Gift Tax Quick Estimator — Relationship, Prior Gifts and Deductions

Enter the value of the gifted property, your relationship to the donor, prior gifts and deduction conditions to roughly estimate Korean gift tax, with the points to check on valuation and before filing.

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💡 Terms & Cautions
Related Terms
Equal installments (principal+interest)
You pay the same combined amount of principal and interest every month. Interest makes up a larger share in the early months.
Equal principal
You repay the same amount of principal each month while interest shrinks with the balance, so the monthly payment gradually decreases.
Interest-only (balloon)
You pay only interest during the term and repay the full principal in one lump sum at maturity.
Total repayment
The sum of all principal and interest you pay over the life of the loan.
Cautions
Actual loans may involve extra costs such as origination fees, stamp duty, and guarantee fees.
With variable-rate loans, your monthly payment can change when the rate changes.
Disclaimer
These calculations are rough estimates for reference only and do not constitute tax or legal advice. Check actual amounts with your financial institution or the Korean National Tax Service.
Related Terms
Simple interest
Interest accrues on the principal only.
Monthly compound
Each month's interest is added to the principal and included in the next month's interest calculation.
Interest income tax
Interest income is generally subject to 15.4% withholding (14% income tax + 1.4% local income tax).
Preferential tax
Cooperative tax rates and tax-free limits are checked from the opening date, eligibility, and existing balances.
Cautions
If you close the account before maturity, a lower early-termination rate applies instead of the contracted rate.
Installment savings use the selected start- or end-of-month timing; actual payment dates may change the result.
Disclaimer
These calculations are rough estimates for reference only and do not constitute tax or legal advice. Check actual amounts with your financial institution or the Korean National Tax Service.
Related Terms
Revolving payment (partial-payment carryover plan)
A service that lets you pay only part of your card bill and carry the rest over to the next month.
Payment ratio
The minimum percentage you agree to pay each month. The lower it is, the longer the balance lingers and the higher the fees.
Revolving fee rate
An interest-like fee charged on the carried-over balance, set according to your credit within a cap of 20% p.a.
Cautions
If the balance drags on, total fees grow rapidly and your credit score may also be affected.
When you have spare funds, raising your payment ratio or making early payments works in your favor.
Disclaimer
These calculations are rough estimates for reference only and do not constitute tax or legal advice. Check actual amounts with your financial institution or the Korean National Tax Service.
Related Terms
Overdue interest
Extra interest you owe on amounts not repaid by the agreed date.
Overdue surcharge rate
A surcharge added to the contract rate (typically 3%p); the combined rate cannot exceed the legal maximum interest rate.
Legal maximum interest rate
Under Korea's lending and interest limitation laws, interest above 20% p.a. cannot be charged.
Acceleration of debt
If you stay overdue for a certain period, the entire loan can become immediately due and payable.
Cautions
Being overdue beyond a certain period can get your delinquency reported to credit bureaus.
After debt acceleration, the overdue rate applies to the entire principal, sharply increasing your burden.
Disclaimer
These calculations are rough estimates for reference only and do not constitute tax or legal advice. Check actual amounts with your financial institution or the Korean National Tax Service.
Related Terms
Early repayment fee
A fee financial institutions charge when you repay a loan before maturity.
Remaining-term sliding scale
A calculation method where the fee decreases proportionally as the remaining term gets shorter.
Waiver period
Many products waive the early repayment fee once 3 years have passed since the loan was issued.
Cautions
Rates and waiver conditions vary by product and signup date, so check your loan agreement.
If the interest saved exceeds the fee, early repayment can work in your favor.
Disclaimer
These calculations are rough estimates for reference only and do not constitute tax or legal advice. Check actual amounts with your financial institution or the Korean National Tax Service.
Related Terms
Capital gain
The profit remaining after subtracting the acquisition cost and necessary expenses from the sale price.
Long-term holding deduction
If you hold for 3+ years, part of the capital gain is deducted based on the holding period.
Single-home household exemption
A single home meeting requirements such as 2+ years of ownership (residency required in regulated areas) is tax-exempt up to a sale price of KRW 1.2B.
Tax base
The amount the tax rate applies to, after subtracting all deductions from the capital gain.
Qualifying registered rental
Surcharge relief requires tax-office and municipal registration, the statutory rental period, the start-date assessed-value limit, and the 5% rent cap.
Cautions
The calculator checks the main purchased-rental categories and the residence-home exception. Construction rentals, deregistration rules, and special reductions require separate review.
Before actually filing, always run the simulation on Hometax (hometax.go.kr, Korean NTS) or consult a tax accountant.
Disclaimer
These calculations are rough estimates for reference only and do not constitute tax or legal advice. Check actual amounts with your financial institution or the Korean National Tax Service.
Related Terms
Gift property deduction
The amount deductible per 10 years by relationship — e.g. KRW 600M for a spouse, KRW 50M for an adult child.
Tax base
The gift value minus the deduction; the tax rate is applied to this amount.
Filing tax credit
If you file voluntarily within the deadline, 3% of the calculated tax is credited.
Cautions
Same-donor gifts in the past 10 years are aggregated when they total at least KRW 10M; a direct ancestor's spouse is included.
Generation skipping uses 30%, or 40% when a minor receives more than KRW 2B.
Disclaimer
These calculations are rough estimates for reference only and do not constitute tax or legal advice. Check actual amounts with your financial institution or the Korean National Tax Service.
Related Terms
Comprehensive financial income taxation
When taxable interest and dividends excluding exempt and separately taxed income exceed KRW 20M, assessed tax is determined under comprehensive and comparison methods.
Withholding
When interest or dividends are paid, the financial institution withholds 15.4% in advance and remits it.
Separate taxation
A taxation method where withholding ends your tax obligation and the income is not added to your comprehensive income.
Cautions
Financial income above KRW 20M can also affect things like your eligibility as a health-insurance dependent.
Foreign financial income not withheld in Korea must be reported even below KRW 20M; foreign tax credits require a separate review.
Disclaimer
These calculations are rough estimates for reference only and do not constitute tax or legal advice. Check actual amounts with your financial institution or the Korean National Tax Service.

Information to prepare

Check the property's valuation on the gift date, the relationship between donor and recipient, prior gifts and deductions already used, and whether any debt is being taken over. For non-cash property, the asking price and the value under tax law may not be the same.

How it flows, with a hypothetical example

Review the gifted property and prior gifts that must be added together, reflect recognized debts and deductions, and then apply the rate to the tax base. For example, if the property is valued at 300 million won and you assume an applicable deduction of 50 million won, the simple difference is 250 million won. That does not mean the actual aggregation and deduction requirements are met; the calculated tax, taxes already paid and the filing credit are separate steps.

Scope

Marriage and childbirth deductions, generation-skipping gifts and gifts with assumed debt require checking the facts and evidence. Read the reference date and supported scope on screen before using it. If the calculation stops because a valuation check is needed or a special rule is not supported, do not change the conditions arbitrarily — check your documents.

Frequently asked questions

Is the gift tax the same for the same amount?

If the relationship, residency, prior gifts or deductions used differ, the result differs too.

If there is debt, can I deduct all of it?

You must check whether the debt actually taken over is recognized under tax law. A gift with assumed debt also requires reviewing other taxes, so confirm the final filing separately.

Official references (in Korean)

Written and maintained by the ConvoFin team · Updated . Examples use hypothetical conditions for understanding and do not guarantee the outcome of any individual contract or tax filing.

User guide · How to read the results (Korean) · Financial glossary (Korean)