Hello,
Yes, this is another tax calculation post and I’m sorry. I’ve read other posts and in one way or another, I’m unable to get the accuracy that I need to make an informed decision. Some context: I’m currently based in the EU and I just got a job offer from a Japanese company, which entails a relocation to Tokyo. Now, since I’m moving with my family (a wife and 2 kids), I need to accurately calculate my monthly income in order to understand how sustainable this project will be. Some more numbers:
\- The offer is about 20M JPY / year
\- Wife will be unemployed, at least initially
\- Kids will need to go to an international school, as they don’t speak a word of Japanese
\- The job is based in Tokyo, although the format is WFA (Work From Anywhere in Japan), so I believe I’ll look for an apartment to rent somewhere around Tokyo but not necessarily in the city
\- Hard to say now, but I’m thinking about staying in Japan for around 3-5 years
Now the questions:
\- How do I calculate the net salary, considering I have 3 dependants?
\- What type of expenses are deducible? Considering my situation, I’m thinking about rent and tuition fees, maybe?
\- Is it true that new residents will not pay the resident tax for the first year?
\- Are there any other tips/strategies to lower the taxation? I heard something about Furusato Nozei and iDeCo, although I’m not sure if I’m eligible for it
\- When leaving Japan, is it possible to get back any pension contribution I have accrued so far?
Thanks in advance, and feel free to ask questions about anything important I omitted!
by Routine-Sort-8307