Inheritance question and gift question
Sorry – I hope this does not repeat any other questions on here. ( I have checked)
I went to the Tax office the other day to discuss parents giving my company in Australia a donation or gift ( whatever the correct terminology is is both countries) and if that would be considered as me receiving a gift or early inheritance etc and the answer was NO.
The person who helped me said that an inheritance 相続or gift 贈与　is between people, not a person and corporation nor corporation and corporation.
If my company in Australia(not operating in any way in Japan) was to receive a donation from either a family member or another family corporation, (that was not a loan or payment of goods or services) that it would only be subject to Australian corporate tax law ONLY, and that even though I am an unlimited tax payer in Japan, I would not have to lodge a gift or inheritance tax return. even though I own the receiving corporation.
An accountant I work with has told me something similar… But as no-one is willing to put anything on paper, Im hoping someone may be able to poke holes in this reasoning. I did do a couple of hours of research on the net in Japanese, and it seems that some take a similar approach in Japan. But corporate tax works a little differently here.
Hoping for some helpful comments here. Forgive me for spelling and grammar.
by krbkana