The best one is the home loan tax refund, which is a 1% rebate of your outstanding loan balance (not a deduction from income, a deduction from tax owed). It renders your home loan almost interest-free or better (depending on your interest rate).
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This is great tax perk, I am in my 8th year of this and it has really reduced my national income tax bill. I am worried about my income tax bill after 10 years.... What are options available to get this again? You have to pay all your mortgage off and buy a new place. Any information about this would be appreciated.
Personal Finance Hacks in Japan
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Wales4rugbyWC23
- Veteran
- Posts: 418
- Joined: Mon Sep 16, 2019 1:30 am
- Location: Fukuoka
Re: Personal Finance Hacks in Japan
1. Use an appropriate credit card for expenses as much as possible. This can easily provide 2.5%+ money back on your expenses. I use the Amex SPG card which gives 1.25% in miles. Each mile for me is around 2yen during peak periods and much higher during off peak periods or for higher classes of travel. Every two years, we get to make a trip home which is almost completely paid by the miles.
2. Furusato Nozei- Maximize your limit available for tax deductions. It’ss great way to support any local communities you fancy and also get gifts of not insignificant value. Few home appliances that we have are from Furusato.
3. iDeco - Maximize your iDeco if not already doing so. It’sa great way to save taxes and forcibly save and invest.
4. Check prepaid cards - Some ships have prepaid cards which offer discount over regular prices. e.g. Tully’s coffee gives a 10yen discount when paid via their prepaid card. It works out to 2.5% discount. Also, the prepaid card can be charged via credit card in this case. Combining with the credit card points it works out to 5% discount. Depending upon spending patterns other such opportunities might exist which can add up to decent amount over a year.
2. Furusato Nozei- Maximize your limit available for tax deductions. It’ss great way to support any local communities you fancy and also get gifts of not insignificant value. Few home appliances that we have are from Furusato.
3. iDeco - Maximize your iDeco if not already doing so. It’sa great way to save taxes and forcibly save and invest.
4. Check prepaid cards - Some ships have prepaid cards which offer discount over regular prices. e.g. Tully’s coffee gives a 10yen discount when paid via their prepaid card. It works out to 2.5% discount. Also, the prepaid card can be charged via credit card in this case. Combining with the credit card points it works out to 5% discount. Depending upon spending patterns other such opportunities might exist which can add up to decent amount over a year.
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eyeswideshut
- Veteran
- Posts: 237
- Joined: Tue Aug 29, 2017 1:49 am
Re: Personal Finance Hacks in Japan
Not sure if it was mentioned earlier but gaming Rakuten points by making major purchases and/or furusato-nozei donations during Rakuten campaigns (there is one on right now) can reap you upwards of 15% or more in points. Rakuten points can be used across Rakuten ecosystems and are effectively the same as cash so it is like a 15% cash-back.
Booking Shinkansen trips through Ekinet in advance can get you discounts.
If you can tolerate them, overnight highway buses are much much cheaper than the train.
Ozmall is a great place to book last minute hotels and onsen resorts in Japan.
Booking Shinkansen trips through Ekinet in advance can get you discounts.
If you can tolerate them, overnight highway buses are much much cheaper than the train.
Ozmall is a great place to book last minute hotels and onsen resorts in Japan.