I’ve read quite a lot on this but just want to double check in case anyone is an expert on this. I’m a tax resident here as I’ve been here over ten years. I understand the exemption is 30m + 6m per heir, in this case it’s two heirs which I believe should put me at a 42m exemption, with the total amount to be received to be under that at around 35m.
Inheritance is comprised of stocks, cash and a house sale that was handled by the estate. Neither the stocks or house ever came under my possession and were sold by the estate with proceeds to come to me.
While I believe I don’t owe anything inheritance-wise due to the exemption I’m slightly confused on CGT – my assumption (and subsequent research) suggests no CGT.
Also, in this case is it wise to inform the tax office that I have received this inheritance as I feel transfer of a large sum like this would trigger something, even though it doesn’t seem necessary to file any sort of documentation if you are under the limit.
Many thanks in advance
by Low_Resist8524
1 comment
First, it’s 6M¥ per **statutory** heir. Are the two heirs you mention considered statutory heirs by Japan standards? This website gives examples of who is a statutory heir in a bunch of family situations: [https://souzoku-pro.info/columns/isanbunkatsu/10/](https://souzoku-pro.info/columns/isanbunkatsu/10/)
Unfortunately, you should be on the hook for CGT even if everything was sold by the estate and you only ended up receiving cash. The NTA considers that the assets transfer happened at the time of death, so any sale subsequent to that is on you.