Gift and Inheritance Tax Calculator

Estimate Korea-related gift or inheritance exposure under simplified tax and asset-growth assumptions.

Gift and inheritance tax scenario

Estimate Korean gift tax and inheritance tax side by side using the same progressive brackets and deduction rules as the Korean page.

Gift tax payable

₩4,850,000

4.9%

Gift taxable base

₩50,000,000

Deduction ₩50,000,000

Generation-skip surcharge

₩0

Inheritance tax payable

₩0

0.0%

Total inheritance deduction

₩1,040,000,000

Filing credits

₩150,000

Uses 2026 Korean gift/inheritance brackets, spouse and financial-asset deductions, 10-year gift aggregation, generation-skip surcharge, and 3% filing credit logic. This English finance calculator calls the Korean feature lib for its numeric result. KRW inputs and outputs replace the old generic USD projection stub for this batch.

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Gift and inheritance tax calculator

This English guide translates the Korean gift-tax and inheritance-tax calculator. It preserves the progressive brackets, relationship deductions, generation-skipping surcharge, and 3% filing credit by calling calculateGiftTax and calculateInheritanceTax.

Gift tax rules preserved

Gift tax is calculated after applying 10-year relationship deductions. The Korean page keeps KRW 600 million for a spouse, KRW 50 million for an adult child or parent case, KRW 20 million for a minor child, KRW 10 million for other relatives, and no basic relationship deduction for unrelated recipients.

Progressive rates run from 10% to 50% by taxable base. Direct gifts to grandchildren can trigger generation-skipping surcharge of 30%, and if a minor grandchild receives more than KRW 2 billion the surcharge can rise to 40%.

Inheritance tax rules preserved

The inheritance side uses assets minus debts, funeral cost, and available deductions. The Korean content highlights the lump-sum inheritance deduction of KRW 500 million, spouse deduction up to KRW 3 billion, financial-asset inheritance deduction of 20% up to KRW 200 million, and other family deductions.

Gifts made within 10 years before death to heirs are added back to the inheritance base; gifts to non-heirs are generally added for 5 years. The English content keeps those look-back periods because they are central to the Korean planning logic.

Reporting and planning

Voluntary filing within the legal period gives a 3% tax credit. Gift tax is generally reported within 3 months from the gift month-end, while inheritance tax is reported within 6 months from the month-end of death.

Long-term planning often uses 10-year deduction resets, spouse transfers, financial-asset deductions, and documented valuations. Late filing can lose the credit and may add non-filing, under-filing, and late-payment penalties.