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I’m currently facing a situation that requires some clarification. I constructed a house for 72 million yen and took out a loan amounting to 59 million yen.
I moved into the house in May 2022 and applied for a tax adjustment in January 2023. Subsequently, in March 2023, I received a tax refund of 170,600 yen.
My annual income is approximately 5.4 million yen.
I’ve read online that people often receive refunds from resident taxes as well. However, in my case, I only received a refund from withholding income tax, amounting to 170,600 yen.
Using various tax simulators, I found that my expected refund should be around 250,000 yen.
Is there any reason for this discrepancy?
How can I resolve this issue?
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Additional Information: I moved from Kanagawa to Ibaraki.
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by Illustrious_Usual788