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Contract Bonus

 
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Duncan McCocinue



Joined: 17 May 2003

PostPosted: Mon May 19, 2003 6:58 am    Post subject: Contract Bonus Reply with quote

I've heard that our bonus is not subject to tax. Is this true? If it is do you know where one might be able to get some info to support this? I've bitten my lip regarding the 8% (I know it should be 3-4%) tax my boss already takes off my paychecks especially since he doesn't pay anything to the government as everytime the auditors come to the school he ushers me out the back door, hides the schedules with my name on it, and takes my picture off the wall. Like I said I've let him rape me to date and haven't said anything but would just like to know if I'm right in this case. Let me know.

*edited by Lemon 12:23am*
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maxxx_power



Joined: 17 Mar 2003
Location: BWAHAHAHAHA! I'M FREE!!!!!!!

PostPosted: Mon May 19, 2003 1:28 pm    Post subject: Reply with quote

Any particular reason you're allowing yourself to get screwed like that? What makes you think your boss will even pay the bonus if he "rapes" his employees so blatantly?
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KinKorea



Joined: 10 May 2003

PostPosted: Mon May 19, 2003 10:15 pm    Post subject: Reply with quote

Last year I was taxed on my bonus. I argued about this but it got me nowhere. I don't know if it's the law or what but in my experience it depends on your boss. I've got friends who have been paid 100% of their bonus. So it does happen! Good luck dude!
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waterbaby



Joined: 01 Feb 2003
Location: Baking Gord a Cheescake pie

PostPosted: Tue May 20, 2003 2:35 am    Post subject: Reply with quote

Last year my director was taxing me and my co-workers at a blanket 7% when our contracts said "according to Korean tax law" which is in the vicinity of 3%. We put together a whole presentation for him, went down to the Korean tax office to check to see whether or not we were registered (some of us had worked the previous financial year and so should have been known to the tax office) but of course none of us were. Our Director got very stroppy (love that word!) with us for "going behind his back".

We yelled at each other for about 2 hours. His arguements were that it was up to him to set the tax rate and that our tax was paying for his business overheads. We demanded that he pay us at the correct rate and refund all the extra money he took from us (I'd been there for 10 months at this time so it was almost a million won for me) and when he refused to concede, we all walked out. He called us back in for another meeting and more arguing. He finally conceded to grant us what we wanted.

What was most surprising to me was that the reason he didn't want to change our tax rate was that he didn't want to lose face with other hogwan directors in our area if they found out we'd bullied him into lowering our tax rate. If I'd known that was the issue all along, I would have tackled the situation a different way. He asked for us to swear silence. And I did. (But the whole town knew of our situation already...) Anyway, it's given me a new perspective on looking for "motives" behind stupid policy and stupid decisions our beloved Directors make.

Anyway, I reckon you should stop biting your lip. Get some facts to support your claim regarding your tax. What does your contract say? Is it one of those airy-fairy between 3 and 8% statements? If so, you're probably screwed. If it was like min, "According to Korean Tax Law" then you have 2 legs to stand on.

I think we're required by law to pay tax on our bonus. Some people do, some people don't. Luck of the draw I guess. Can't remember if I did. Probably, even though it didn't go to the tax office. Probably helped pay off the electricity bill Rolling Eyes
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Been Here Years



Joined: 01 Feb 2003
Location: Seoul

PostPosted: Wed May 21, 2003 5:02 am    Post subject: Reply with quote

I keep reading about the 3% tax rate here and it's not correct. If you ring the Tax office you will find an English speaker who will give you the rates. They are like our western ones - the more you earn the higher they go. My rates are about 10%. I checked it out for 6 continuous months when I got here because I felt I was being shafted but I was paying the exact amount I should have been.

The other thing is that they are worked out on your annual rates - if you have a variety of pay levels instead of balancing it out over 12 months as we do - you pay the annual rate appropriate for each pay packet. Very strange!!! Confused

The severance pay is subject to a 1% rate -or it was 1 year ago and I guess it hasn't changed since our office hasn't said any more - and they are really on the ball where the tax office is concerned.
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