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A study on the taxation of an occupation right of an association member - focusing on the regulatuon which regards an occupationright of an association member as a house -

  • Public Land Law Review
  • Abbr : KPLLR
  • 2010, 48(), pp.87-112
  • Publisher : Korean Public Land Law Association
  • Research Area : Social Science > Law

JOONG KYO LEE 1

1연세대학교

Accredited

ABSTRACT

Housing redevelopment and housing reconstruction projects usually give rise to complex tax issues. One of them is the taxation of occupation right of an association member. An occupation right of an association member means the position of a selected occupant upon the approval of the management disposition under the provisions of Article 48 of the Act on the Maintenance and Improvement of Urban Areas and Dwelling Conditions for Residents. Korean capital gains tax(transfer income tax) on housing has very unique features in the world. Income accruing from a transfer of one house for one household is not levied. On the other hand multi house owners are subject to heavy capital gains tax such as high tax rate and the exclusion of special long-term holding deduction amount. Income Tax Act has an individual regulation which regards an occupation right of an association member as a house in each case. It is justified by the fact that an occupation right of an association memberas is an extension or transformation of a house. But the regulatuon which regards an occupation right of an association member as a house in each case is very complicated and inconsistent. Therefore we need to stipulate a general regulation which regards an occupation right of an association member as a house in order to simplify tax law and maintain consistency. Also the general right to buy a house as well as an occupation right of an association member should be regarded as a house in terms of fairness.

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