RetireJapan

Hi,

We recently bought a house and we will be looking to do the application for the refund of 1% of the outstanding mortgage value. We received the outstanding balance statement from our bank already.

In addition to this refund, we also annually submit receipts for life insurance etc..

My company has just announced they accept applications for the year-end tax adjustment/refund. Though, from my company's HR they told me for the housing loan refund I need to apply to the tax office by myself for the first year, they can only accept the forms from the 2nd year on (which I will get from the tax office).

I will contact the tax office to get more information for sure, but I am also looking to hear your experiences if anyone has done that recently or knows more:

• How does the process look like for the housing loan refund?

• Do I need any other document, besides the mortgage balance statement? We did register our house when we moved in as a newly-built house.

• Can I do this application at the end of the year, basically now, or do I need to wait until February/March?

• Is there any issue if I do the year-end tax adjustment in my company now, for the insurances, dependents, etc..., and then also submit the tax forms to the tax office (only for the housing loan), or will the former make submission of the latter impossible?

Many thanks in advance

For everyone, the Housing Loan Tax Credit application has to be done in Kakutei Shinkoku for the first year, and then can be processed by your company as Nenmatsu Chosei from the second year onwards.

You should complete your Nenmatsu Chosei, submitting all the Insurance Statements to your company.

For the Kakutei Shinkoku in Feb/Mar, you will need your Gensen Choushuhyo from your employer (they should issue this in January, with the Insurance details included) and the documentation for your Housing Loan Tax Credit.

The Assistant at the Tax Office will assist in filing the Housing Loan Tax Credit application in the Kakutei Shinkoku, along with any other non-employment income you may need to report, or additional deductions and allowances you may need to claim.

In subsequent years, you just need to provide the voucher to your employer for the Nenmatsu Chosei, and they will give you the refund in December payroll.

Can anyone tell me the name of this tax credit, and the voucher I need to fill out, in Japanese? Thanks!

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 Hanko (thx Captainspoke)

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。

Thank you so much for this, it’s very helpful.

Cynthia wrote: ↑Thu Jan 06, 2022 4:34 am Thank you so much for this, it’s very helpful.

Another thing to take-- your hanko.