①The provisions of Article 70-2 of the New Act on Special Measures Concerning Taxation apply to gift tax on funds for housing acquisition, etc. prescribed in paragraph (2), item (v) of that Article that a specified donee prescribed in item (i) of that paragraph acquires by gift on or after January 1, 2021, and the provisions then in force continue to govern gift tax on funds for housing acquisition, etc. prescribed in Article 70-2, paragraph (2), item (v) of the Former Act on Special Measures Concerning Taxation that a specified donee prescribed in item (i) of that paragraph acquired by gift before that date.

②The provisions of Article 70-2-2, paragraphs (7) and (8) of the New Act on Special Measures Concerning Taxation apply to the provision, made on or after the Effective Date to the business office or similar place of the handling financial institution referred to in paragraph (7) of that Article, by electronic or magnetic means prescribed in that paragraph, of the matters to be stated in a return for tax exemption of education funds prescribed in paragraph (2), item (iii) of that Article or a statement of additional tax-exempt education funds prescribed in paragraph (4) of that Article.

③In the case where, before the Effective Date, an individual acquired a beneficial interest in a trust prescribed in Article 70-2-2, paragraph (1) of the Former Act on Special Measures Concerning Taxation by an act of a donor prescribed in paragraph (10) of that Article, deposited money acquired by a written gift from that donor as deposits or savings at a business office or similar place of a bank, etc. prescribed in paragraph (1) of that Article, or purchased securities at a business office or similar place of a financial instruments business operator prescribed in that paragraph with monies, etc. prescribed in that paragraph acquired by a written gift from that donor, the provisions then in force continue to govern, where that individual received the application of the provisions of the main clause of that paragraph with regard to the value of that beneficial interest in a trust, money or monies, etc., the notification under the provisions of paragraph (10), item (i) of that Article pertaining to the death of that donor (excluding that notification in the case where, on or after the Effective Date, that individual has acquired that beneficial interest in a trust, money or monies, etc. pertaining to the application of the provisions of the main clause of Article 70-2-2, paragraph (1) of the New Act on Special Measures Concerning Taxation by an act of that donor or by a written gift from that donor), and inheritance tax on the remaining managed balance prescribed in Article 70-2-2, paragraph (10), item (ii) of the Former Act on Special Measures Concerning Taxation (limited to the amount calculated pursuant to the provisions of Cabinet Order as corresponding to the value of that beneficial interest in a trust, money or monies, etc.).

④The provisions of Article 70-2-3, paragraphs (7) and (8) of the New Act on Special Measures Concerning Taxation apply to the provision, made on or after the Effective Date to the business office or similar place of the handling financial institution referred to in paragraph (7) of that Article, by electronic or magnetic means prescribed in Article 70-2-2, paragraph (7) of the New Act on Special Measures Concerning Taxation, of the matters to be stated in a tax exemption return for marriage and child-rearing funds prescribed in Article 70-2-3, paragraph (2), item (iii) of the New Act on Special Measures Concerning Taxation or a statement of additional tax-exempt marriage and child-rearing funds prescribed in paragraph (4) of that Article.

⑤In the case where, before the Effective Date, an individual acquired a beneficial interest in a trust prescribed in Article 70-2-3, paragraph (1) of the Former Act on Special Measures Concerning Taxation by an act of a donor prescribed in paragraph (10) of that Article, deposited money acquired by a written gift from that donor as deposits or savings at a business office or similar place of a bank, etc. prescribed in paragraph (1) of that Article, or purchased securities at a business office or similar place of a financial instruments business operator prescribed in that paragraph with monies, etc. prescribed in that paragraph acquired by a written gift from that donor, the provisions then in force continue to govern, where that individual received the application of the provisions of the main clause of that paragraph with regard to the value of that beneficial interest in a trust, money or monies, etc., inheritance tax on the remaining managed balance prescribed in paragraph (10), item (ii) of that Article pertaining to the death of that donor (limited to the amount calculated pursuant to the provisions of Cabinet Order as corresponding to the value of that beneficial interest in a trust, money or monies, etc.).