On the afternoon of the afternoon of the 15th, the afternoon of the afternoon of the afternoon of the 15th, when the year-end settlement simplification service was opened, the Hometax year-end settlement simplification service was opened, and an employee is checking the Hometax website and receiving an inquiry phone call.
The’year-end settlement simplification service’ began on the 15th, and the year-end settlement called ’13 month bonus’ or’additional tax bill’ began in earnest. In particular, it is necessary to look closely at the medical expense sector, which is easy to overlook.
According to the Korea Taxpayer Association’s ‘7 medical expenses that are easy to miss in the year-end settlement simplification service’ on the 18th, glasses and contact lenses for vision correction paid with a card from this year are inquired in the year-end settlement simplified service.
However, it should be noted that details purchased in cash are not searched. Therefore, it is necessary to obtain a receipt separately from the place of purchase that confirms the actual user and submit it to the company. Eyeglasses for vision correction can be recognized as medical expenses up to 500,000 won per family member.
Infertility treatment fees can be deducted by 5% only after receipt. In the medical expense tax credit, 15% of the expenditure exceeding 3% of the annual salary is deducted from the tax credit, but the cost of fertility treatment is deducted by 20%. Since it is provided without distinction in the medical expense category of the year-end settlement simplified service, the 20% tax credit is applied only when the employee receives a confirmation of payment of medical expenses from hospitals and pharmacies and separately write them.
If you have purchased disability security equipment such as hearing aids and wheelchairs, you must pay a receipt for the rental cost. This is because the rental fee for purchasing the disabled security equipment does not correspond to the mandatory fee required by the law and is not inquired by the year-end settlement simplified service. Therefore, an individual must receive a receipt and submit it to the company.
You should also check whether medical expenses such as local clinics and long-term care institutions are omitted. These home facilities are small in size, so data may be delayed or not submitted. If the data is not searched by the year-end settlement simplification service, a separate receipt must be issued from the relevant institution and submitted to the company.
If you received indemnity insurance in the year following your medical expenses, you must file a revised report next year. For example, if you spent 1 million won in medical expenses last year and received 800,000 won in January of this year, you will be referred to the year-end settlement simplified service next year instead of this year. Therefore, until the comprehensive income tax return in May next year, it is necessary to file a revised return for the amount deducted this year.
It is necessary to obtain a certificate of disability from a hospital for severely ill patients such as cancer and dementia. This is because the disabled person under the tax law is a broader concept than the concept under the Disability Welfare Act. If your parents and siblings are severely ill, such as cancer, stroke, chronic renal failure, leukemia, or other intractable diseases, you must obtain a certificate of disability from the hospital and submit it to the company to deduct additional deductions for the disabled and medical expenses. Basic deductions are possible even if they are under the age of 60 if parents living separately or siblings living with resident registration are disabled.
Medical expenses of children who became adult last year can only be inquired through the’information provision agreement’ procedure. Those born before December 31, 2001 must go through the’information agreement’ procedure in Simplified Year-End Settlement to confirm the child’s expenditure in the year-end settlement simplified service of workers as before.
Seongsu Bae, reporter Hankyung.com [email protected]
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