Korean Air up their pay

[Capt Kremin]

TYPE
NEW PAY RATE (totalgross*package USD/month)
INCREASE
B777
$12,932
$2000
B744
$13,332
$1000
A330
$11,432
$1000
B737NG
$9,442
$1000


The amounts are tax paid.

Home Bases - LHR, FRA, CDG, AKL, SYD, BNE, LAX, YYZ, YVR, JFK, SFO, ORD, ATL, HKG, KUL, BKK

Rishworths have the details.

[404 Titan]

Capt Kremin

The amounts are tax paid only in SKorea. My advice is to be very careful with commuter rosters. Most countries will treat you as a resident for tax purposes on commuter rosters.

[Capt Kremin]

True. Posted for info only.

[Aussie]

Can you actually be based in Korea on these contracts or not?

[captains.log]

Still quite a bit under done.

[nike]

what % does the middle guy take?

any way around these blood suckers?

[haughtney1]

The amounts are tax paid only in SKorea. My advice is to be very careful with commuter rosters. Most countries will treat you as a resident for tax purposes on commuter rosters.

I can only echo 404's advice..do the research, and get a good tax accountant.

[Higs]

Ok so they are paying US 2 K extra. Well that about makes up for the worsening exchange rate!!
No matter how you spin it you will still be away for up to 20 days in a row and flying with a FO who would sooner not have you there.
:(

[Lodown]

any way around these blood suckers?

These guys are doing for you today what your union reps did for you yesterday. Look at it as the cost of doing business. It's in their interest as well to negotiate a higher wage for you. Negotiation is something that most pilots are not capable of doing well themselves.

[Trashed Aviator]

The only way around it may be to form a group of endorsed wannabes , hire an interpreter and offer your services collectively at the magic 20k which would easily extract me to icn....
For Info the following countries have a tax treaty with Australia and South Korea is on it, so im not sure of the rules exactly but I think you are only required to pay the tax in one of the countries. If the ATO still make you a resident they would have to reduce your tax bill by the amount of tax paid in Korea, that would be the worse case.

Argentina
Italy**
Slovakia

Austria**
Japan**
South Africa

Belgium**
Kiribati
South Korea**

Canada**
Malaysia
Spain

China
Malta**
Sri Lanka

Czech Republic
Mexico
Sweden**

Denmark**
Netherlands**
Switzerland**

Fiji
New Zealand
Taipei

Finland
Norway**
Thailand

France**
Papua New Guinea
United Kingdom

Germany**
Philippines**
United States

Hungary
Poland
Vietnam

India
Romania

Indonesia
Russia

Ireland**
Singapore

[Ramboflyer 1]

The Korean income-tax rate is 5 to 10 percent. Must be 10 %. Average Australian tax on that amount around 40% can now be reduced by 10% for tax credit from Korea.
Rough figures only pay approx 30% tax on total amount if treated as Australian Resident.
Should leave about 10,000 to 11,000 AUD per month in hand.

[Outtahere]

The tax paid on your behalf to clear Korean tax obligations is $100 USD/ month approx. Not much of a tax credit.

[haughtney1]

Get your salary paid into your "employers" (your employer can be a private "consultancy) bank account in Jersey or Mauritius or Bermuda...the Caymans.....etc etc etc
Like I say, get a good accountant :}

[Metro man]

Leave Australia, simple as that. Easier done if single than with a family I know. Is it really worth losing 1/3 of your salary just for living there ? Low to middle income it's one of the best countries in the world to live, for high income earners few benefits other than the lifestyle, many aspects of which can be found elsewhere at far lower cost.

For a single pilot why not spend your time off in Paris, Phuket, Los Angeles, Vancouver etc.

For married Aussies having the family in New Zealand might work out. For foreigners there less than six months a year it should be easier to stay under the radar.

Best advice, get a good accountant to sort it out before hand.;)

[Chocks Away]

Forget NZ Metro Man, the lezo with no dental policy running that country has nothing but taxes on everything, 12.5% GST, over governance and too many councils charging unjustified rate increases.
Johny Howard last year, for the first time in decades, was able to lower the tax rates and increase the bracket thresholds. I would have been much better off there then (and now). (If you vote him out now after the 10 years steady growth, through many a world & local crisis, you'd be fools and may as well head to one of the many countries listed above!)
:ok:

[Jock McPlop]

Yep Stay away from the USD.

Its going down the toilet big time

I cant believe these asian carriers still quote wages in a continually depreciating currency. More interest rate cuts will cause it to spiral even further

Euro or Swiss Franc is the only way to go :D