Japan has a gift tax and inheritance tax that can take up to 50%. This means that all families that have substantial wealth will definitely lose this money over time within three generations because just the inheritance tax alone will decimate any assets built up over time upon the death of the asset holder.
No doubt, Japanese old money have probably devised strategies to avoid these taxes. Does anyone know how they do it?
9 comments
Off shored in trusts.
If you start giving the money to your kids before you die, it’s not an inheritance.
https://www.zeirisi.co.jp/souzokuzei-taisaku/inheritance-measures/
Start a company.
Sell everything you own to your company.
Give yourself a generous “executive package”
die
leave worthless company that never made a profit to your children.
Buy Rockefeller Center
Buying real estate abroad.
Cayman Island account.
Cardboard boxes full of cash in the garage.
The tax is progressive anyway. There is no situation where you’re going to be paying 50% on everything
Giving their kids cushy jobs I guess? Isn’t the whole thing with elites here that they get their jobs to pay for a lot of stuff?