Good ways to transfer funds from overseas

[Primarch]

Sounds like a bit of a pain to be honest. I guess you could transfer some of it (below the taxable threshold) and then pick some of it up after a trip home. Do you need to transfer it all in one go? Or your parents could fly over here with some of it in cash/travelers cheques? 1,100,000 yen translates into quite a few flights and holidays and it is a darn sight better than giving it to the taxman.

[Spevna]

Apparently they can also tax you on the interest you earn on overseas savings.

[YellowStreak]

I have never ever had cause to utter these words, either in print or out my gob, but I'm coming close to letting loose the dreaded.....

"I need an accountant"

*ulp*

Getting a good one is worth it - they usually know all the ins and outs!

[Spevna]

I have never ever had cause to utter these words, either in print or out my gob, but I'm coming close to letting loose the dreaded.....

"I need an accountant"

*ulp*

Getting a good one is worth it - they usually know all the ins and outs!

Ditto.

I would recommend mine but he lives in Kuwana. Im sure you can find someone closer to home who is good. If not, give me a shout and I will pass on his details.

[me_in_japan]

Well fancy that...

It turns out there is an accountant's office about one block down the road from us. Whoda thunk? My wife went down there for one o those "free initial consultation" thingies, and she also called the city tax office. It turns out that there is a special tax exemption for money bequeathed unto you from your direct parents for the specific purpose only of building a new house. This is handy, as that is the exact reason my dad is giving me the money. Any amount up to 12mil yen is non-taxable, and as windy as this fall is, it's nowhere near that kind of limit.

One thing that was confirmed by Those Who Know is that any incoming cash I have from any source in any country is taxable under Japanese law. This is good to know, albeit not especially welcome news. Meh, it's not like I have any income or stuff overseas, but it'd be a pain in the arse if I did.

So, it would appear that I may be in the clear. My dad gives me the money in the uk - he doesn't get taxed (assuming he lives another 7+years). I don't get taxed in Japan because I immediately send the money to myself and spend it on the new house (and it needs to be paid to the building company - I can't spend it on sofas or suchlike.)

Just thought I would share my adventures in international tax legislation with y'all All I need to do now is investigate the best method of actually transferring the cash, and with it now absolutely needing to be done and dusted before I have to pay the house company, I now have a time limit to my research. Ganbarou!!!

[job]

Good to hear that there was a way for you to move your money and that Japan has created a very middle-class friendly policy aimed to give modest people a fair chance at investing in good things. Hope everything else works out well.

[Admiral-Badruck]

Put some cash in an envelop and send it snail mail. The orkish way.

[me_in_japan]

Orks get their money stolen a lot, don't they...

[Admiral-Badruck]

So fars so Gud

[Tenorikuma]

No one touches Ork money. You don't know where it's been…