Hello everyone! 😊 Today, I’d like to introduce the Hometown Love Donation Program and the tax benefits you can receive through year-end tax deductions. This program allows you to support a local government outside of your current residence while also enjoying tax benefits and receiving special gifts in return. Let’s dive into the details!
🌱 What Is the Hometown Love Donation Program?
The Hometown Love Donation Program enables individuals to donate to a local government other than their place of residence. By participating, you can contribute to the development of the region while also receiving special gifts as a token of appreciation.
✅ Annual Donation Limit: Up to 5 million KRW per person
✅ Eligible Local Governments: Any local government except your place of residence
✅ Benefits: Tax deductions + special gifts
💰 Tax Benefits
One of the biggest advantages of this program is the income tax deduction benefit you can claim during your year-end tax settlement.
📌 Tax Deduction Rates
✔ Donations up to 100,000 KRW: 100% tax deduction (you get the full amount back)
✔ Donations over 100,000 KRW: 100,000 KRW deducted in full, and 16.5% of the remaining amount is deducted
📌 Examples
- Donate 100,000 KRW → Full amount deducted
- Donate 500,000 KRW → 100,000 KRW fully deducted + 16.5% tax deduction on the remaining 400,000 KRW
- Donate 1,000,000 KRW → 100,000 KRW fully deducted + 16.5% tax deduction on the remaining 900,000 KRW
This means that the more you donate, the more tax benefits you receive, making it an excellent way to reduce your tax burden! 😊
🎁 Special Gifts for Donors
As a token of appreciation, local governments offer special gifts worth up to 30% of your donation amount.
✅ Gifts include local agricultural products, specialty goods, traditional liquor, and more
✅ Your donation helps stimulate the local economy
With this program, you’re not just donating—you’re supporting a community, receiving unique gifts, and even benefiting from tax deductions!
📝 How to Apply for the Hometown Love Donation Program
1️⃣ Visit the official website Hometown Love e-um
2️⃣ Select the local government you want to donate to
3️⃣ Enter your donation amount and proceed with payment
4️⃣ Choose your special gift
5️⃣ Claim your tax deduction during year-end tax settlement
📢 You can also apply in person at NH Bank (NongHyup) or through local government offices!
🔍 Final Thoughts
The Hometown Love Donation Program is a fantastic initiative that allows you to support local communities while receiving personal benefits. Since it offers substantial tax deductions, it’s an excellent way to maximize your year-end tax savings. If you haven’t considered it yet, now is the perfect time! 😊
