I have been trying to piece together all the information I have read about gift tax, but still find myself confused.
I hold a Table 1 VISA and have resided in for Japan less than five years. However, starting this August, I will be considered a permanent resident taxpayer.
My parents want to gift me some money (above the ¥1.1 million threshold). The money will be used for a down payment on a house in Japan. My partner and I will not purchase the house for a few more years though.
My question is: If my parents gift me the money before this August, would it be exempt from gift tax?
by toriliz