Recognizing the seriousness of the low birth rate problem, the government has come up with policies to encourage childbirth, such as a reduction in neonatal acquisition tax and special loans for newborns. The policy I will introduce this time is a reduction in neonatal acquisition tax (up to 5 million won).
Families who have given birth to newborns will be given 100% reduction in real estate acquisition tax up to 5 million won, so if you are planning to give birth and have a plan to buy your own house, please check the information and apply for benefits.
However, it is a system that supports childbirth and home purchases for a specific period of time, so please read it carefully.
▶ I think those who apply for a reduction in neonatal acquisition tax will be very interested in special loans for newborns. You can get good conditions that cannot be received from loans that can be received from commercial banks, so if you are eligible, please never miss them and check them out and enjoy the benefits provided by the government.
▶ Confirmation of special loan conditions for newborns
Apply for a reduction in neonatal acquisition tax (up to 5 million won is exempted)
< Contents>
∎ Conditions for applying for a reduction in acquisition tax for newborns
∎ How to apply for a reduction in acquisition tax for newborns
∎ Precautions for the reduction of acquisition tax for newborns
∎ I’d like to inform you about the reduction of the acquisition tax for newborns
Conditions for applying for a reduction in acquisition tax for newborns
The most basic part of the conditions for applying for a reduction in neonatal acquisition tax is to classify the targets eligible for the reduction. Newborn acquisition tax reduction targets are eligible for benefits for families who gave birth to newborns from January 1, 24 to December 31, 25.
•Information on application for reduction of acquisition tax for newborns
Information on the application for reduction of acquisition tax for newborns
Item Contents
Period January 1st, 24th to December 31st, 25th
100% reduction in benefits acquisition tax
Up to 5 million won
1. It will take effect on January 1st, 24.
2. It applies to newborns born in 24 years and is one house per household.
3. It is a house acquired for 24 years and is actually a house for residential purposes.
4. If a newborn baby-birth household buys a house, it can receive a 100% exemption from acquisition tax within a maximum of 5 million won.
5. You can benefit if you bought a house within five years of giving birth or if you gave birth within one year of your home purchase.
Acquisition tax must occur when purchasing real estate, and I think the neonatal acquisition tax reduction is a very beneficial policy as acquisition tax is imposed between 1% and 12% depending on the number of houses, area, and price.
acquisition tax rate according to housing prices
1% of houses under 600 million won
1~3% of houses with more than 600 million won and less than 900 million won
3% of homes worth more than 900 million won
The neonatal acquisition tax exemption can be a good opportunity to minimize the tax burden that can be burdensome when purchasing a house, as it can be a small burden and an additional 0.3% local education tax will be imposed and 0.2% special farming and fishing villages will be imposed if the area of the house exceeds 85㎡.
Newborn Foot View (1)
Newborn Exemption from Acquisition Tax
Newborn Foot View (2)
▶ As the special loan for newborns is a very useful government support system along with the reduction of acquisition tax, it is highly recommended that those who have plans to give birth should check it.
▶ Confirmation of special loan conditions for newborns
How to apply for a reduction in acquisition tax for newborns
Newborn acquisition tax reduction applications must be reported and paid within 60 days from the birth date of the newborn.
•How to apply for a reduction in acquisition tax for newborns
1. Period of application for reduction of acquisition tax for newborns
From January 1st, 24th to December 31st, 25th, newborn baby-birth households are eligible for the reduction.
2. Place of application for reduction of neonatal acquisition tax
You can apply for the neonatal acquisition tax reduction at the city, district, county tax department or tax office. You can also apply online, so please refer to it.
3. Newborn Acquisition Tax Reduction Required Documents
Where to collect necessary documents
Application for reduction or exemption of acquisition tax shall be placed at the Gun or Gu Office
Certificate of Homeless Persons (Tax Certificate by Local Tax) Government 24:00
A copy of resident registration, a copy of resident registration, and a family relationship certificate at 24:00 in the government
a certified copy of the register at the Supreme Court’s Internet registry office
Real estate sales contract Real estate sales contract
▶ In the case of a copy of resident registration, an abstract, a certificate of family relationship, and a copy of the register, you can easily get it issued free of charge on the Internet, so please refer to it and prepare the necessary documents right away.
▶ Free access to a certified copy of the register
▶Government 24 Internet issuance
Precautions for the reduction of acquisition tax for newborns
Please note that we will give you good precautions to know in order to receive a reduction in the acquisition tax for newborns.
•Precautions for Newborn Acquisition Tax Reduction
1. Acquisition declaration and payment must be made within 60 days from the balance date.
2. Homes already acquired can also benefit if you give birth within one year from the date of acquisition.
3. You can also receive benefits if you become one household and one house within three months from the date of acquisition of the house.
4. You can benefit from a house purchased within five years of giving birth or if you have given birth within one year of buying a house.
I think there may be some confusion in the beginning as it is a new system introduced by the government to overcome the low birth rate crisis. However, it is expected to be established quickly as it benefits families with newborn babies.
▶ If you have given birth to a newborn baby, you can apply for parental benefits, including special loan for newborns and exemption from acquisition tax, so please refer to this and enjoy this benefit.
▶ How to apply for parental benefits
I’d like to inform you about the reduction of the acquisition tax for newborns
As the neonatal acquisition tax reduction is a new policy proposed by the government to overcome the low birth rate crisis in Korea, I hope this policy will minimize the financial burden on families who are about to give birth.
I think the biggest reason for the low birth rate crisis in Korea is the economic situation, including the preparation of my own house, which is necessary to raise a child. In order to encourage childbirth, I think aggressive policies that can be clearly felt with the skin, such as the reduction of acquisition tax for newborns, are essential.