RetireJapan

the money would never hit the person's bank account...it would be the car dealer who gets the money. I would think the NTA would question the car dealer. As in, "Hey...we just saw 5mil yen hit your account. What's that about?" I don't understand why you want to wire the money to the deale...

" And even if one was a Japan tax resident, if you had savings which happened to be sitting in a foreign bank account earned prior to becoming a Japan tax resident, they could still do such a transaction without any significant problems." And that was the origin of my question. The person...

Hello SLW, Thank you for that info. My confusion initially with the different stories, experiences, and vocabulary stemmed from different people’s different context. Now I see that your situation of course lends itself to the ease with which you were able to do the purchase. Earlier, I used we and I...

I googled our city and found the handbook for our local ward.

Thanks again, question answered.

I see, sorry for that. The one person will buy it, we will drive it.

When I used we, I meant about actually driving the car. When talking about financing the car, it is the one person coming with the one person's money.

Again, apologies. Just trying to be clear.

Thanks again,

They will ask, and you can reply. They would assume $38,000 (or more if you remit more) is completely tax free. Depending on when in 2024 you remit the funds, they will assume part or all of the $10,000 of the total is from 2024 Pension Income, and taxable as Pension Income, but after deducting all...

Oh, sorry. I have been here 7, but the family in question just arrived....so less than 5 for them. In other words, the car purchase/money transferring would be all in their name. Sorry for intermixing we/I/they/us...it's all about the family member who has come. That recent example was me concerned ...

7 years of transfers from like $30 to $3000. If you've been here for 7 years you should be declaring your US income and paying any Japanese taxes due. As long as you have done this the rest of this thread is irrelevant. Oh, yes. Actually I receive no income from America as my employment is here in ...

Thank you, Tkydon,

We are going to ward office today (we're not in Tokyo...further south) and will sign them up together. They also said that we can change things later on, so that's comforting. Just didn't want to get into a sticky situation at the onset.

Thanks much,

Beaglehound wrote: ↑Tue Feb 06, 2024 6:48 am Another thing, not sure if it's been mentioned in thread so far but double taxation agreement between Japan and USA should minimise your tax exposure here if you go down this route

True, I've heard about this too. Seems to be a lot of paperwork, but works out in the end.