RetireJapan

My wife is helping her mom with a land sale, and is trying to figure out what is best to do with the money. She’s talked to few people, and something that has come up is a tax on having more than 1500万円 in the bank. This doesn’t seem right to me at all. But she’s heard it from two different people. She’s pretty unsure too, so I’m guessing it’s a miscommunication about something. Anyone know where this 1500万円 number is coming from?

Haven't heard that one before. Bank deposits are insured up to 10m yen per bank, but not aware of any tax and not sure what 15m is referring to.

Anyone else?

Not sure - but for a short while before I paid off my mortgage I had over that sitting in a bank account and nobody said anything. But it was only over 1500万円 for a few weeks while we were sorting out paying the large sum, so maybe nobody noticed!

I don’t think there are such wealth taxes; inflation would be the one “tax” to worry about, but it is not as if that only kicks in from 15 million.

Thanks for the replies everyone. Yeah, I’m not sure where this is coming from I’ll pass it along to my wife.

JimNasium wrote: ↑Fri Feb 24, 2023 5:18 am Thanks for the replies everyone. Yeah, I’m not sure where this is coming from I’ll pass it along to my wife.

Over 15 million and possible tax issues?

I think they may have been confused with this policy? -> https://souzoku.asahi.com/article/12988066