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About the Tax on Divorce Part.1

Recently, we have been receiving more and more inquires about the distribution of property on divorce and the tax of it. This time and next time, we would like to share some information about this matter to you in two parts.

Contents

1. Popular questions about the tax related to divorce Q&A

2. About the distribution of property and the tax of it

3. Summery

1. Popular questions about the tax related to divorce Q&A

Q:

We have decided to get a divorce and have reached the agreement of paying the costs of maintaining dependent children. Will I be charged any tax?

A:

About the costs of maintaining dependent children, neither the paying side nor the receiving side will be charged the tax.

Q:

We have decided to get a divorce and I will pay the consolation money. Will I be charged any tax?

A:

About the consolation money, neither the paying side nor the receiving side will be charged the tax.

Q:

We have decided to get a divorce and I will pay the money as the distribution of property. Will I be charged any tax?

A:

About the money payment, neither the paying side nor the receiving side will be charged the tax. However, if the amount is not proportionate, the excessive part might be regarded as a donation and be charged the tax.

Q:

We have decided to get a divorce and will distribute the real property. Will I be charged any tax?

A:

Please be noted that the receiving side will be charged the registration and license tax and the real estate acquisition tax for the transfer of real property, on the other hand, the transferring side will be charged the transfer income tax. There was a trial for claiming the invalidity of distribution of property due to the unexpected tax before. If you are distributing the real property, it is desirable to consider the deduction of 30,000,000 yen regarding the transfer of residential assets or deduction of 20,000,000 yen regarding a couple over 20 years as well as the tax aspect before deciding the distribution of property.

2. About the distribution of property and the tax of it

Usually, the donation tax will not be charged for the case of receiving the properties due to divorce. Because this is regarded as a distribution based on the right to claim property for clearance of the property between a couple or life security after getting divorce but not as a donation from the other. However, if the following conditions below apply, the donation tax will be charged.

2-1 The amount of the property distributed exceeds the total income amount by the collaboration of both couple or it is still regarded to be excessive on considering any other circumstances, it will be charged the donation tax for the excessive part.

2-2 If the divorce is admitted as for escaping the donation tax or inheritance tax, all of the property caused by divorce will be charged the donation tax.

3. Summery

This time we shared the answers to some questions regarding the tax of divorce and the tax for the distribution of property. Though it causes a lot of burden both mentally and physically, it is still necessary to consider the tax. If this is your case, we recommend you to consult with the experts. In the next article, we will talk about “the donation of residential assets and tax before getting divorce” and “taxation on the dispenser of real property”.

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