Korean Job Discussion Forums

[Egypt]

Is anybody making money in Korea after they pay their Canadian taxes?

I've been told that Canadian taxes are 33% and that whatever you have paid in Korean taxes is subtracted from that. Then you pay whatever is left over.

I've also heard that you pay 4% into national pension plan and that your employer will also put 4% in and then you get the money when you leave. Are you taxed on that as well?

So if you make 2 million won - it's about $2400 canadian dollars. Take away 33 % - that's about $800 dollars - So you are living on about $1600. I guess if your rent is paid for and you don't eat too much western food you could make money. Right?

[RachaelRoo]

No way should you have to pay 33% Canadian taxes on your earnings!
First of all, even if you did have to pay full Canadian taxes, it wouldn't be near 33% - you'd be in a lower tax bracket than that, and the first $8000 you make is tax free anyways.
More importantly, you should be able to claim non-residency status, especially if you are here for a year or more, and thus pay no Canadian tax on your money whatsoever. Basically, just try to have as few ties to Canada as possible i.e. don't own proerty there. Here on some previous threads on this topic:

http://www.eslcafe.com/forums/korea/viewtopic.php?t=40859

http://www.eslcafe.com/forums/korea/viewtopic.php?t=1698

http://www.eslcafe.com/forums/korea/viewtopic.php?t=33072

http://www.eslcafe.com/forums/korea/viewtopic.php?t=29265

Personally, if I have any probs with Rev Can when I come back with my money, I'm calling a lawyer. Those people can do amazing things.....
[/quote]

[endo]

thanks for the info double R