RetireJapan

One of the downsides of furusato nozei is not having good upfront clarity about the amount of donations you can do without exceeding the limit.

There are various calculators online that help give an idea, but it is still blurry.

The Rakuten “detailed” one is quite good
https://furusato-nouzei.event.rakuten.c ... n-details/
But unfortunately it doesn’t have a category for futures trading (fx and other similar instruments), of which I am likely to finish the year with a decent amount of income.
It does have an input field for stocks though, which is helpful.

On the other hand, this one from furusato bible does cover FX, but the limit number I get out of it differ to the Rakuten one by a fair amount.
https://furusato-bible.jp/sim/kyuyo_shotokusha/

Then there are other things like mortgage loan tax dedication, number of dependents, other donations paid besides furusato nozei ones, which I gather might all affect the results.

Does anyone have a recommendation or favourite calculator, one which is quite detailed?

This one is the only accurate one because it's basically a mock tax return. Good luck figuring it out though

https://kaikei7.com/furusato_nouzei_keisan/

At the limit, the amount that you can actually use in Furusato Nozei is exactly related to your total Tax, which is exactly related to your total Taxable Income after all allowances and deductions, and the Marginal Tax Rate for the Aggregate Tax portion of your income tax.

Therefore, if there are are deductions that are not evident until the end of the year, such as large Medical Expense Deduction for medical expenses over Y100,000 in the tax year, or other such allowances and deductions, or discretionary income at the end of the tax year, then you should be conservative in your use of Furusato Nozei if you do not want to exceed your allowance.

adamu wrote: ↑Sun Nov 26, 2023 8:41 am This one is the only accurate one because it's basically a mock tax return. Good luck figuring it out though

https://kaikei7.com/furusato_nouzei_keisan/

Well, I am impressed with this. This is quite a piece of work!
Indeed, not easy to figure it out, but it looks like it provides what I was looking for.
Thanks!

Tkydon wrote: ↑Sun Nov 26, 2023 10:41 am At the limit, the amount that you can actually use in Furusato Nozei is exactly related to your total Tax, which is exactly related to your total Taxable Income after all allowances and deductions, and the Marginal Tax Rate for the Aggregate Tax portion of your income tax.

Therefore, if there are are deductions that are not evident until the end of the year, such as large Medical Expense Deduction for medical expenses over Y100,000 in the tax year, or other such allowances and deductions, or discretionary income at the end of the tax year, then you should be conservative in your use of Furusato Nozei if you do not want to exceed your allowance.

Thank you. Yes, I have been somewhat conservative to date, but as I come into the end of the year, will await my nenmatsu chousei results, put my futures trading into cotton wool, but I believe I should still be able to buy... err... donate for... a few more cases of beer...