RetireJapan

https://www.sbisec.co.jp/ETGate/?OutSid ... 41115.html

TLDR: SBI are cancelling all Tsumitate setup to use all your allowance in January. Make sure to set it up again in January.

So it seems like SBI is going to make it a little bit harder to use bonus to max out your yearly tsumitate NISA allowance.

They have announced that the formula for determining the maximum bonus you can set for Tsumitate NISA is as follows (assuming monthly tsumitate):

1.2M - (Monthly amount x 12)

Now, the normal thing a lot of people here do is 100 yen so in this case if you set 100 in January, the bonus limit is:

1.2M - (100 x 12) = 1,198,800

which is normal (even Rakuten would do this).

What has changed is if you don't do it in January. Assuming you start in April with 100 a month, the calculation for the maximum bonus stays the same so your tsumitate NISA for the year can only ever hit 1,199,700 (900 + 1,198,800).

In the grand scheme it's not that big of a change but it's clear brokers are taking steps to discourage the gaming of the bonus system. In fact SBI explicitly say this:

本サービスでは、定期的な積立の設定金額にかかわらず、つみたて投資枠の年間投資上限である120万円までの追加買付設定を受付けております。 このたび、長期・積立・分散投資による資産形成を後押しする制度の趣旨に鑑み、2025年1月（予定）に以下のとおり「ボーナス月の積立設定」の上限金額を引き下げる仕様変更を実施いたします。

In consideration of the purpose of the system to support asset formation through long-term, distributed, and diversified investment, we will implement a specification change in January 2025 (scheduled) to lower the upper limit of the "bonus month savings setting" as follows.

Weird, so if you started in July at 100k/mo, you'd get no bonus I guess? You'd have to set it to 200k/mo to max it out instead (if that's possible).

adamu wrote: ↑Mon Nov 18, 2024 5:31 am Weird, so if you started in July at 100k/mo, you'd get no bonus I guess? You'd have to set it to 200k/mo to max it out instead (if that's possible).

Max seems to be 100k

https://faq.sbisec.co.jp/answer/635b84c ... 888700134/

＜1回あたりの設定金額上限＞
毎日コース：4,858円（120万円÷247日）
毎週コース：23,076円（120万円÷52週）
毎月コース：100,000円（120万円÷12ヵ月）

The play there would be to set the lowest possible tsumitate (100 yen) and then bonus it away in one go.

I'm confused. This seems to make it more complex and stop people who start part-way through the year from filling their allowance, while still allowing people who start in January to put away the full amount - 11 months minimum payments at the start of the year.

They should have made the tsumitate part a monthly allowance rather than an annual one perhaps.

(Or they should just have a lower capital gains tax rate and be done with NiSA altogether!)

sutebayashi wrote: ↑Mon Nov 18, 2024 11:17 am They should have made the tsumitate part a monthly allowance rather than an annual one perhaps.

(Or they should just have a lower capital gains tax rate and be done with NiSA altogether!)

Well, during the 10 years leading up to the launch of NISA in 2013, Japan had a 10% capital gains tax rate on stocks bought and sold at a Japanese broker. NISA was designed as a replacement for that, but targeting the working person saving up for retirement, instead of the already rich getting richer on the stock market.

Capital gains should be higher to prevent rich people from making money hand over fist. NISA is a good compromise because of its low limit. The day-traders won't bother with it because the limit is purchases and it helps other people invest and save money.

zeroshiki wrote: ↑Tue Nov 19, 2024 12:45 am Capital gains should be higher to prevent rich people from making money hand over fist.

My view is that a simple system that no one has to study or ask questions about in order to understand, would be a net win for the vast majority of people in terms of time saved and made available for other purposes.

It’s a matter of which is more important, and simplicity and efficiency is where my priorities lie. (There is a zero capital gains tax rate where I’m from.) But yes, I’m dreaming to suppose this idea might come here.

Japan has a flat capital gains tax rate. NISA is tax-free with a purchase limit. The only people this confuses are the people who actively don't want to learn.

adamu wrote: ↑Mon Nov 18, 2024 9:04 am I'm confused.

I'm confused and I run a whole wiki about this stuff.