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Temporary 1 house, 1 sale right is also tax-free Revised Tax Act Enforcement Decree Disclosure

In addition, if the income earned from selling stocks is less than 50 million won per year, you do not have to pay the transfer tax.

The government unveiled the detailed enforcement decree of the revised tax law passed by the National Assembly at the end of last year.

The main contents were summarized by reporter Kim Jong-min.

【 reporter 】
When looking at the amendment to the tax law-related enforcement ordinance disclosed by the government, first of all, a tax-free special case applies to one-homeowner who temporarily holds the right to sell.

In fact, even though they are two houses, if they bought a lot for the purpose of moving, such as selling a house that they lived in less than three years ago, like’one house owner with the right to move in as a member of the union’, they will be considered as one house.

Also, from 2023, taxes are also imposed on money earned by selling stocks, and if the profit does not exceed 50 million won per year, you do not have to pay taxes.

Investing in public offering funds also benefits from taxation.

【Interview】 Director Lim Jae-hyun / Tax Office, Ministry of Strategy and Finance
“For domestic publicly offered stock funds, as with listed stocks, 50 million won is applied, and the requirements of this listed stock fund are set at least two-thirds of the total assets as funds managed by domestic listed stocks.”

An investment brokerage type has been added to the scope of asset management of an individual comprehensive asset management account (ISA), allowing domestic listed stock investment.

If the virtual currency transaction income exceeds KRW 2.5 million, a 20% tax is imposed.

Excessive tax exemption, which was applied only to production workers in certain industries, is also expanded.

【Interview】 Director Lim Jae-hyun / Tax Office, Ministry of Strategy and Finance
“There is only a reduction in exemption if you are hired by a business that meets certain requirements, but this time, we revised and abolished the business requirements so that even if they are employed by any business, they are not taxed, such as night pay.”

The government is planning to promulgate and implement the revised enforcement decree at the beginning of next month after collecting opinions from various fields through a legislative notice by the 20th, followed by a meeting of the vice ministers and the state council.

This is TBS Kim Jong-min.

#The Ministry of Strategy and Finance #Tax Law_Enforcement Decree_Amendment #Tax-free

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