Korean Job Discussion Forums

[Qinella]

The other thread about housing allowance made me wonder something.

I get paid an additional 400k won each month to cover rent. However, I did not choose my apartment, I don't physically make the payment, and I never even see the 400k. It's all just paperwork, and I have no idea why it's set up like that. But, it was taxed.

Questions for you, the reader:

- Do you get paid extra to cover rent?
- If so, does that get taxed?


I got the other buggery squared away, and now it's down to this minor issue. Gonna have to figure out what's going on.

Q.

[Qinella]

bump and grind

Someone give me definitive, indisputable information on the double!

[Hollywoodaction]

As far as I know, I'm not getting taxed for it.

[Squid]

Mine's taxed. Standard as far as I've seen.

[ttompatz]

[Qinella]

[PRagic]

Make sure that amount gets figured into your severace!

[plattwaz]

I'm sure there is some tax reason why your employer is doing that Qinella -- a write off of some kind...he pays you the salary, then he taxes you on it, and deducts it from your pay to pay for the apt, right?

One of my previous employers did that with my utilities fee - there was a 40,000 won "building maintenance fee" that they were supposed to pay. But, what they did is give me 40,000 won extra in my pay, on the income side, and then on the deductions side, they took it back. It didnt' bother me, cause it was a trivial amount, and most employers would have made me pay it myself. But 400,000 won is quite a bit extra. DO make sure that it goes in your severance pay!!!!! And remember, severance is the AVERAGE monthly pay over the year, he can't just say that whatever your contracted monthly base pay is, is your severance payment!!

To answer your first question, usually housing allowances are given in place of an actual apartment -- ie/ the school will give you a free place to live, or xxx,xxx won as a housing allowance, but you get your own place to live. Some places will also arrange to pay the key money deposit on your behalf, to a maximum. (My previous school was 300,000 per month plus key money of up to 10million. The instructor had to pay interest on the key money deposit which was usually minimal (10-12,000 won). The school then paid the money directly to the landlord, not to the instructor.)

The norm seems to be 300,000 won, although lately on job ads I have seen lots that are up to 400,000 won.

[PRagic]

Severance is supposed to be calculated on your last 3 months of employment. There is a condition (get back to me) that enables employers to calculate based on monthly average over a year, though.

Get some fat last months in, but only after you make certain of how the employer is ALLOWED to calculate your severace. Check with labor.