Hi everyone, hope you are having a good weekend. I (late-40s, PR, permanent employee) have a question about how – if at all – can I maximize housing benefits paid by my company.
I work for a Japanese branch of a European company and receive a housing allowance. Currently the company acts as my guarantor for a rental apartment, they pay the rent directly from my allowance and I receive the balance as normal salary paid in Japan. I pay utilities, parking, etc on my own. So for example, if they grant me a 300k/month allowance and my rental is 200k/mo, they pay the 200k directly and I get the 100k extra.
I'm thinking about purchasing a mansion this year in Tokyo, mostly to be closer to the office but also to put some of that housing allowance towards something I can keep. I plan on living there for 5+ years if not longer.
What I am wondering is, are there any tax benefits to me if I get a mortgage which the company pays directly out of my allowance? Are the benefits different than for rental paid directly, and is there a cap on these benefits? I honestly have no idea how this might work and Google isn't much help on this.
by Fuuujioka