[2021 뉴노멀] Property Tax Pump … Maximum Tax Rate for Severance Tax 6%

▲ Starting this year, the 6.0% maximum tax rate will apply to people with multiple households, increasing the tax burden ⓒ Provided by Yonhap News

Starting this year, the tax rate for people with multiple households will increase to a maximum of 6%, and the transfer tax for people with multiple households in the adjusted area is overwhelming, raising concerns about a tax bomb. .

The government raised the tax burden on people with multiple households through last year’s revised tax law. Starting this year, multiple homeowners who own three or more houses or two houses in areas subject to adjustment, such as Seoul, are subject to tax rates ranging from 1.2% for less than 300 million won to 6.0% for more than 9.4 billion won.

1 For homeowners, the tax rate is expanded from 0.6% to 3.0% depending on the tax base. The base tax rate of less than 300 million won will increase from 0.5% last year to 0.6% this year, and the final tax rate will increase from 1.0% to 1.2% for section 6 ~ 1.2 billion won and 1.4% to 1.6% for the 1.2 ~ 5 billion won section.

The upper limit for itemized charges for second owners in the area subject to adjustment is raised from 200% to 300%, and the upper limit for itemized charges for corporations is removed.

It will also increase the transfer tax rate for people with multiple households in the area subject to adjustment. The transfer tax rate for houses held for less than two years and people with multiple dwellings in the area subject to adjustment is oversized to 70% for those transferred after June 1 and less than one year, and the rate basic tax is 60%.

Also, for people with multiple dwellings in the area subject to adjustment, a 20% P is added to the basic tax rate for people with two dwellings and 30% P for persons with three dwellings.

Sales rights are also subject to a tax rate of 70% if held for less than 1 year, regardless of region as of June this year, and 60% for other cases.

The deduction rate, which was 8% per annum, is adjusted to the ‘4% retention period + 4% residence period’ of houses transferred after January 1, as the residence period was added to the retention requirement long-term special deduction for 1 household and 1 house exceeding KRW 900 million .

A new section will be established that will exceed the 1 billion won tax base for high-income people, and the income tax rate for this section will increase from 42% to 45%.

Considering equity with the home purchase price, the standard for the price of pre-sale rights for homes eligible for the long-term mortgage loan income deduction rises from 400 million won to 500 million won.

Landlords should also be careful about fines. The rental reporting system to cheonsei was implemented as of June, and the rental transaction by general landlords other than the rental business owners must report the actual price of the transaction to the local government within 30 days , and violation of this can result in a fine of up to 1 million won.

In addition, changes from this year include the mandatory cash receipt business, the bedroom and gosi Wonun business, the reading room transportation business, the hair beauty business, the hardware and equipment retail business. heating, the shoe retail business, the pet and clothing retail business, computers and peripherals in 77 companies such as lawyers and other professionals. Nine industries will be added, including device / software retail and communication device retail.

Currently, the simplified taxation that applies to sole proprietorships with annual sales (consideration for the offer) of less than 48 million won is extended to sole proprietorships of less than 80 million won.

General taxpayers who meet the conditions will be converted to simple taxes in July, but the current standard of 48 million won for the taxable real estate and entertainment rental business is maintained.

However, to avoid the deterioration of the transparency of the tax source, general taxpayers with annual sales of 48 million won or more, who are currently required to issue tax invoices, continue their duty to issue tax invoices even if they become to simplified taxation.