RetireJapan

My first tsumitate purchase by rakuten card in my new NISA was declined due to having exceeded my NISA tax free limit.

Basically I got an error message and when I checked what the nature of the error was it reads: エラ内容: NISAの非課税枠超過

But I don’t think I’ve exceeded my limit.

So far in my new NISA I have:
1. Made a spot purchase of 2.4m yen (emaxis all country mutual fund- went through ok)
2. Set up tsumitate purchases of 50,000 yen from credit card and 50,000 from rakuten securities balance (both emaxis slim all country mutual fund).

The credit card tsumitate purchase is the one which was declined, the tsumitate from rakuten securities balance is set for later in the month.

I thought the yearly limit was 3.6 million across growth and tsumitate portions and this could all be in mutual funds if desired.

Anyone know what I have done wrong?!
Cheers!

Check your tsumitate setup to make sure both payments are going into the tsumitate part not the growth part?

It may be worth deleting the tsumitate payments from the settings and trying to set it up again.

beanhead wrote: ↑Sat Jan 06, 2024 8:16 am Check your tsumitate setup to make sure both payments are going into the tsumitate part not the growth part?

This was it exactly! Thank you.

It may be worth deleting the tsumitate payments from the settings and trying to set it up again.

Have done! Sadly it seems as I have now missed the January credit card tsumitate payment I won't be able to use that 50,000 yen of the 1.2m allocated for this year's tsumitate part. The total tsumitate limit is 100,000 yen per month (credit card, rakuten cash, direct from bank) is that right?

It is 1.2million per year. Does not have to be equally divided by 12.
You can use the bonus feature to make up that lost 50,000yen.

Thanks for your reply!
I did try to edit the tsumitate settings to include a bonus but it wouldn't go through. The limit was set at 50,000 per month. Maybe I need to delete that tsumitate completely then set it up again?

It seems you have a similar case to what I did have.

I missed a 66,667 yen contribution in January and as I had already setup monthly contributions of 50K and 50K for both Cash and Card, I was unable to add an extra contribution using Bank. It turned up that you can temporarily reduce one of your monthly contributions, let's say Cash 10K updating it to be 40K, and you will be releasing 10K * 12 = 120K yen to set up an extra Tsumitate monthly contribution using Rakuten Bank (you can set it up to be 100 yen + a bonus of whatever the quantity that you want to contribute.

You can have a look in details here: https://www.retirejapan.com/forum/viewt ... 275#p35275

Hope it helps!

Thanks for your reply! Good to hear others' experiences.
I think I might just leave it for now and perhaps deal with it later.
Cheers!