Rent Tax Credit Calculator

Rent Tax Credit Calculator helps estimate Korea-related income tax from income, deductions, rates, and credits in English.

Rent tax credit inputs

Eligibility

Eligible

All statutory checks passed.

Rent tax credit refund

₩1,795,200

Deduction rate 17.0%.

Cash receipt saving

₩475,200

Income deduction alternative.

Recommended method

Tax credit

₩1,320,000 difference.

Tests Korean monthly-rent tax credit eligibility and compares it with cash-receipt income deduction using the same salary and comprehensive-income thresholds, annual rent cap, deduction rates, local tax refund, household, move-in, contract, floor-area, and assessed-value conditions as the Korean calculator. This English calculator calls the same pure tax calculation function used by the Korean page. Inputs and labels are translated; the formula is not replaced by a generic value-times-rate stub.

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Rent tax credit calculator

This English page translates the Korean monthly rent tax credit guide and preserves eligibility tests, annual rent cap, credit rates, local tax refund, cash-receipt comparison, and housing-size rules.

Income and rent cap

For salary earners, the high eligibility ceiling is KRW 80 million of total salary, and the higher credit rate applies at KRW 55 million or less. For comprehensive-income filers, the high ceiling is KRW 70 million and the middle threshold is KRW 45 million.

Annual rent eligible for the tax credit is capped at KRW 10 million. The credit rate is 17 percent at the lower income level and 15 percent at the higher eligible income level, with local income tax refund added at 10 percent of the credit.

Housing and household tests

The taxpayer must generally be a homeless household head or a qualifying household member whose household head is not already receiving housing-related credits. Move-in report and taxpayer-name lease contract conditions are also checked.

The housing condition uses exclusive area of 85 square meters for general households and 100 square meters for multi-child households, or alternatively a publicly assessed value of KRW 400 million or less.

Cash receipt comparison

When the tax credit is not available or is less favorable, the calculator compares the cash receipt income deduction. The Korean model applies a 30 percent rent income deduction and then estimates tax saving from the marginal income tax rate plus local tax.

Use this result when deciding whether to claim the rent tax credit, cash receipt deduction, or neither. Lease documentation, move-in reporting, and payment evidence are essential for an actual year-end settlement claim.