Income tax revision From January 2020
| Income tax revision contents | |
|---|---|
| Basic deduction |
Increase deductible amount by 100,000 yen Decreased from over 24 million yen annual income to 0 yen to over 25 million yen |
| Salary income deduction |
The annual income is 8 million yen and it is the upper limit of deduction Reduce deductible amount for less than 8 million yen |
| Public pension deduction |
Pension income is 10 million yen and it is the upper limit of deduction Income tax other than pension is over 10 million yen, deduction by 100,000 yen Decrease by 200,000 yen by more than 20 million yen |
Regarding the revision of income tax, it is now implemented in January 2020 with the above contents.
Reduce the salary income deduction by 100,000 yen uniformly and further reduce the upper limit of the deduction amount now to “2.2 million yen a year with annual income of 10 million yen or more” to “190 million yen / year over 8 million yen”, but all The basic deduction that taxpayers can receive will be raised from 380,000 yen to 480,000 yen. Those with an annual income of 8 million yen or less will not increase the tax because the reduction amount of the wage income deduction and the increase of the basic deduction will be the same. The tax increases from the annual income of over 8 million yen to “30,000 yen a year at 9 million yen” and “60,000 yen a year at 10 million yen”, but for individual business owners tax cuts down to less than 24 million yen .
Children under the age of 22 and households who are physically handicapped and those who need nursing care are subject to tax hikes.