| View previous topic :: View next topic |
| Author |
Message |
bboymagicmonkey
Joined: 04 Jun 2008
|
 Posted: Wed Aug 13, 2008 7:01 pm Post subject: Is Housing Allowance Tax Free? |
 |
|
Is Housing Allowance Tax Free?
I was looking at my pay slip and I realized that the tax they took out included my housing allowance as my gross income.
I vaguely remember reading somewhere that Housing Allowance was exempt from tax?
Can anyone verify? |
|
| Back to top |
|
 |
broken76
Joined: 27 Jan 2008
|
| Posted: Wed Aug 13, 2008 8:14 pm Post subject: |
|
|
| From what I can recall housing allowance is taxable income. If you break it down it's just a higher salary in lieu of receiving housing. |
|
| Back to top |
|
|
kprrok
Joined: 06 Apr 2004
Location: KC
|
| Posted: Wed Aug 13, 2008 8:16 pm Post subject: |
|
|
| Technically they should also be taxing teachers on the value of the provided apartment, but they don't. |
|
| Back to top |
|
|
PRagic
Joined: 24 Feb 2006
|
| Posted: Wed Aug 13, 2008 8:21 pm Post subject: |
|
|
| Just make sure that your severance paid at the end of your contract is calculated on your TOTAL income, including housing allowance and overtime! |
|
| Back to top |
|
|
sojourner1
Joined: 17 Apr 2007
Location: Where meggi swim and 2 wheeled tractors go sput put chug alugg pug pug
|
| Posted: Wed Aug 13, 2008 8:38 pm Post subject: |
|
|
| kprrok wrote: |
| Technically they should also be taxing teachers on the value of the provided apartment, but they don't. |
Incorrect. You only pay property tax if you own and we don't own. Renters do not pay property taxes. |
|
| Back to top |
|
|
kprrok
Joined: 06 Apr 2004
Location: KC
|
| Posted: Wed Aug 13, 2008 10:16 pm Post subject: |
|
|
| sojourner1 wrote: |
| kprrok wrote: |
| Technically they should also be taxing teachers on the value of the provided apartment, but they don't. |
Incorrect. You only pay property tax if you own and we don't own. Renters do not pay property taxes. |
I'm not talking about property tax. I'm talking about income tax on your taxable income which includes the value of the provided apartment. |
|
| Back to top |
|
|
yingwenlaoshi
Joined: 12 Feb 2007
Location: ... location, location!
|
| Posted: Wed Aug 13, 2008 10:29 pm Post subject: |
|
|
Taxes. That's funny. Some remit them. Housing allowances are taxable. Provided housing? That's up in the air.
I believe that a percentage of your housing allowance, however, is tax free. Up to a certain amount. I guess that would be figured out at tax time. If you really care, make sure your employer is paying taxes by contacting the tax office sometime during your employment, but not near the end of your contract. |
|
| Back to top |
|
|
crescent
Joined: 15 Jan 2003
Location: yes.
|
| Posted: Thu Aug 14, 2008 6:57 pm Post subject: |
|
|
| sojourner1 wrote: |
| kprrok wrote: |
| Technically they should also be taxing teachers on the value of the provided apartment, but they don't. |
Incorrect. You only pay property tax if you own and we don't own. Renters do not pay property taxes. |
I don't think you understand what a taxable benefit is.
It is something that has monetary value, used as remuneration.
Such things are taxable here and back in our home countries.
kprrok is correct. |
|
| Back to top |
|
|
DongtanTony
Joined: 22 Feb 2008
Location: Bundang
|
| Posted: Thu Aug 14, 2008 10:08 pm Post subject: |
|
|
|
|
| Back to top |
|
|
bboymagicmonkey
Joined: 04 Jun 2008
|
| Posted: Thu Aug 14, 2008 10:25 pm Post subject: |
|
|
MODS!!
STICKY this thread~~~!!!
ALL HOUSING ALLOWANCES SHOULD BE TAX FREE!!!! |
|
| Back to top |
|
|
DongtanTony
Joined: 22 Feb 2008
Location: Bundang
|
| Posted: Thu Aug 14, 2008 10:32 pm Post subject: |
|
|
| Credit username "pecan" for finding that info. Pecan helped a bunch when I was going through this not too long ago. |
|
| Back to top |
|
|
crescent
Joined: 15 Jan 2003
Location: yes.
|
| Posted: Thu Aug 14, 2008 11:28 pm Post subject: |
|
|
| DongtanTony wrote: |
So...for housing allowance...it's similar. These expenses would be incurred by the employer...not the employee.
Sorry folks...if you're housing allowance is getting taxed...you're getting screwed. |
You got lucky. I have a formal letter from the tax office saying IT IS a taxable benefit.
This, after hearing similar replies on the telephone from one agent to the next. |
|
| Back to top |
|
|
Matilda
Joined: 17 Jun 2006
Location: Gimhae gal
|
| Posted: Fri Aug 15, 2008 4:01 pm Post subject: |
|
|
| Gimhae City Hall confirmed to me the allowance is tax-free! |
|
| Back to top |
|
|
Hyeon Een
Joined: 24 Jun 2005
|
| Posted: Fri Aug 15, 2008 7:30 pm Post subject: |
|
|
What a confusing issue. Just to add to the confusion:
I called the tax office and they told me that I have to pay tax on my housing allowance. The guy I spoke to spoke excellent English and seemed to know exactly what he was talking about; there was no hesitation or waiting whilst he checked the rules. He was very confident of his answer.
It seems other people have received the opposite answer from the tax office, Gimhae city hall etc.
What a confusing mess.
Anyway, I am currently paying tax on my housing allowance. |
|
| Back to top |
|
|
crescent
Joined: 15 Jan 2003
Location: yes.
|
| Posted: Fri Aug 15, 2008 8:42 pm Post subject: |
|
|
| Um, wouldn't asking someone at Gimhae city hall about tax policies be akin to asking a muslim about the bible? |
|
| Back to top |
|
|
|
FAQ
Search
Memberlist
Usergroups
Register
Profile
Log in to check your private messages
Log in
