Question #191
Inheritance system for foreigner
I am a New Zealander. I have lived in Japan for 30 plus years, married to a Japanese, although I still have a NZ passport. My mother who is, and always has lived in NZ, Is 95. My father is dead. I have two sisters who live in NZ. The assets all now in my mother’s name will be divided more-or-less equally between my sisters and me. They come to a total of about 1 million NZ dollars. My questions. Do I pay inheritance on my share only? Does the basic exemption get deducted from the whole estate or just my share. There is no inheritance tax in NZ. Does this make any difference? One information sheet I read said I pay no tax on my share, because my mother has only ever visited Japan briefly, never lived here. And The assets are and always have been in NZ and my portion will be money only.
Category: Inheritance
2021-05-17 09:18
Answer #1
2021-05-20 10:22
Thank you for your question. Suppose your mother has not lived in Japan in the last ten years and does not plan to move there in the future. In that case, only the inheritance you receive is subject to Japanese inheritance tax. If your mother passed away with three heirs, including you, the inheritance tax exemption would be 48 mill...
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Ryosuke Kimura
Attorney-at-law & Tax Accountant