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Firearcher
Joined: 22 Dec 2007
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 Posted: Thu Jan 27, 2011 5:03 pm Post subject: Tax Rate |
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Can anyone tell me what the rate of tax is for Canadian ESL Teachers in Korea. My school says 6%.
That seems high. I cannot find any website that specifically lists the rates per foreign country. |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Thu Jan 27, 2011 5:27 pm Post subject: Re: Tax Rate |
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| Firearcher wrote: |
Can anyone tell me what the rate of tax is for Canadian ESL Teachers in Korea. My school says 6%.
That seems high. I cannot find any website that specifically lists the rates per foreign country. |
sliding scale based on your income.
Typically, for the average ESL teacher, taxes are in the range of 1.7 - 2.2%. (unless you are pulling a salary in excess of 3 million won per month. )
IF your hagwan was a little less than honest and registered you as a "sub-contractor" then your rate is 3.3%.
There IS a tax calculator on the NTS website for you to check your withholding tax.
http://www.nts.go.kr/eng/help/help_53.asp?top_code=H001&sub_code=HS05&ssub_code=HSE3
2.5 million won monthly salary (no wife or kids in Korea to support) = 55k won per month for tax.
EVERYONE pays on the same scale. (it does NOT change by country of origin unless you qualify for the 2 year tax holiday (and as a Canadian you do not / can not).
Your boss is a crook.
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nathanrutledge
Joined: 01 May 2008
Location: Marakesh
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| Posted: Thu Jan 27, 2011 6:29 pm Post subject: Re: Tax Rate |
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| ttompatz wrote: |
| Firearcher wrote: |
Can anyone tell me what the rate of tax is for Canadian ESL Teachers in Korea. My school says 6%.
That seems high. I cannot find any website that specifically lists the rates per foreign country. |
sliding scale based on your income.
Typically, for the average ESL teacher, taxes are in the range of 1.7 - 2.2%. (unless you are pulling a salary in excess of 3 million won per month. )
IF your hagwan was a little less than honest and registered you as a "sub-contractor" then your rate is 3.3%.
There IS a tax calculator on the NTS website for you to check your withholding tax.
http://www.nts.go.kr/eng/help/help_53.asp?top_code=H001&sub_code=HS05&ssub_code=HSE3
2.5 million won monthly salary (no wife or kids in Korea to support) = 55k won per month for tax.
EVERYONE pays on the same scale. (it does NOT change by country of origin unless you qualify for the 2 year tax holiday (and as a Canadian you do not / can not).
Your boss is a crook.
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Make sure that when he says it's 6%, he means the tax. IF he's talking about withholding, that sounds about right - i.e., taxes, pension, medical. ALL that should be about 6%. IF he's only talking about taxes, then yeah, crook. |
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