Housing tax break increase and the upcoming income tax bump

[jcc]

So, this link from the blog caught my interest: https://www.japantimes.co.jp/news/2018/ ... oan-users/

I'm wondering if this goes through would it be applied retroactively? Like if one was to buy a home before it at the lower tax rate, would they still be put into this new loan system? Can we be grand-fathered into the old 10 years with 40m cap?

Also the lowering of the cap adds another interesting bump to the calculations. I wonder how much they'd be reducing it...

[kizuki]

I'm wondering if this goes through would it be applied retroactively? Like if one was to buy a home before it at the lower tax rate, would they still be put into this new loan system? Can we be grand-fathered into the old 10 years with 40m cap?

Unlikely. Last time around too it did not happen for people who had bought under earlier tax regime.

[ricardo]

What “income tax bump” are you referring to? I’m not aware of any plans to increase income tax.

[jcc]

What “income tax bump” are you referring to? I’m not aware of any plans to increase income tax.

Oops, I meant the consumption tax bump, not the income tax