Direct Bond Tax Saving Calculator

Estimate direct bond after-tax yield, fee drag, contribution value, and interest-rate stress scenario.

Direct bond tax-saving calculator

Compare low-coupon or zero-coupon Korean bond investing against a fully taxable equivalent return by separating taxable coupon interest from tax-free capital gain.

Purchase price

₩9,302,082

Tax-free capital gain

₩697,918

Total tax saving

₩107,478

After-tax bond yield

4.3%

Coupon financial income

₩200,000

Verdict

저쿠폰 절세

표면이자는 15.4%로 과세되지만 매매차익은 비과세입니다. 비과세 자본차익 697,918원이 과세 대상에서 빠집니다. 같은 세전 수익을 전액 과세하는 예금·고쿠폰채와 비교하면 실효세율이 15.4%에서 7.12%로 낮아져, 보유기간 합계 107,478원(연 35,826원)을 아낄 수 있습니다.

Uses calcBondTaxSaving to preserve coupon taxation at 15.4%, tax-free trading gain, YTM/price conversion, coupon frequency, and comprehensive-tax threshold logic. This English finance calculator calls the same Korean pure calculation module as the Korean page. KRW, Korean statutory thresholds, tax rates, and product rules are preserved instead of the old generic percentage stub.

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Direct bond tax-saving guide

This English guide translates the Korean direct bond tax-saving page. The calculator calls calcBondTaxSaving and keeps coupon tax, tax-free capital gain, YTM, price, and comprehensive-tax treatment.

Coupon tax versus capital gain

For individual Korean bond investing, coupon interest is taxed at 15.4%. By contrast, capital gain is tax-free under the model used by the Korean page, so a low-coupon discount bond can have a lower effective tax burden than a fully taxable product with the same pretax return.

This distinction is strongest for a zero-coupon or very low-coupon bond bought below par. The result separates annual coupon, total coupon, capital gain, tax-free gain, and total pretax return.

YTM and price input

The page can solve a purchase price from YTM or accept price per KRW 10,000 face value. That is why the English calculator keeps both YTM and price per KRW 10,000 face value instead of reducing the page to a single interest-rate box.

Coupon frequency affects how the bond price and coupon tax are interpreted. The model supports annual, semiannual, quarterly, and monthly coupon assumptions, matching the Korean pure function.

Comprehensive-tax threshold

The Korean engine compares bond annual financial income with a taxable equivalent product around the KRW 20 million comprehensive-tax threshold. A bond can avoid comprehensive taxation when only the coupon portion is counted as financial income.

The output reports after-tax bond yield, equivalent after-tax yield, tax saving, annual saving, and whether comprehensive tax is avoided. Product credit risk, duration risk, and liquidity risk still remain outside the tax formula.