Summary of Transaction Costs and Taxes
1. Acquisition Tax (取得税)
Buyers of residential property are subject to one-time acquisition tax of 1.5% of the government valuation of the land and 3% of the value of the building. The government valuation is usually about 60-80% of the market price of the property. This tax is paid to the local government and is usually due within six month of the purchase.
2. Registration Tax (登録免許税)
The transfer of a property incurs registration tax. Currently the tax is 2% of the government valuation of land and 1.3% of the value of the building.
3. Stamp Duty (印紙税)
Stamp duty is levied on the sale contract and mortgage agreement and varies on the contract type and amount.
4. Judicial Scrivener Fees (司法書士手数料)
The Judicial Scrivener acts like a solicitor to settle and register the property transaction. The fees vary depending on the size and complexity of the transaction.
5. Agents Fees (仲介手数料)
Agent fees are set at 3% of sale price + JPY 63,000.
◆ This document is not a thing guaranteeing that the present rent income is provided surely in the future. After the tenant was dismissed, you will need to assume that the rent does not enter for a certain period of time.
◆ Considerations : The information contained herein should not be used in any actual transaction without the advice and guidance of a professional ‘Tax Advisor’ who is familiar with all the relevant facts. The information contained in any potential real estate investment is general in nature and is not intended as legal, tax or investment advice.
Furthermore, said information may not be applicable to or suitable for the individuals’ specific circumstances or financial needs and may require consideration of other matters. The document originator assumes no obligation to inform any person of any changes in the tax law or other factors that could affect the information contained herein.
It is based on assumptions and has been made in view of the information available at the time of writing the problem is a specific description of unknown risks and uncertainties, risk and uncertainty, forward-looking statements, other There are likely to be affected is a assumption of the factors. Therefore, forward-looking statements such, does not guarantee future results.