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mrroboto
Joined: 29 Mar 2003
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 Posted: Tue Apr 22, 2003 6:55 pm Post subject: Overtime - Do you pay tax on it? |
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Hi,
A co-worker recently told me that she doesn't calculate tax on her overtime when calculating (re: Negotiating  ) her pay each month with our boss.
I've been paying tax on my overtime hours since day one... Today's pay day is going to have about 15 hours of OT so I'd love to avoid this tax if it's possible...
any ideas? |
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mrroboto
Joined: 29 Mar 2003
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| Posted: Wed Apr 23, 2003 6:55 am Post subject: |
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In answer to myself, when I brought up the subject, the bossman rolled over and simply said 'oops, no tax'. Don't know if it's a legal thing or not, but he's avoiding confrontation I guess  |
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Crazy Oz
Joined: 10 Jan 2003
Location: Ilsan, Korea
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| Posted: Wed Apr 23, 2003 7:25 am Post subject: |
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Tax is payable on all income. The o/t should be added to the basic rate and the tax rate calculated on the gross amount. Won't make a hell of a difference to your deductions, so don't sweat it.
You can get an idea of the tax payable on the gross amount by visiting the Korea Tax website that has been posted several times on this board.
Still crazy, still here. |
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