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gobbledygook
Joined: 18 Feb 2012
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 Posted: Sat Mar 10, 2012 10:09 pm Post subject: Paying tax? |
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hey guys,
For someone who works 3-4hours a day as a freelancer and gets 10,000w per hour, how much tax does he have to pay?
Does the company usually deduct tax from the pay or do we need to make a separate tax payment?
And generally, would it be OK to work without a Korean bank account? (paid by cash) |
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Chris.Quigley
Joined: 20 Apr 2009
Location: Belfast. N Ireland
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| Posted: Mon Mar 12, 2012 11:49 pm Post subject: |
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1.) Why would anyone accept 10000W/hour.
2.) Sounds illegal since you are being paid in cash.
3.) Sounds illegal since freelance work is illegal. (on E2)
Tax - in almost every country - is based on your net income for tax purposes. This is the total of all earnings through the year (employment, business, property, capital gains etc.)
Based on the fact that you are barely making anything and working only part time - I would assume that you would not make enough money in a year to pay any tax at all. |
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modernseoul
Joined: 11 Sep 2011
Location: Seoul
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| Posted: Tue Mar 13, 2012 12:58 am Post subject: Re: Paying tax? |
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| gobbledygook wrote: |
hey guys,
For someone who works 3-4hours a day as a freelancer and gets 10,000w per hour, how much tax does he have to pay?
Does the company usually deduct tax from the pay or do we need to make a separate tax payment?
And generally, would it be OK to work without a Korean bank account? (paid by cash) |
If a Korean company/school wants to pay you in cash it seems like they're trying to aviod paying tax anyway. All the Koreans I've worked want to pay by bank transfer and
not in cash.
Also ￦10,000 per hour?? That's very low for part time work. |
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gobbledygook
Joined: 18 Feb 2012
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| Posted: Tue Mar 13, 2012 2:22 am Post subject: |
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| oh yeah?..OK I will not take it up then. And just realised that not possible whilst on short-term student visa. |
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Hamburgs_MecGee
Joined: 28 Jan 2012
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| Posted: Sun Mar 18, 2012 8:54 pm Post subject: |
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Laughable wage. Straight up slave labour. Let me guess you are also travelling an hour to this gig?
Hamburgs MecGee. |
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gobbledygook
Joined: 18 Feb 2012
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| Posted: Mon Mar 19, 2012 8:35 pm Post subject: |
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lol no not traveling! But what's the min hourly wage in Korea by law?
Google says
Hourly Wage Rate - 4,320 won per hour.
Daily Wage Rate - 34,560 won per day (on an eight hour basis).
well, then 10,000won per hour sounds pretty good.. plus it has nothing to do with teaching. |
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ontheway
Joined: 24 Aug 2005
Location: Somewhere under the rainbow...
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| Posted: Tue Mar 20, 2012 8:29 am Post subject: Re: Paying tax? |
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| gobbledygook wrote: |
hey guys,
For someone who works 3-4hours a day as a freelancer and gets 10,000w per hour, how much tax does he have to pay?
Does the company usually deduct tax from the pay or do we need to make a separate tax payment?
And generally, would it be OK to work without a Korean bank account? (paid by cash) |
1) The hours and pay level you indicate for part time work would most likely result in a legal withholding rate of zero. Korean income taxes are progressive and your pay is at the zero tax level.
2) If you work full time or at a higher part time rate so that you actually have a tax liablilty, then your employer should withhold taxes.
3) It is OK to be paid in cash.
4) Check your visa status to see if this is legal as a student.
5) This pay level isn't bad for a student. The minimum wage in Korea is quite low as you have already noted. |
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