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Keep an eye on your family members' incomes!
Posted: Thu May 16, 2024 8:10 am
by TJKansai
I got a letter from the tax office saying I needed to cough up another ¥200,000 for my 2023 taxes.
This was due to my 'dependent' son making over the 1,030,000 limit in 2022 (something I had no idea he did).
With all income attached to My Number, there is no skating around it.
Re: Keep an eye on your family members' incomes!
Posted: Thu May 16, 2024 11:25 am
by Tkydon
Give him the bill...
If he is aged between 19 and 23, you are entitled to claim the higher Dependent Tax Deduction of Y630,000 instead of Y380,000 from 16 to 19 or over 23.
If he earned so much, he should do his own Tax Return and claim his own Individual Tax Deduction of Y480,000, and pay his own National, Recontruction and Residents' Taxes, but then you would lose the Dependent Tax Deduction.
Re: Keep an eye on your family members' incomes!
Posted: Mon May 20, 2024 12:03 am
by TJKansai
Tkydon wrote: ↑Thu May 16, 2024 11:25 am
Give him the bill...
If he is aged between 19 and 23, you are entitled to claim the higher Dependent Tax Deduction of Y630,000 instead of Y380,000 from 16 to 19 or over 23.
If he earned so much, he should do his own Tax Return and claim his own Individual Tax Deduction of Y480,000, and pay his own National, Recontruction and Residents' Taxes, but then you would lose the Dependent Tax Deduction.
He went to the tax office last week. I need to find out what they instructed him to do.
Re: Keep an eye on your family members' incomes!
Posted: Sun Oct 27, 2024 5:05 am
by KCLenny
Is the limit 1,030,000?
I thought it was 1,300,000
Re: Keep an eye on your family members' incomes!
Posted: Sun Oct 27, 2024 9:38 am
by captainspoke
Years ago, but due to an easy uni schedule their final year, one of ours seemed to be working a fair amount. I asked about it with this in mind and after some discussion I learned they were being paid cash, an off-the-record kind of thing. Okay...
As they say, let sleeping dogs lie.