With the new NISA having higher allowances, I need to think about this.
Is the limit 1,100,000 or 1,099,999?
I did some searching and see the English page says both 1.1 and less than 1.1.
Of course it probably doesn't matter, given the tax on the extra one yen would be 1/10 of one yen, but not going over means one less thing to worry about.
From the NTA:https://www.nta.go.jp/english/taxes/others/02/15002.htm
1 Calendar year taxation system
The gift tax will be imposed after a basic exemption of 1.1 million yen is subtracted from the total value of properties donated to a person in one year from January 1 to December 31. Therefore, the gift tax will not be imposed if the total value of properties donated in one year is less than 1.1 million yen. (In this case, you are not required to file a return for gift tax.)
Gift tax? New NISA
Re: Gift tax? New NISA
If you're worried about it, transfer the ¥1.1m and get them to give you a ¥1 coin back. 