So my father has quite a bit of extra income during retirement and wants to spoil his grandkid a bit since he can’t see them physically often.
This year so far he’s sent me ¥1,007,170.
¥120,000 was to pay for swimming school,
¥210,000 was to pay for me to get some licenses at my local driving school, ¥90k was a birthday present for my kiddo and the rest was for “gift”
Now, if I understand correctly, money used for daily life isn’t taxable? I’m using google translate and the nta website if found on this sub
Does that mean my father could still give me (as in not for my kid or my wife) another ¥600k before it would be taxable? All the money comes to my bank account and I spread it out to where it needs to go.
Edit: so my father is planning to send me another ¥300k or so due to a job change and the new job’s pay period doesn’t match my current one and I’ll lose about half a month’s worth of pay that he’ll help me cover. So I’ll be at over ¥1.4 mil or so for the year
by Mediumtrucker