Tax on Rakuten Sec

[John_conner]

Hi

I have absolutely no idea when it comes to taxes so please bear with me.

I maxed out my NISA which due to being tax free I assume I don’t need to worry about. But, I also bought emaxis in my taxable account, i believe there is two choices when you buy in a taxable account. One where you have to do the taxes and another when Rakuten works them out and sends you a report? Is this correct?

Thanks in advance for any help.

[beanhead]

Did you sell any of the fund and make a gain? If not, nothing to worry about.

If you did, then yes, whether you bought it in the tokutei account or ippan account is the key.
Tokutei is the default, and if you buy here, they will take out the 20.315% tax owed for you. No report needed, nothing to declare to the tax authorities.

[TBS]

Tokutei is the default, and if you buy here, they will take out the 20.315% tax owed for you. No report needed, nothing to declare to the tax authorities.

Note there are both withholding and no-withholding versions of Tokutei. Obligatory link to the amazing reddit r/japanfinance thread on account types https://www.reddit.com/r/JapanFinance/c ... _accounts/

But yeah, if OP didn't sell anything or receive any dividends it is easy - no tax due.

[zeroshiki]

AFAIK Rakuten doesn't call the no-withholding account Tokutei. They only have tokuten (withholding) and ippan (non-withholding) options.

[adamu]

AFAIK Rakuten doesn't call the no-withholding account Tokutei. They only have tokuten (withholding) and ippan (non-withholding) options.

Come on, it took me 30 seconds to check that that's not true. Let's post accurate information, rather than shooting from the hip with incorrect information.

[RetireJapan]

Yeah, with Rakuten you choose which type of tokutei account you want in the account settings, then on the purchase screen you just get the usual ippan, tokutei, or NISA selection.

[beanhead]

Note there are both withholding and no-withholding versions of Tokutei. Obligatory link to the amazing reddit r/japanfinance thread on account types https://www.reddit.com/r/JapanFinance/c ... _accounts/

Good point. Sorry, forgot that.