Up to how much is the gift limit between spouses possible?

For the gift limit between spouses, gift tax is deducted for up to 600 million won in total over 10 years.

In other words, the transfer of property between spouses can proceed without a tax burden within a certain range, and gift tax is imposed only on the amount exceeding this.

Such a standard is judged centering on the gift limit between spouses.

For reference, a deduction is recognized for up to 50 million won for an adult child and up to 10 million won for other relatives, respectively.

A gift tax return can be filed through electronic filing via the National Tax Service's Hometax or by visiting the competent tax office, and generally, documents such as the tax base return, the statement of the valuation of the gifted property, and the voluntary payment form must be submitted.

The deadline for filing and payment is within 3 months from the last day of the month to which the gift date belongs, and if the return is filed within the deadline, some tax credit benefits may apply, but if there is a delay or omission, a penalty tax may be imposed, so caution is required.

In addition, because the taxation standard may vary depending on the time of the gift and the method of property valuation, an accurate calculation of the amount in advance is important.

In particular, in the case of a high-value gift, it is advisable to conduct a tax review in parallel to reduce an unexpected tax burden.