Keep an eye on your family members' incomes!

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TJKansai
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Posts: 538
Joined: Tue Mar 30, 2021 1:38 am

Keep an eye on your family members' incomes!

Post by TJKansai »

I got a letter from the tax office saying I needed to cough up another ¥200,000 for my 2023 taxes.

This was due to my 'dependent' son making over the 1,030,000 limit in 2022 (something I had no idea he did).

With all income attached to My Number, there is no skating around it.
Tkydon
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Posts: 1313
Joined: Mon Nov 23, 2020 2:48 am

Re: Keep an eye on your family members' incomes!

Post by Tkydon »

Give him the bill...

If he is aged between 19 and 23, you are entitled to claim the higher Dependent Tax Deduction of Y630,000 instead of Y380,000 from 16 to 19 or over 23.

If he earned so much, he should do his own Tax Return and claim his own Individual Tax Deduction of Y480,000, and pay his own National, Recontruction and Residents' Taxes, but then you would lose the Dependent Tax Deduction.
:
:
This Guide to Japanese Taxes, English and Japanese Tai-Yaku 対訳, is now a little dated:

https://zaik.jp/books/472-4

The Publisher is not planning to publish an update for '23 Tax Season.
TJKansai
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Posts: 538
Joined: Tue Mar 30, 2021 1:38 am

Re: Keep an eye on your family members' incomes!

Post by TJKansai »

Tkydon wrote: Thu May 16, 2024 11:25 am Give him the bill...

If he is aged between 19 and 23, you are entitled to claim the higher Dependent Tax Deduction of Y630,000 instead of Y380,000 from 16 to 19 or over 23.

If he earned so much, he should do his own Tax Return and claim his own Individual Tax Deduction of Y480,000, and pay his own National, Recontruction and Residents' Taxes, but then you would lose the Dependent Tax Deduction.
He went to the tax office last week. I need to find out what they instructed him to do.
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