Rent Deduction II



Monthly rental tax credit conditions;


In order to receive a monthly rent deduction, you must meet all of the following conditions.


① Total salary is not more than 70 million won (including those with a total income of less than 60 million won among earned income earners),

② As of December 31, the head of family do not applied for a housing related deduction (if the head of a Family does not receive a housing-related deduction, a member of family can apply it),

③ Residential office-tels (first monthly rent can be deducted from August 13, 2013) and Goshiwon (monthly rent can be deducted from the year-end settlement in 2017 if the requirements for Goshiwon are met), and the standard price is less than 300 million won from 2019 regardless of the house size,

④ The address of the lease agreement is the same as the address of the resident registration,

⑤ The name of the contractor is the applicant or the person subject to the basic deduction(dependents)



Points to pay attention to monthly rent tax deductions


① There is a deadline for reporting. You must report it within 3 years from the monthly rent payment date.

② Monthly rent tax deductions cannot be applied to credit card income deductions again. Income deductions for the amount used, such as credit cards, can be applied only if the monthly tax credit is not applied.

③ In the case of year-end settlement using a monthly rent cash receipt, a tax deduction must be obtained by excluding the amount of "monthly rent cash receipt" from the amount used in "cash receipt".

④ If you apply for income deduction for monthly rent, you must fill out a statement of monthly rent income tax deduction.