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AwesomeA
Joined: 21 Dec 2006
Location: Yeosu
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 Posted: Fri Apr 13, 2007 3:45 am Post subject: Taxes Questions |
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Is housing allowance taxable?
Is medical taxable?
Is severence taxable?
I have been taxed 3.3% on everything. |
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alabamaman
Joined: 25 Apr 2006
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| Posted: Fri Apr 13, 2007 4:07 am Post subject: Re: Taxes Questions |
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| AwesomeA wrote: |
Is housing allowance taxable?
Is medical taxable?
Is severence taxable?
I have been taxed 3.3% on everything. |
Income taxes, according to the current tax rates, are deducted from severance pay when your employer pays you severance upon completion of your abor contract. Severance pay isn't taxed on a monthly basis throughout the contract term. |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Fri Apr 13, 2007 4:48 am Post subject: Re: Taxes Questions |
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| AwesomeA wrote: |
Is housing allowance taxable?
Is medical taxable?
Is severence taxable?
I have been taxed 3.3% on everything. |
If you have HOUSING it is NOT taxed. If you have the cash (housing allowance instead of housing, it is taxed.
Taxes are paid on your gross salary BEFORE medical and pension are deducted.
Your employer CANNOT tax you on his contribution to your medical or pension.
Your taxes are based on your income and it is a sliding percentage.
I would guess that at 3.3% your boss is charging you as a subcontractor and not a salaried employee (illegal).
http://www.nts.go.kr/eng/default.html
Check the link on the left that says, "check your monthly withholding tax"
Enter the amount in MAN won (eg 2 million is actually 2000 man won, 2.5 million is 2500 man won).
I would hazard a guess that you are getting screwed by CDI?? |
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