Hi,
I am a resident and a hobby of mine started to generate some low income this year. If the trend continues the same way, I expect the total income to be below the 200K JPY threshold for 2024.
From my understanding, as the amount is below the threshold, this does not trigger additional income tax, although residence tax still needs to be paid.
Currently, taxes are deducted from my employee’s salary. Do I simply need to declare this additional amont next year when filling the tax return/kakutei shinkoku (combined with other unrelated tax deductions for example)?
After filling the tax return, my employer will be automatically notified and they will adjust the amount to be deducted from my salary to pay the residence tax in 2025. Is it correct?
Thanks!
by kinokool