hi all,
Been living in Japan for 4 years now, got married last year and and I’m currently in the process of buying a house.
I didn’t have enough cash for the 10% deposit so I asked for $30k AUD from my dad. After transferring to Japan it ends up around ~¥2.9 million. All remittance occurred in early January.
My wife is freaking out about the tax implications for this as it’s too much for a gift but my dad asked for it back when I get the chance (so it’s essentially a Family Loan). She called a tax agent and they said that we should be ok as it’s for buying a house and the government has some sort of program for that?(something about tax free transfer of cash if it’s for the purpose of buying a new house)However they said we need to declare it.
Wife and I got into a fight recently about it so now I need to sort it out by myself and my lack of Japanese lol.
How should I be delcaring this loan?
by thewallsarescreamin