Guide for the mortgage deduction?

[TelecInvestor]

Hi everyone and happy new year!

We bought a place some months ago and we are expecting to receive it in a few months (and start paying the mortgage)

I heard that to ask for the 1% mortgage deduction you need to fill up some documents and present them on the 確定申告 or something like that... Sorry I'm not too familiar, which is why I wanted to ask if there was any good (English written, ideally) comprehensive guide on how to do so, from RJ or somewhere else (Reddit, etc.).

Thanks!

[TelecInvestor]

This is the most detailed info I found, with steps for the e-tax:

https://www.sumai-fun.com/money/mortgag ... procedure/

[Tkydon]

https://www.nta.go.jp/taxes/shiraberu/s ... ku/r03.htm

住宅借入金等特別控除額

https://www.nta.go.jp/taxes/shiraberu/s ... df/030.pdf
Page 3
https://www.nta.go.jp/taxes/shiraberu/s ... r03/14.pdf

令和３年分所得税及び復興特別所得税の手引き（確定申告書B用）

https://www.nta.go.jp/taxes/shiraberu/s ... df/002.pdf
Pages 4-5, 26
Form B - Page 1 - Item 34

https://www.nta.go.jp/taxes/shiraberu/s ... df/050.pdf
https://www.nta.go.jp/taxes/shiraberu/s ... df/060.pdf
Page 44
Form B - Page 1 - Item 34

You will need to go to your local Tax Office and complete the Kakutei Shinkoku before Mar 15.
As you are to receive a refund, you can submit even before Feb 15.

You should take along your Gensen Choshuhyo,
Zandaka Shokai - Year-End Mortgage Statement
Information about the Property (Land/Structure Cost Allocation)
If you had any significant Medical Expenses (over 100,000) or any Furusato Nozei, you should take along the receipts.
If you have any additional Insurance Receipts
And documents for anything else you need to report or claim.
You should also take your MyNumber Card and your Hanko


Do the list of Medical Expenses before you go.
https://www.nta.go.jp/taxes/shiraberu/s ... df/008.pdf
https://www.nta.go.jp/taxes/shiraberu/s ... f/ref1.pdf
https://www.nta.go.jp/taxes/shiraberu/s ... /ref1.xlsx

The kind helpful people at the Tax Office will help you enter the information in the correct boxes in the On-Line system and arrange for your refund to be deposited to your bank account around Apr 15.

You will then receive a set of vouchers for future years' claims.

From next year, you can just submit the voucher and Year-End Mortgage Statement, along with the insurance receipts, etc., to your company for the Nenmatsu Chosei, and they will process the refund in December Payroll.

The amount changes every year for new loans struck in that year. For new loans in 2021

令和3年1月1日から令和3年12月31日まで
10年
1～10年目
年末残高等×1％
Max（50万円）
（注） 住宅の取得等が特定取得以外の場合は30万円

令和3年1月1日から令和4年12月31日まで
13年 ［住宅の取得等が特別特例取得又は特例特別特例取得に該当する場合］
【1～10年目】
年末残高等×1％
Max（50万円）
【11～13年目】
次のいずれか少ない額が控除限度額
①年末残高等〔上限5,000万円〕×１％
②（住宅取得等対価の額－消費税額）〔上限5,000万円〕×２％÷３
（注）　この場合の「住宅取得等対価の額」は、補助金および住宅取得等資金の贈与の額を控除しないで計算した金額をいいます。

[TelecInvestor]

Thank you @Tkydon!

[Wales4rugbyWC23]

One more point about the mortgage tax credit is that if you don't use it all in one year with your national income taxes, the remaining credit will be automatically applied to your municipal tax bill, up to a maximum of 5% of your taxable income.

Source: starkimpossibility from Japan Finance on Reddit; who knows more the rest of us put together about Japanese taxes and who has put me right on Japanese taxes more than once, in face many times....