Some people are preparing for the upcoming year-end tax settlement through a preview of the year-end tax settlement. In a press release on October 31, 2023, the National Tax Service reported that it would launch the “Preview of year-end tax settlement” and “Batch provision of simplified data” services for optimal tax saving strategies.
Please use the year-end tax settlement preview service below to receive your last paycheck.
Year-end tax settlement preview (Hometax)
Preview of year-end tax settlement Home tax tax saving tips
Preview of year-end tax settlement Home tax tax saving tips
1. Calculate credit card income deduction amount
The most important thing in previewing year-end tax settlement is calculating credit card income deductions. Use this menu to calculate the credit card income deduction amount in advance. You can calculate the estimated tax amount for this year by modifying the deduction amount of the item filled with the amount settled at the end of last year.
If you first select Load 2022 Payment Statement, last year’s total salary and credit card data will appear.
Currently, we provide usage details of credit cards, debit cards (check cards), cash receipts, etc. until September of this year, and you can check the income deduction amount that changes depending on your spending details after October.
Preview of year-end tax settlement Home tax tax saving tips
Preview of year-end tax settlement Home tax tax saving tips
Preview of year-end tax settlement Home tax tax saving tips
Preview of year-end tax settlement Home tax tax saving tips
2. Calculation of expected tax amount for year-end tax settlement
With the year-end tax settlement preview, you can calculate income deductions for credit cards, debit cards, etc. Secondly, you can calculate the expected tax amount for the year-end tax settlement. If you modify the 2022 year-end tax deduction amount and enter this year’s expected total salary and already paid tax amount, the expected tax amount for 2024 will be automatically calculated.
After checking the estimated tax amount, you can modify deduction items such as personal deductions and insurance premiums and find out in advance whether the amount is exceeding or falling below the deduction limit, so you can devise a tax saving plan.
Preview of year-end tax settlement Home tax tax saving tips
Preview of year-end tax settlement Home tax tax saving tips
Preview of year-end tax settlement Home tax tax saving tips
Preview of year-end tax settlement Home tax tax saving tips
3. How to pay 100,000 won and receive 130,000 won in benefits (Hometown Love Donation System)
If you donate 100,000 won through the Hometown Love Donation System, which will be implemented from January 1, 2023, you can receive a 100,000 won tax deduction. In addition, if you donate 100,000 won, you can receive 30%, or 30,000 points, which can be used to receive gifts in return. You can choose the region you like and want to donate to, but each gift varies depending on the region, so we recommend looking at the gift first and donating to that region. I had no choice but to choose a gift that suited the region.
Card payment is also possible, but since it is classified as a local tax, if you wish to check the previous month’s performance or accumulate points, please keep this in mind when making a card payment.
Go to Hometown Love Donation System