Over Half of Monthly Renters Unaware of Tax Credit Benefits

More Than Half of Renters Unaware of Monthly Rent Tax Credit
Lack of Understanding of Eligibility and Benefits
SamzzomSam Research Lab Calls for System Improvements to Alleviate Housing Costs

Jarvis and Villains, the operator of the tax platform 'SamzzomSam', announced on the 13th that a survey found that more than half of households living in rental properties are unaware of the 'Monthly Rent Tax Credit' system.

SamzzomSam Research Lab, citing its recently published report on the 'Blind Spot of Monthly Rent Tax Credit', explained, "Although the monthly rent tax credit has been steadily improved through the efforts of the tax authorities, a significant number of taxpayers are still unable to benefit from it."

Image of the report results on the 'Blind Spot of Monthly Rent Tax Credit.' Jarvis and Villains

The survey was conducted among 465 customers who used the SamzzomSam refund service during the 2024-2025 annual comprehensive income tax filing period, had lived in rental properties within the past five years, and had a total annual salary of 80 million won or less, making them eligible for the monthly rent tax credit. In addition, in-depth interviews were conducted with six of these respondents.

The results showed that more than half of the respondents were unaware of the monthly rent tax credit system. Specifically, 55.5% said they did not know about the 'tax credit benefits', and 57.4% were unaware of the 'eligibility requirements'. Furthermore, 62.4% said they had never received any tax credit benefits.

Looking more closely at the eligibility requirements, the greatest lack of understanding was regarding the 'standard market price'. A total of 88.6% of respondents either did not know the concept of the standard market price or did not know how to check it. Additionally, 54% said they were unaware of the requirement for the name on the contract to match the taxpayer.

SamzzomSam Research Lab stated, "Although there are various eligibility requirements such as total salary, standard market price, tax creditable amount, and tax credit rate, simply relaxing quantitative requirements is not enough to address the blind spots. The system should be expanded to focus on the actual burden-bearers of monthly rent, the criteria for determining homeownership should be revised, and the standard market price requirement should be clarified, in order to fulfill the original purpose of alleviating housing costs for non-homeowners."