The semi-annual application date for the 2024 Earned Income Tax Credit is approaching soon. This year, you can receive up to 3.3 million won. After applying for the semi-annual period, the regular application period immediately follows, so check the schedule in advance so you don’t miss out.
Please check the semi-annual application period and payment date for the earned income tax incentive, application target, payment amount, and application method in order and make sure to receive it.
👉🏻 If you are curious about your eligibility, please check first 👈🏻
Check application eligibility >
Semi-annual application period and payment date for earned income tax incentives
The work incentive is a system that supports workers, business owners (excluding professionals), and religious people who are working but have difficulty making a living due to low income.
You can apply for the Earned Income Tax Credit three times a year: regular application, semi-annual application, and application after the deadline.
1. Semi-annual application period and payment date
Semi-annual applications are divided into the first half and second half of the year and payments are made once every six months. Applications for the first half of this year are the same as those for the second half of last year (2023). The application period is from March 1 to 15, and payment is made in June.
✅ Half-year application (first half)
▪ Standard: 2nd half of 2023
▪ Schedule: March 1, 24 ~ March 15, 2024
▪ Payment amount: additional payment or refund (final settlement)
▪ Payment date: June 24
✅ Semi-annual application (second half)
▪ Standard: First half of 2024
▪ Schedule: September 1, 24 ~ September 15, 2024
▪ Payment amount: 35% of the incentive amount
▪ Payment date: December 24
2. Regular application period and payment date
Regular applications are based on last year’s total income and are applied for in May and paid at the end of August.
✅ Regular application
▪ Standard: 23 years regular supply
▪ Schedule: May 1, 24 ~ May 31, 2024
▪ Payment amount: Incentive calculation amount
▪ Payment date: late August 24
3. Application period and payment date after deadline
The application period after the deadline is from June 1, 24 to November 30, and only 90% of the payment amount will be paid. (10% will be deducted, so be sure to apply within the available deadline)
📌 If you need an employment incentive application, you can download it directly below.
Work incentive (semi-annual) application form.hwp
0.10MB
Application for employment incentives (regular, post-deadline).hwp
0.10MB
Eligible for applying for 2024 work incentives
Semi-annual application for work incentives
Semi-annual application for work incentives
Work incentive semi-annual application payment date
Conditions for applying for work incentives are calculated based on the total income and total assets of each household and are paid differentially.
1. Subject
✅ Semi-annual application: Earned income earner
✅ Regular application: Salary income earner, business income earner, religious income earner
Eligible applicants must meet all of the household type, income, and asset criteria below.
2. Furniture type
✅ Single-family household: Household without spouse/dependent children (under 18 years of age)/linear ascendants over 70 years of age
✅ Single-income households: Households with spouse/dependent children (under 18 years of age) and direct ascendants over 70 years of age.
(In this case, the spouse’s total salary must be less than 3 million won, and the direct ascendant over the age of 70 must have an annual income of less than 1 million won.)
✅ Dual-income households: Households where the total salary of the applicant and spouse is more than 3 million won
3. Income standards by household
Based on total annual income, single-income households must have an annual income of less than 22 million won / single-income households must have an annual income of less than 32 million won / double-income households must have an annual income of less than 38 million won.
✅ Single household: Annual income less than 22 million won
✅ Single-income households: Annual income less than 32 million won
✅ Dual-income households: Annual income less than 38 million won
What is your total income?! This is the sum of earned income (total salary amount), business income (total income amount
4. Property standards
The total assets of household members must be less than 240 million won. At this time, self includes houses, land, buildings, deposits, real estate acquisition rights, vehicles, financial assets, securities, membership rights, etc., but excludes liabilities.
✅ Total assets standard: Total assets of household members less than KRW 240 million
✅ Including property: housing, land, buildings, deposit, real estate acquisition rights, vehicles, financial assets, securities, membership rights
✅ Excluding assets: Liabilities
Check application eligibility >
payment amount
There is a limit to the amount paid for each household, and payments are made differentially within each limit depending on the income of the applicant. The limit is 1.65 million won for single-income households, 2.85 million won for single-income households, and 3.3 million won for dual-income households.
✅ Payment amount per household
▪ Single household: 1.65 million won
▪ Single income household: 2.85 million won
▪ Dual-income household: 3.3 million won
📌 In the case of semi-annual applications, since the annual total income standard is unknown, the amount applied for in the first half of the year is paid as the amount converted by dividing the total salary of the first half of the year by 12 months. When applying in the second half of the year, the payment amount is determined by adding the total salary of the first and second half of the year.
Work incentive semi-annual application payment date
Even if your income and assets meet the standards, some of the amount may be reduced if you meet the conditions for reduction. Details subject to reduction are as follows.
✅ Eligible for reduction in earned income incentives
▪ If the total assets of household members are between KRW 170 million and less than KRW 240 million: 50% reduction in incentives.
▪ In case of duplicate application for income tax child tax credit or child incentive: Child tax credit corresponding tax amount is reduced in the payment app
▪ If there is a national tax arrears: up to 30% of the payment amount will be used to cover the arrears.
▪ When applying after the deadline: 10% reduction in incentive amount
▪ Recovery of payment: Additional tax imposed (22/100,000 per day)
How to apply
There are three ways to apply. Apply in any convenient way.
1. Apply at Home Tax (PC/mobile app)
✅ PC: Access the National Tax Service’s Home Tax service to apply
✅ Mobile app: Access the National Tax Service Sontax app to apply
Apply at the National Tax Service Hometax >
Apply on the mobile Sontax app >
2. ARS phone application
Just call ARS (1544-9944) > Enter your resident registration number > Enter the individual authentication number (8 digits) written in the application guide and follow the instructions to apply.
3. Apply by proxy
If the applicant agrees, a counselor at the Incentive Counseling Center (1566-3636) or a tax office employee can apply on behalf of the applicant.
Semi-annual application for work incentives
Semi-annual application for work incentives
Semi-annual application for work incentives
Work incentive semi-annual application payment date
So far, we have provided guidance on the semi-annual/regular application period for the earned income tax incentive and how to apply. Be sure to check if you are eligible and apply within the deadline to ensure you receive the subsidy.