Hoping for guidance

[banders]

I hope the new NISA guide will be out before it starts. Nearly November and still not sure how it will work!

[RetireJapan]

It's on the to do schedule

[Tsumitate Wrestler]

I hope the new NISA guide will be out before it starts. Nearly November and still not sure how it will work!

How is your Japanese? Or Google translate skills? There are some excellent primers here.

https://www.retirejapan.com/forum/viewtopic.php?t=3262

[banders]

I intend to just sell and rebuy my Apple shares in the growth part (2.4m) since I didn't start buying eMaxis All Country until 2022; and invest in All Country in the tsumitate part. What I would like to know is how the system will allow us to buy and sell in the quickest possible time. If the old NISA effectively finishes before the NY holidays and we can't buy in the new until after the NY hols, that's a lot of days between. Someone somewhere mentioned they thought we'd be able to start buying the new NISA at the end of December, but I think that was an assumption?

[RetireJapan]

If the old NISA effectively finishes before the NY holidays

The old NISA does not 'finish'. It continues to be tax free for the full duration.

You just can't buy anything in legacy NISA after this year. Any new purchases go into new NISA.

[Tsumitate Wrestler]

I intend to just sell and rebuy my Apple shares in the growth part (2.4m) since I didn't start buying eMaxis All Country until 2022; and invest in All Country in the tsumitate part. What I would like to know is how the system will allow us to buy and sell in the quickest possible time. If the old NISA effectively finishes before the NY holidays and we can't buy in the new until after the NY hols, that's a lot of days between. Someone somewhere mentioned they thought we'd be able to start buying the new NISA at the end of December, but I think that was an assumption?

Brokerages have these dates published. They vary.

Rakuten opens its setting page in mid-November for the New Nisa. This is mainly because credit card tsumitate payments take weeks to clear.

Buys for Various funds in the old Nisa have December Deadlines (Domestic, Foreign, Trusts etc etc all different)

Buys for the New Nisa start in the last week of December, to be executed in January 2024.

[banders]

OK, thanks. One thing I don't seem to be able to find a clear answer: now I have the non-tsumitate NISA with SBI. In the new NISA, do we need to set up a standing order for the tsumitate part or can we just pay cash in up to ¥100k per month?

If the old NISA effectively finishes before the NY holidays

The old NISA does not 'finish'. It continues to be tax free for the full duration.

My 2019 portion finishes end of the year.

[RetireJapan]

OK, thanks. One thing I don't seem to be able to find a clear answer: now I have the non-tsumitate NISA with SBI. In the new NISA, do we need to set up a standing order for the tsumitate part or can we just pay cash in up to ¥100k per month?

You will need to set up a regular order. This can be done from November this year for at least some brokers.

If the old NISA effectively finishes before the NY holidays

The old NISA does not 'finish'. It continues to be tax free for the full duration.

My 2019 portion finishes end of the year.

That will be treated like NISA investments have been treated in the past: the investments will be moved to a taxable account and the purchase price will be reset to whatever the price was at the end of 2023. There is no need to worry about selling them before you are ready to buy in the new NISA account.

[sutebayashi]

Someone somewhere mentioned they thought we'd be able to start buying the new NISA at the end of December, but I think that was an assumption?

That may have been me.

My understanding is that nisa has and will continue to work based on the settlement date of the trades you make, not the trade date.

So a trade whose settlement date is on the 1st business day of the year will have a trade date at the end of the previous year.

Here is an example explanation from Monex:
https://faq.monex.co.jp/faq/show/12120? ... in=default

Jan 2nd 2024 is a Tuesday and the first trading day in many places, so one should be able to place trades the prior week in December, which settle in January - these will be counted towards the 2024 nisa. The US stock markets settle on “T+2” (trade date plus two biz dates), so if the asset in question is a US based one (eg Apple), then the trade date on Dec 28, 29 should see the settlement date fall into 2024.

Conversely, any final 2023 nisa purchases would need to have a trade date on or before Dec 27.
But this is all specific to the assets being traded, depending on which markets they are in, so details will vary. (For Toshin, the order date is usually a day before the trade date too.)

[banders]

OK, thanks for the replies. Next question re the tsumitate part: when I set up a standing order each month, will the money just go into my a/c and wait for me to buy, or will I have to choose funds to apportion the money between in advance, like iDeCo? If the latter, is there 'switching' to change allocation like iDeCo?