalled HGP.

The night kicks off with a wide range of exciting displays and the sale of souvenirs from 5pm, with tasty snacks and drinks on 25, 27 & 28 November available at "Shun Tai Yuen" on sale until 6:45pm.

November 28 is reserved for Force members and their families, while November 25 and 27 are open to the public. Senior officers are encouraged to attend the CP cum SO Night on November 26.

Tickets this year cost $60, $80 and $100. Force members wishing to attend the Force Night will have to fill out the order form and fax it to PTS on 2814-1783 as soon as possible. Senior officers can approach CIP SUP PTS on 2814-4213 direct to book tickets ($200) for the CP cum SO Night. PCROs are responsible for the sale of tickets for the two Public Nights.

Enquiries can be made directly to the Staff Relations Group on 2866-7427, or 2866-7375.

WITH the current insurance policy expiring on 28 December 98, the opportunity is taken to re-open the Scheme for those who have not yet joined. Officers of inspectorate rank or above and all civilians who are still not members are invited to enrol between 26 October 98 and 25 November 98. After this date, only officers during their first three months of joining the Force either on recruitment or transfer will be eligible to apply for membership. Existing members are not required to join again.

Participation in this scheme is voluntary. Application forms are available at the Personnel Services Branch Headquarters, all Regional Welfare Officers and DSROs/SROs offices.

Membership will only be valid upon direct deduction of the monthly contribution from payroll through the Treasury. The monthly contribution is $42.10 for officers of inspectorate rank or above and comparable civilian grade officers (i.e. those at MPS Point 22 or above) and $30.20 for civilians below MPS 22.

Enquiries: K H Chan, Personnel Services Branch on 2804-1128.