PERSONAL FINANCE IN JAPAN
Just in time, here is the video from my online event for Fukui JALT last week. I’m really grateful to the chapter for inviting me, and had a great time talking to the participants in the Q&A session after the talk.
In this video we are just showing the lecture part of the event. We had a long question and answer session after this, but in the interests of protecting the privacy of participants we didn’t include it. The video is just under 40 minutes long, so just right for a lunch break đŸ™‚
It’s pretty basic stuff, so long term readers might not learn much, but might be good to share with colleagues and friends. Let me know what you think!
If you would like to book me to talk to your group or organization, please get in touch and I’ll be delighted to discuss your needs.
Thanks! I found it really interesting
Thanks as always Ben! Do you have more info about that compensation about the depreciation of houses against the income tax? (For Japan, as I think you mentioned that the government capped for abroad). First time hearing that, I’ve only heard about that 1% remaining mortage deduction. Can you take both deductions?
Hi Alvaro
Sorry that wasn’t more clear! You can deduct depreciation as a business expense on a rental property if you are a landlord. I don’t think you can do it on your residence.
Thanks Ben! Interesting… So you could take the 1% mortgage deduction for your private (first) residence and then deduct depreciation as business expenses for subsequent properties you are renting to someone else? Is that it?
If that is the case, it could make it worthier and actually plausible for consideration as another investment!
Yes, many people with high incomes use rental real estate to reduce the amount of income tax they pay.
Wow! And how would someone know how much their property has depreciated? Is there any post explaining this on the forum? I don’t want to flood the comment section but this is incredibly valuable info!
Any accountant or the tax office can explain the details đŸ™‚