Landlord Rental Income Tax Filing Guide (Korea)

Who needs to file

If you receive rent or an imputed rental-value amount from a property, you're generally required to file rental income tax. Owners of 2+ properties, or a single owner renting out a high-value home, are especially likely to have a filing obligation. Check Korea's National Tax Service (Hometax) for whether your specific situation applies.

The ₩20 million threshold: flat-rate vs. combined taxation

• ₩20 million or less in annual rental income: you can elect a flat 14% separate tax rate.
• Over ₩20 million: rental income is combined with your other income and filed as comprehensive income tax.

Which is better depends on your other income, deductible expenses, and available credits — Hometax's calculator can simulate both.

How to file

File during the comprehensive income tax season (May) through Hometax. Have your lease agreement, rental income records, and expense documentation ready. If your situation is complex, a licensed tax accountant (세무사) is worth consulting.

Consider registration too

Separately from filing, whether to register as a licensed rental-housing business also affects your taxes and how you can operate your listings — see Should You Register as a Rental Business?.

Seoul Homes's landlord plan is designed so you can list directly with no business registration required — see Register as a landlord.

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This article is general information, not individual tax advice. Confirm your actual filing obligation and tax amount through Hometax or a licensed tax accountant.