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  • LWattrus
  • Explorer

    • 5

    • February 24, 2012, 06:43:51 pm
    • South Korea
SMOE Renewal Bonus 2015
« on: March 26, 2015, 01:21:23 pm »
Hey Guys
Just checking if any Soulites have received their 2mil bonus for renewing their contracts at the end of Feb. I expected mine to come through this payday but no luck. I know they are cutting our bonuses but my understanding was that will only start from 2016.


Re: SMOE Renewal Bonus 2015
« Reply #1 on: March 26, 2015, 01:24:24 pm »
Check with your Admin office. Some schools have new admins so they may be out of the loop. You are correct, the renewal bonus are not in the next contract.


  • 한소로
  • Expert Waygook

    • 783

    • March 20, 2012, 07:50:46 am
    more
Re: SMOE Renewal Bonus 2015
« Reply #2 on: March 26, 2015, 03:20:35 pm »
Yeah, they might have just misunderstood. I had to explain it to my school that it was next year, and they took care of it.


Re: SMOE Renewal Bonus 2015
« Reply #3 on: April 01, 2015, 07:37:03 am »
Is it supposed to be taxed?

I only had 1.2 million added to my usual salary (not the 2 million as stated in the SMOE contract)


Re: SMOE Renewal Bonus 2015
« Reply #4 on: April 01, 2015, 07:41:52 am »
Mine got taxed as well.

too much tax now, i hate it.


  • riceboy77
  • Adventurer

    • 37

    • September 18, 2012, 01:33:44 pm
    • SEOUL
Re: SMOE Renewal Bonus 2015
« Reply #5 on: April 01, 2015, 07:46:36 am »
I believe starting this year the new tax law will be in effect ... Which sucks :sad:


  • Space
  • The Legend

    • 2288

    • May 09, 2012, 10:11:12 pm
Re: SMOE Renewal Bonus 2015
« Reply #6 on: April 01, 2015, 07:51:37 am »
I believe starting this year the new tax law will be in effect ... Which sucks :sad:

What new law? I've already been taxed a ridiculous amount this year.


  • Pecan
  • The Legend

    • 3769

    • December 27, 2010, 09:14:44 am
    • Seoul
Re: SMOE Renewal Bonus 2015
« Reply #7 on: April 01, 2015, 08:00:27 am »
For what it is worth, mine has never been taxed, since they began paying the 2 million, rather than airfare.


Re: SMOE Renewal Bonus 2015
« Reply #8 on: April 01, 2015, 11:35:27 am »
Mine got taxed as well.

too much tax now, i hate it.

I think i got taxed about 800,000 on the 2 million, leaving me with 1.2 million added to my salary.
That's a 40% tax rate. Very high in my opinion. If it's actually legit due to a new law then that's fair enough. But if a mistake has been made then i'd like to know before i start ruffling any feathers.

Just wondering if you got taxed by a similar amount? 

Or is the tax rate a combination of the bonus PLUS the salary? If that's the case then i got about 20% tax taken away from the "Bonus + Salary."


  • jamonamagnet
  • Expert Waygook

    • 610

    • April 01, 2015, 10:09:26 am
    more
Re: SMOE Renewal Bonus 2015
« Reply #9 on: April 01, 2015, 12:07:19 pm »
It's taxable because it's income.  However, it comes at the same time as your tax for the entire year is calculated.  Over the year the school deducts estimated taxes.  At the end of the year they calculate the actual total tax and deduct more or less from your paycheck, depending on how accurate the estimated tax was throughout the year.

You can ask your school office for a payslip, which will detail your gross income, deductions, and net pay.

(Why do I have to answer stupid questions to post?  The capital of Turkey is Ankara, but that is not accepted.)


Re: SMOE Renewal Bonus 2015
« Reply #10 on: April 01, 2015, 12:27:22 pm »
If you got it at the end of February, check if the local ed office took off income tax every month last year or not.  Sometimes, they don't and then you get this huge deduction at the end of winter.  Which reminds me, I've got to call and make sure I get my taxes deducted monthly so I don't get a big surprise next year. 

A couple of chicks I knew got a huge amount taken off around the same time they got their bonuses.  I was originally hired in a December but had to sign another contract a few months later.  So, I renew in the spring every year.  I'll let you know in a couple of months what I get.  But, it should be the 2 million. 



Re: SMOE Renewal Bonus 2015
« Reply #11 on: April 01, 2015, 12:54:42 pm »
Last year I got 2 million for renewing.

I also got 2 million last year. But i'm wondering if the tax system has changed this year as an earlier poster alluded to.


  • donuts81
  • Hero of Waygookistan

    • 1364

    • October 20, 2010, 10:23:37 am
    • Korea
Re: SMOE Renewal Bonus 2015
« Reply #12 on: April 01, 2015, 01:01:07 pm »
For what it is worth, mine has never been taxed, since they began paying the 2 million, rather than airfare.

I don't think it's supposed to be taxed. It's a renewal bonus. Last year I got 2 million for renewing. My renewal doesn't start until the end of April, so I won't know how much I get until May's paycheck.

Umm, everything is supposed to be taxed.

Count yourself lucky and don't stay in Korea too long.
"You can't hurt me now, Mr Lee. I've lost all feeling"


  • Pecan
  • The Legend

    • 3769

    • December 27, 2010, 09:14:44 am
    • Seoul
Re: SMOE Renewal Bonus 2015
« Reply #13 on: April 01, 2015, 01:10:09 pm »
Not true.

Housing doesn't get taxed either.


  • jamonamagnet
  • Expert Waygook

    • 610

    • April 01, 2015, 10:09:26 am
    more
Re: SMOE Renewal Bonus 2015
« Reply #14 on: April 01, 2015, 01:19:22 pm »
Not true.

Housing doesn't get taxed either.

If housing is provided you don't get taxed on the equivalent income (i.e. the amount of rent that is being paid to your landlord by the school).  But, if you elect to take the housing stipend then it is income and it is taxable.  Some schools don't tax it, but that's a mistake.


Re: SMOE Renewal Bonus 2015
« Reply #15 on: April 01, 2015, 01:59:40 pm »
Actually I double checked and I wasn't taxed as it goes, I am just overly sensitive this year and paying tax in my mind rather than reality.