The year-end tax settlement season, which is the 13th month’s salary, is approaching. If you are curious about your year-end tax refund, please check it using the year-end tax settlement preview.
Go to year-end tax settlement preview
year-end settlement
year-end settlement
First, go to Hometex and log in. Below you can see a mock calculation.
Go to Hometex
year-end settlement
year-end settlement
Enter the mock calculation and click the Auto-calculate year-end tax settlement button at the bottom to enter the 2023 automatic calculation.
year-end settlement
year-end settlement
An automatic calculation service that allows year-end tax settlement for 2023 will be released. Here, click the Edit Total Salary/Payable Tax Amount button.
year-end settlement
year-end settlement
For example, if your total salary is 40 million won and your income tax is 1.3 million won, enter the information above and click Apply.
year-end settlement
year-end settlement
You also need to enter credit card, insurance, medical expenses, etc., and you can check this by going to View Existing Hometax Menu in Hometax → Inquiry/Issuance → Simplify Year-End Tax Settlement. You can then check employee income and tax credit data as shown above.
year-end settlement
year-end settlement
Currently, only the 2022 attribution is visible, but it is said that you can check from January 15, 2024, so please check and apply.
year-end settlement
year-end settlement
Return to the year-end tax settlement mock calculation and, if there are personal deductions, click the +Edit button, check if there are personal deductions and additional deductions, and press the Apply button.
year-end settlement
year-end settlement
Click Pension Insurance Premium Deduction + Edit, enter the total amount of National Pension Insurance Premiums you paid for 2023, and click Apply.
year-end settlement
year-end settlement
Enter all remaining applicable items, click Calculate, and then click the View Calculation Results Details button.
year-end settlement
year-end settlement
From the tax deduction, you will receive a refund of -872,500 won in income tax and -87,250 won in local income tax, totaling 959,750 won.
The prepaid tax amount is the tax you paid for one year, and the determined tax amount refers to the tax you actually have to pay after taking into account all the cards you used, medical expenses, donations, etc.
Please note that a “-” must be added to the deducted tax amount to receive a refund. If there is no “-“, additional tax will be collected and you will have to pay more tax. Please note.