Monthly Rent Tax Credit Calculator
Estimate the Korean rent tax credit for non-homeowner employees. Enter your annual salary, monthly rent, and months paid.
Pre-tax annual salary from line 21 of your withholding receipt (before non-taxable allowance deductions).
Estimated refund (tax credit)
1,224,000KRW
17% applied
- Annual rent total
- 7,200,000KRW
- Creditable amount
- 7,200,000KRWlimit 10,000,000 KRW
- Credit rate
- 17%
- 17% applied (salary ≤ 55M)
What is the rent tax credit?
Article 95-2 of Korea's Restriction of Special Taxation Act offers a tax credit to non-homeowner employees with annual salary up to 80,000,000 KRW who pay rent in their own name. Salary up to 55,000,000 KRW gets 17%; from 55,000,000 to 80,000,000 gets 15%. Annual eligible rent is capped at 10,000,000 KRW. The maximum refund is 17% × 10,000,000 = 1,700,000 KRW.
Credit rates
| Annual salary | Credit rate |
|---|---|
| ≤ 55,000,000 KRW | 17% |
| 55,000,000–80,000,000 KRW | 15% |
| > 80,000,000 KRW | Not eligible |
Annual eligible rent capped at 10,000,000 KRW (≈ 833K × 12)
Eligibility (all required)
- Household (you + spouse) owns no home
- Annual salary ≤ 80M KRW (or comprehensive income ≤ 70M for self-employed)
- Lease in your name + rent paid from your bank account
- Rented unit ≤ 85㎡ floor area, or assessed value ≤ 400M KRW
Frequently asked questions
- Tax credit vs deduction?
- Korea currently runs a tax credit, which directly reduces income tax and is refunded. The 'jeonse loan principal+interest income deduction (40%)' sometimes mentioned online is a separate program for jeonse loans, unrelated to monthly rent.
- Is resident registration required?
- Yes — the rented unit must show your resident registration. The lease and rent payments must be in your name (joint or family-name leases may be rejected).
- Do gosiwon/dorms/officetels qualify?
- Residential gosiwon, urban-style housing, and residential officetels qualify if you are registered there. Office officetels and short-term lodging (hotels, pensions) are excluded. The size/value criteria still apply.
- Are receipts or bank records needed?
- Yes — you'll need a cash receipt or bank transfer record for year-end settlement. Even if your landlord is not registered as a business, you can apply through Hometax.
Reference only. Models the rent credit under §95-2 RSTA. Self-employed comprehensive-income (60M cap), partial-year exact day counts, and landlord-business-registration nuances are simplified. Actual refund follows year-end settlement or income tax filing.