Bubblegun wrote: ↑Thu Jul 18, 2024 1:22 amOK. Thanks for that. Any clue on how how the japanese tax office assumes property devaluation, when the property increases, or is it just a querk of apply japanese devaluation system to the purchase price of the home in the other country.Wales4rugbyWC23 wrote: ↑Wed Jul 17, 2024 9:47 pmVery much positive the last couple of years it has been losses we've carried over to our tax return, so it has reduced our Japanese taxable income. We run a business, and I have used an accountant from day one, with our bookkeeping and tax returns. When I bought the flats, I asked her to put them through the Japanese tax return. She did not charge us anything more. I don't actually know how much a Japanese accountant would charge for helping with your tax return with foreign rental income.
I really am clueless on that, there might be more knowledgeable people on this forum, who may be able to answer that question. I do know that the depreciation rules changed a few years ago for foreign owned property. The most informed person for would be that guy who run the Japan Finance on Reddit.
I know I might sound like a broken record player, but with the reporting of foreign rents it really is best to get a Japanese accountant to help you out.