Samsung Securities, Year-End Brokerage ISA Tax Saving Support Event

[Asia Economy Reporter Ji-hwan Park] Samsung Securities announced on the 22nd that its 'Brokerage-type ISA' has surpassed 750,000 accounts and is conducting a 'Tax-saving Support Event.'

The brokerage-type ISA is a tax-advantaged account where profits earned from investments within the account are tax-exempt up to 2 million KRW, and profits exceeding that amount are subject to a low separate tax rate of 9.9%. Annual contributions are allowed up to 20 million KRW.

Since the contribution limit is set on an annual basis and can be carried over, even if you do not deposit investment funds immediately, you can prepare the account in advance and invest up to a total of 40 million KRW the following year by adding the carried-over 20 million KRW.

The 'Tax-saving Support Event' is a long-term event Samsung Securities has been running since it first launched the brokerage-type ISA in the industry last February, aligning with the tax-saving trend. The event runs until the end of this year, and customers who meet certain conditions in the brokerage-type ISA can receive gift certificates worth up to 50,000 KRW.

To participate in the event, customers must make a net deposit of a certain amount in the non-face-to-face brokerage-type ISA, trade an amount equal to the net deposit, and maintain the balance until January 31 of next year.

Eligible trading products include domestic stocks, ETFs/ETNs, ELS, DLS, ELB, DLB, and funds. MMFs and RPs are excluded. However, accounts changed from discretionary or trust-type ISA to brokerage-type ISA and customers who have received rewards from the five previous tax-saving support events held until October are excluded from the event benefits.

The 'Investment Brokerage-type Individual Savings Account (ISA)' is an upgraded 'comprehensive financial investment management account' introduced in 2016, improving on the existing ISA accounts where stock trading was not possible. It is a useful asset management tool. Through the brokerage-type ISA, it is now possible to offset gains and losses between stock trading losses and other products such as funds. Tax exemption benefits apply up to a combined gain or loss of 2 million KRW (4 million KRW for low-income subscribers). Amounts exceeding this are subject to a separate low tax rate of 9.9%, allowing for tax benefits.

Samsung Securities is also offering a service until the end of this year where customers who open a brokerage-type ISA account at Samsung Securities can receive lifetime commission discounts when trading domestic stocks online.

This content was produced with the assistance of AI translation services.