Good evening,
I’m planning to transfer a gift I will receive from my parents for the purpose of buying a house from my own bank account in my home country to my bank account in Japan.
I think I have thought about everything (thanks to this awesome sub), but would be glad if anyone could confirm if I missed something. I’ve looked through many posts, but all of them are either only about gift tax, or from people who have foreign-sourced income on their bank account, which seems to complicate things.
The flow is as follows: My parents will transfer ~170k€ to my bank account in my home country, from which I will transfer it in Euro to a foreign currency savings account I opened with Sony Bank. At some later point in time I plan to exchange it to Yen.
There are two things I’m worried about:
1. Gift tax. Here I’m pretty sure I am exempt from Japanese gift tax as I am on a Table 1 (working) visa and have been in Japan for less than five years. The gift tax of my home country is no problem.
2. “Miscellaneous income” I have to report based on possible foreign currency gains once I exchange to (“buy”) Yen.
For number 2 I’ve read through [this](https://www.reddit.com/r/JapanFinance/comments/u9akd5/guide_to_the_taxation_of_foreign_currency/) excellent post and think I know what to do, but would like a bit of assurance.
For context, there are currently around 10k€ in my account and since I’ve moved to Japan there were basically no incoming transactions (no foreign-sourced income). This is why I think the calculation of the acquisition price should be straightforward as the moving average should be governed by the gift from my parents and the current exchange rate.
So in my understanding, once I exchange to Yen I will have either a foreign currency gain or loss depending of how the exchange rate changed between the time **my parents transferred the money** and when I exchange it to Yen. The remaining two questions I have are:
1. If I gain ~~more than 550k Yen~~ anything, I have to do 確定申告 myself in **March 2025**? (I never did one myself)
2. If I should have a loss, do I need to report that even if there is no other miscellaneous income to offset?
Sorry for the long post, but I’ve never transferred this amount of money before and am pretty nervous to miss something.
Thanks!
EDIT: Not sure where I got the 550k Yen from, seems the threshold is *any* income besides my main salary?
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