RetireJapan

Last year 2024 I partially encashed a policy with an Isle of Man insurance company. Where should I write this on my tax declaration?

Generalli by any chance?

loua_oz wrote: ↑Fri Jan 17, 2025 9:33 am No way you can do Tax Return unless you have a Japanese wife/partner or someone, who can navigate throught their web site.
I go to my City Council Tax Authority, they have tools that even Japanese can not navigate through. Takes 15 minutes with them.
My computer keyboard does not even have Japanese script.

This is not true and not helpful either. Please be more careful with your posts. Check the Forum rules here: viewtopic.php?t=1175

Go to the recent thread, titled:

Is there a Japanese version of H&R Block?

(HR seems to be some American thing, I dunno. But the answers here tell you how to just get an appointment at your local tax office. They will tell you where and what to write.
If you are doing eTax yourself, bring your laptop and (preferrably) tether it to your phone to be online with the eTax app running, when you ask the questions.
Go back to them as often as you like if you have futher questions.

From my understanding of American lobbying culture, it is the HR Blocks and Intuits of the world that are responsible for the tax-system being so complicated.

They were a solution that is invested in keeping the problem going.

Tsumitate Wrestler wrote: ↑Fri Jan 17, 2025 2:00 pm From my understanding of American lobbying culture, it is the HR Blocks and Intuits of the world that are responsible for the tax-system being so complicated.

They were a solution that is invested in keeping the problem going.

Yep!

RetireJapan wrote: ↑Fri Jan 17, 2025 9:52 am
This is not true and not helpful either. Please be more careful with your posts. Check the Forum rules here: viewtopic.php?t=1175

-using AI to write your posts

That must be a recent addition?
And I guess fairly loosely policed, so far.

beanhead wrote: ↑Sat Jan 18, 2025 12:06 am

RetireJapan wrote: ↑Fri Jan 17, 2025 9:52 am
This is not true and not helpful either. Please be more careful with your posts. Check the Forum rules here: viewtopic.php?t=1175

-using AI to write your posts

That must be a recent addition?
And I guess fairly loosely policed, so far.

Yeah, I just hate those long pointless 'I asked ChatGPT and it created this wall of text that I am not sure is correct and take no responsibility for' posts

For a Lump Sum Liquidation, I think you should be able to use the Retirement Lump Sum Taxation Method:

Lump Sum
minus
Special Deduction = Y400,000 per year up to 20 years of contributions, Y700,000 per year for years of Contributions over 20 years...
Divide Remainder by 2
Apply Marginal Tax Rates to the Remainder

(assuming you haven't used the Retirement Lump Sum Taxation Method previously in the last 5 years ???)

You might need to confirm with your local tax Office.