2005 is my third financial year in Korea. The first two years for Australians are tax free 🙂
The Korean tax system is based on the calendar year whereas Australia’s is July – June.
I think the Korean system is better b/c the tax year is the same as the calendar year. But it also means you have to do your taxes at Christmas time! That sucks!
The English version of the Korean tax website is at Korean Tax office
They have a word document explaining the tax system at Korean Taxation 2005 It has a HWP extension (Hangul Word Processor) but it is actually a word document, so don’t panic.