Domestic gym and swimming pool usage fee income deduction… Up to 3 million won starting in July
The Ministry of Culture, Sports and Tourism has expanded the scope of cultural expense tax deductions to include gyms and swimming pools, allowing wage earners with a total salary of 70 million won or less to receive a 30% deduction on facility usage fees, up to a maximum of 3 million won.
The Ministry of Culture, Sports and Tourism, together with the Korea Culture and Information Service, announced that starting next month, facility usage fees at approximately 1,000 gyms and swimming pools nationwide will be eligible for tax deductions.
Previously, the cultural expense income deduction was mainly applied to the cultural and artistic fields such as books, performances, museums, art galleries, newspapers, and movies, but this time, in order to reduce the financial burden of exercise, the deduction target was expanded to the sports field for the first time.
Among them, gyms and swimming pools, which are the most frequently used representative sports facilities, were included in the income deduction target.
Accordingly, wage earners with a total salary of 70 million won or less can receive 30% of the facility usage fee as an income deduction, up to a maximum limit of 3 million won.
The criteria for facility usage fees that are subject to deduction are slightly different depending on the usage item.
The admission fee is recognized as a facility usage fee in full, but in cases where the facility usage fee and non-facility usage fees are not separated, such as in-facility class fees, only half of the total amount can be recognized as a facility usage fee.
In addition, purchases of sports equipment and beverages within the facility are excluded from the facility usage fee.
The Ministry of Culture, Sports and Tourism and the Korea Culture and Information Service have been recruiting businesses that wish to participate in the system since the beginning of this year, and by the end of this month, approximately 1,000 gyms and swimming pools nationwide have registered.
We plan to continue to promote the system to the public, online media, and the industry and the public to expand the number of participating organizations.
You can check the list of currently applicable facilities on the Cultural Expense Income Deduction website, and you can also register new facilities.
Detailed information, such as how to apply for the Cultural Expense Income Deduction system, can be found on the Cultural Expense Income Deduction website and at the customer center.
The government expects that this income deduction system will further promote physical activities, promote health, and revitalize the sports industry.
A policy officer from the Ministry of Culture, Sports and Tourism said, “We hope that you will check the nearby income deduction applicable facilities on the Cultural Expense Income Deduction website and enjoy more benefits,” and “We hope that businesses will actively participate and apply, as they can expect increased sales through increased consumer searches and marketing effects.”
[Editor Lee]
