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Privilege Of Reducing Gift Tax : Gift From Parent
by Hiroshi Kawarazaki, Esq.

In Japan a person who received gift over 600,000 yen must pay gift tax.
Gift from father, mother, grand father or grand mother is spent for the obtaining of house of living is will not be imposed gift tax under the certain conditions. Or one has privilege of reducing gift tax.

amount of gifts gift tax under privilegegift tax without privilege
Conditons regarding monetary gifts for acqiuiring residential house from one's parent
1,000,000 yen 0 yen40,000 yen
2,000,000 yen 0 yen140,000 yen
3,000,000 yen 0 yen305,000 yen
4,000,000 yen 100,000 yen550,000 yen
5,000,000 yen200,000 yen845,000 yen
6,000,000 yen300,000 yen1,190,000 yen
7,000,000 yen 400,000 yen 1,560,000 yen
8,000,000 yen 500,000 yen 1,960,000 yen
9,000,000 yen600,000 yen 2,380,000 yen
10,000,000 yen700,000 yen2,830,000 yen
Conditions concerning person who receive gifts.Annual income must be under 12,000,000 yen when one receive gifts
One must reside in the house which one purchased untill March 15 following the year when he received gifts for purchasing residential house.
One did not resided in the house ( over one scond of floor area was used for residence ) that one or one's spouse owned within the 5 years before the day on which one received the gifts.
One has not used this privilege before.
Conditions concerning gifts giverFather, mother, grandfather or grandmother of one who receive gifts.
Conditions concerning house which one buy for gifts Floor area ( registered area, as to condominium registered space except public space ) is over 50 square meters and under 240 square meters.
House was built within 15 years ( 20 years if the house is fireproofing )
If a part of residential house is office or shop, residential part is over half area.
Dec. 7, 1998