Property Tax Services(inheritances, gifts, and capital gains)
We will prepare the tax filing for your inheritance, gift, or sale/exchange of assets.
Preliminary measures are very effective. Please use our consulting services in addition to the tax services. As we hear your thoughts over and over, we can suggest you better measures which will suit your situation.
Declaration of Inheritance Tax
Generally, income tax quasi-final return shall be performed within four months and payment inheritance tax filing and payment shall be performed within ten months from the following day after an heir gets to know the commencement of inheritance. A day that an heir gets to know the commencement of inheritance is usually the day that an ancestor deceased. Since January 2015, the amount of basic allowance was reduced to 60%, and thus more people are obliged to declare. You better be careful about it.
Before the revision: JPY 50 million + JPY 10 million * the number of legal heirs
After the revision: JPY 30 million + JPY 6 million * the number of legal heirs
Declaration of Gift Tax
Generally, gift tax declaration and payment shall be performed between February 1 and March 15 in the following year after you receive a gift.
Declaration of Capital Gain
Generally, tax filling and payment shall be performed between February 16 and March 15 in the following year after an asset is transferred. However, if it is a case of an income tax return, it can be filed before February 16. Assets such as land, buildings, stocks, and golf club memberships are considered for capital gains. Asset transfers can be exchanges or substitute performance as well as normal buying and selling.