New NISA from 2024

[RetireJapan]

The current NISA system will run until the end of 2023 (regular NISA, tsumitate NISA).

From 2024 the new (eternal) NISA system will start.

The two systems are completely unconnected. Any legacy NISA holdings will continue to be tax free until they reach the end of their 5- or 20-year tax free period and will not affect the new NISA at all (nor will it be possible to rollover into the new system).

Be careful, as most of the forum content is talking about the current NISA system, not the new one.

[zeroshiki]

Posting links that will, hopefully, be up to date for anyone stumbling onto this topic in the future:

https://www.retirejapan.com/nisa/ (not yet updated as of this writing but I'm sure RJ will get around to it )
https://retirewiki.jp/wiki/NISA

[beanhead]

Just noticed that with Rakuten, if you have their card, you can do tsumitate for 100,000 per month to take care of the 1.2M of the tsumitate portion.
50,000 per month in Rakuten cash and 50,000 with credit card.

https://www.rakuten-sec.co.jp/web/info/ ... 16-01.html

[RetireJapan]

Just noticed that with Rakuten, if you have their card, you can do tsumitate for 100,000 per month to take care of the 1.2M of the tsumitate portion.
50,000 per month in Rakuten cash and 50,000 with credit card.

https://www.rakuten-sec.co.jp/web/info/ ... 16-01.html

Ooh, very nice. Will have to set that up next year. So I guess I will try to figure out how the cash thing works this year.

Damn you, Rakuten

[RetireJapan]

Posting links that will, hopefully, be up to date for anyone stumbling onto this topic in the future:

https://www.retirejapan.com/nisa/ (not yet updated as of this writing but I'm sure RJ will get around to it )
https://retirewiki.jp/wiki/NISA

Ouch, ouch

Thanks for the reminder!

[adamu]

Rakuten cash

Will have to set that up

Hah, they tricked me into getting a Rakuten credit card.

Not getting tricked again

Not worth the ongoing hassle, IMO.

[RetireJapan]

Not worth the ongoing hassle, IMO.

Yeah, they will probably just bait and switch me again

[beanhead]

Not worth the ongoing hassle, IMO.

Fair enough. I am more interested in the ability to automatically invest the 100k per month than the points, to be honest.
After they reduced the points for low-cost funds, I stopped caring.
Now, when I get some points I am able to use on Securities, I just drip-buy little bits of one of the eMaxis Slim funds.

[Geoffinjapan72]

OK probably really dumb question: If I put 1.3 million yen untaxed earned wages from a side business into a NISA Account, does this exempt it being taxed like investment profits for the same duration of whatever the tax free time period it-5-10 years?
Thanks.

Also, is there any English guidance on how to open a NISA Account and an SBI investment account?
Thanks.

[RetireJapan]

OK probably really dumb question: If I put 1.3 million yen untaxed earned wages from a side business into a NISA Account, does this exempt it being taxed like investment profits for the same duration of whatever the tax free time period it-5-10 years?
Thanks.

Also, is there any English guidance on how to open a NISA Account and an SBI investment account?
Thanks.

You can only invest in NISA with post-tax income so it has no effect on your income taxes. NISA shields your investments from capital gains and dividend taxes.

The current limit for regular NISA is 1.2m yen a year.

Opening an account is not particularly difficult, but you will need to do it in Japanese.