Got walloped on last year's Korean tax — F-6 with side tutoring + Aussie writing, how to plan?
Right mate, second year on F-6 and the first May tax filing surprised me — turned out I owed way more than expected because I had freelance tutoring income that the school wasn't withholding. I'd rather not get walloped again next year.
My situation: F-6, part-time at an international school (they withhold tax monthly), plus freelance tutoring on the side that's all paid into my Korean account direct, plus a small bit of writing for an Aussie company that pays into my Aussie account.
Two questions:
- The freelance Korean income — am I supposed to pay tax quarterly or monthly, or just sort it all out in May? Last year I just put it all in May and got a nasty bill.
- The Aussie writing income — is that taxable in Korea? Australia treaty says I can claim back what I paid to ATO if I'm Korean tax resident. But how does this actually work in practice?
Anyone done this without paying a fortune to an accountant?