Have you participated in the Hometown Love Donation System, which allows you to receive a 100% year-end tax deduction for a certain donation amount and even receive a gift in return? Today, we will learn about the benefits of the Hometown Love Donation System and how to apply.
Find out information about health insurance premium refunds!
We will tell you how to apply for a national refund.
Have you ever found that the costs you paid at the hospital or pharmacy were higher than expected? In Korea, health insurance provides refunds for excessively paid out-of-pocket expenses that exceed the standard. Today is the national health rebate.
richgrandmother.tistory.com
Hometown Love Donation System
The Hometown Love Donation System is a system that donates to local governments and provides gifts and tax deductions in return.
Donation limit: A total of 5 million won or less per year
Where you can donate:
Target audience: wage earners, self-employed individuals, minors (guardian certification required for those under 14 years of age)
Circumstances in which donations are not possible: Corporations, organizations, foreigners
1. Tax deduction
Donation 100,000 won or less: 100% (full tax deduction)
Donation exceeding 100,000 won: 16.5% (16,500 won deduction)
To put it simply, the concept is that if you donate 100,000 won to love your hometown, you will receive 100,000 won back at the end of the year tax refund. Since you receive a gift in return, it is not a loss, but a huge benefit.
One thing to note is that the hometown love donation system tax deduction standards are ‘individual’. Even if you donate to various places such as Gyeonggi-do, Jeolla-do, Gyeongsang-do, and Gangwon-do, you cannot receive all deduction benefits. Therefore, it may be a good idea to donate to only one or two local governments.
2. How to check donation payment certificate
The hometown love donation is a statutory donation. If you make a hometown love donation in 2023, you can receive a tax deduction for year-end tax settlement next year. Earned income earners are automatically reflected in the simplified year-end tax settlement data. If the donation is not made like a sole proprietorship, you can submit a separate donation certificate.
Hometown Love Donation System website > My Page > Donation details > Check the electronic payment number. Afterwards, you can print the hometown love donation payment confirmation form from E-Tax or Wi-Tax.
Seoul: Etax
Areas other than Seoul: Witax
3. Return gift
30% of the donation is given as a gift in return. If you donate 100,000 won, you can receive a gift worth 30,000 won. Some cities and provinces are currently preparing return gifts, and some are also paid with local love currency points.
Hometown Love Donation System – Return Gift – Local Love Currency
Hometown Love Donation System Return Gift Local Love Currency
After making a hometown love donation to Gyeonggi-do, I received a gift in return with local love currency. It is said that the Love Currency point card will be sent to your home by mail within 7 business days.
Go to see the return gift
Hometown Love Eum
shop.ilovegohyang.go.kr
How to apply for donation
1. Hometown Love Eum Internet Access
2. Donate hometown love > Select the donation itself > Check address
3. Check donor information > Enter donation amount > Select return gift > Pay donation
When selecting a gift as a gift, be sure to select [Receive a gift as a gift]!
4. Payment method: Enter bank, account number, contact information, etc.
Hometown Love Donation – How to Apply
How to apply for Hometown Love Donation
If you have difficulty donating online, you can visit the nearest Nonghyup to make a donation and apply for a gift (from 9 a.m. to 4 p.m.). The Hometown Love Connection Counseling Center is at 1522-2431.