Inheritance tax revision issues
The inheritance tax will be reviewed significantly by the tax system revision. It will be applied from inheritance after January 1, 2015.
In this amendment, amendment has been added to special exemptions such as basic deduction, inheritance tax rate (only a part of it), tax credit and small residential land.
After January 1, Heisei 20, Inheritance tax revision issue
Amendment 1 Basic deduction is reduced. (Increase tax)
Before the revision, 50 million yen + 10 million yen × the number of statutory heirs was recognized as the basic deduction.
However, after the revision, it will be the number of statutory heirs of 30 million yen + 6 million yen.
This will create an obligation to pay inheritance tax to those who have never had to pay inheritance tax.
Case. In the case where the statutory heir is a spouse and two children
Former 50 million yen + (10 million yen × 3 people) = 80 million yen
New 30 million yen + (6 million yen × 3 people) = 48 million yen
The tax rate of revision 2 inheritance tax will be raised. (Increase tax)
The maximum tax rate of inheritance tax was 50% if taxable assets of inheritance tax exceeded 300 million before revision
After the amendment, 50% from more than 300 million yen to 600 million yen or less is unchanged, but when it exceeds 600 million yen, revision was added to 55%.
Amendment 3 Tax deduction for underage deduction will be raised. (Tax reduction)
Before revision … 60,000 yen per year until 20 years old
After revision … ¥ 100,000 per year until 20 years old
Revision 4 Tax deduction for disabled person deduction will be raised. (Tax reduction)
Before revision: 60,000 yen per year until 85 years old (120,000 yen for special handicapped person)
After revision … 100,000 yen per year until 85 years old (200,000 yen for special handicapped person)
Revision 5 Expansion of area requirement for exceptional cases such as small residential land (tax reduction)
Area requirements are expanded only for resident’s small scale residential land.
Before the revision, the upper limit area of the small residential land was 240 m², but after the revision, up to 330 m²
Expanded and apply the special case of small residential area up to the part which did not become a small scale residential land until now
It will be able to do.
In addition, the area to which residential and business residential lots are selected will be expanded.
Before the revision, it was possible to apply up to 400 m² for both residential and business use,
After the revision, it is possible to apply up to 730 m².
For inheritance tax declaration, please do not hesitate to consult