Celebrity marriage congratulatory money and gift tax, such as Lee Seung-gi, can be paid [Star Tax Story]
May 12, 2023
[Sports Seoul] Regarding the controversy over the wife's family, such as the donation of congratulatory money related to the recent marriage of singer and actor Lee Seung-gi and actor Lee Da-in, Lee Seung-gi said, "I made a promise to my wife Lee Da-in before and after marriage." did. I will take care of the places that need help and take care of the more painful places.”
And he expressed his will to do good deeds, saying, "I plan to use all the congratulatory money from Lee Seung-gi and Lee Da-in as a support fund for children in the underprivileged."
Not only star celebrities like Lee Seung-gi, but also regular celebrities revealed how much money the attendees paid during the wedding ceremony, and it became a hot topic.
Singer Jang Yoon-jung is famous for her great love for fans, giving 10 million won in congratulatory money to a fan club member's wedding and singing a congratulatory song for free to congratulate a fan's marriage.
Broadcaster Lee Sang-min remembered what singer Park asked him to buy a washing machine despite his difficult circumstances due to debt and paid 3 million won for the wedding ceremony, which became a hot topic.
Money received free of charge is subject to gift tax, but congratulatory money received free of charge at the normal level is not subject to gift tax.
In addition, gifts for marriage, such as daily household goods purchased by parents, relatives, and acquaintances to the marriage party at the time of marriage are not subject to gift tax.
However, the IRS is taxing unconventional gifts, expensive luxury goods, real estate such as houses and cars.
Therefore, when purchasing assets before or after marriage, you must be careful as you may pay gift tax depending on who you purchased the assets with the gift money belonging to.
Wedding congratulatory money is a social practice established as a beautiful traditional and beautiful custom of our society, and it is believed that the purpose of easing the financial burden of parents, who are temporarily expensive when a wedding occurs.
Therefore, the National Tax Service judges that the part that can be seen as directly handed over according to the relationship between the groom and the bride of the marriage party belongs to the marriage party, and the rest belongs to the parents of the married person.
Therefore, gift tax can be imposed when a large amount of assets are purchased as congratulatory money belonging to the parents of the marriage owner.
However, in the case of gift tax, the property received from parents is subject to gift tax of up to 50 million won for 10 years.
Celebrities can say that most of the congratulatory money comes from the fame of the person concerned, so it can be said that it belongs to the bride and groom, but for ordinary people, the groom and the bride will assume that the rest of the money, except for the congratulatory money directly handed over to the person involved in the marriage, is the property of the parents of the married person.
If you plan to acquire assets as a congratulatory money, it is good to keep the guest book, receipt, etc. for the source of funds so that you can confirm that the money was directly handed over to the marriage party according to your relationship.