― Parents pay 1.1 billion won in insurance premiums, and suspect it is an expedient gift
― I used the borrowing card, but I am wondering if I pay 10 million won per month of interest.
Overheated areas in the metropolitan area such as Gangnam-Songpa-Yongsan
Ministry of Land, Infrastructure and Transport announces the results of the actual transaction planning survey
-A, who is in her twenties, bought an apartment worth 1.8 billion won in Gangnam-gu, Seoul this summer. In the financing plan, he wrote that 900 million won was prepared by canceling savings insurance. However, as a result of examining the details of insurance premium payment by the Real Estate Market Misconduct Response Team of the Ministry of Land, Infrastructure and Transport, it was found that he paid 800 million won in December 2010 and 300 million won in December 2012 as insurance premiums. He was a minor at the time the premium was paid. The response team notified the National Tax Service that it was suspected that Mr. A’s parents had donated cash expediently. It seems that there is a high possibility that the parents paid the insurance premium that Mr. A owed instead. The IRS is currently investigating whether Mr. A and his parents are suspected of tax evasion.
Mr. B, in his 30s, bought an apartment worth 3 billion won in Seoul’s Gangnam area this year and wrote a financing plan that he borrowed all the purchase funds from his father. He even attached the borrowing card as a document. However, the response team reported this to the National Tax Service as a suspected case of abnormal transaction. This means that the IRS should continuously monitor whether interest is paid at the appropriate tax rate (4.6% per year) on the money borrowed from the father. If you borrow 3 billion won at 4.6% per year, the interest alone will exceed 10 million won per month.
-The Ministry of Land, Infrastructure and Transport targets major housing transactions overheated areas in the metropolitan area such as the Korea Real Estate Agency and the land transaction permission zones in Gangnam, Songpa, and Yongsan-gu, Seoul for about 5 months from June this year to last month. On the 16th, the results of the’real transaction planning investigation’ were announced. The survey targets were 577 suspected abnormal transactions out of 7592 reports of actual transactions in these regions from around May and June to the end of August. By region, Gangnam-Songpa-gu 322, Yongsan-gu 74, and Gyeonggi 181. Among them, a total of 190 suspected violations, including 109 cases of tax evasion, including the donation of expedient laws between relatives, 3 violations of the loan regulation, 76 violations of the Transaction Reporting Act, and 2 violations of the Registration Special Measures Act, were found. Previously, the survey focused mainly on expensive housing transactions with a market price of more than 900 million won, but this time, as the survey was conducted on a specific area, houses with a market price of less than 900 million won were also targeted.
-C, a retailer in her 40s, bought an apartment worth 800 million won in Yongsan-gu this year and received a loan from a bank for the use of SMEs working capital. He spent 200 million won out of a total of 300 million won in loans for the purchase of the house. The Ministry of Land, Transport and Maritime Affairs asked the Financial Services Commission and the Financial Supervisory Service to check whether or not the loan was violated. If a violation of the rules is confirmed, the loan will be withdrawn. The response team announced that since its inception on February 21 this year, a total of 47 cases (61 people) were filed through criminal investigations in the real estate market, of which 27 cases (27 people) were sent to the prosecution. The cases of fraudulent subscription in which people with disabilities or people of national merit are borrowed their names and transferred to Gosiwon were mainly caught.
The response team is an organization that must operate for a limited time for one year until February next year. When the Real Estate Transaction Analysis Institute is launched next year, it will continue its business such as actual transaction investigation. However, as the National Assembly is delaying the passage of related laws, it is predicted that the launch of the Analyst Institute may be delayed after February. An official from the Ministry of Land, Infrastructure and Transport said, “Even if the launch of the Analyst Institute is delayed, existing business such as real estate market research and monitoring will continue.”
Reporter Lee Sae-sam [email protected]Go to reporter page>
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