Most wage earners are not required to file a final tax return because the calculation and payment of income taxes are completed through the year-end adjustment by the person paying the salary.
However, in principle, wage earners are required to file a final tax return if any of the provisions applies:
|1||Your total employment income exceeds 20 million yen.|
|2||You receive salaries and wages from one source only, and your total income (excluding employment income and retirement income) exceeds 200,000 yen.|
|3||You receive salaries and wages from two or more sources and your total earnings (excluding primary salaries) and income (excluding employment income and retirement income) exceed 200,000 yen.
(Note) However, you need not file a final tax return if your total employment income after subtracting all the tax allowances (excluding the deductions for casualty losses, medical expenses, donations and basic exemption) does not exceed 1.5 million yen, and your total income (excluding employment income and retirement income) is 200,000 yen or less.
|4||You are a director of a family company or a relative of the director thereof, and receive interest on loans or rent for properties from the company concerned.|
|5||The withholding of income tax, etc., is postponed under the Disaster Exemption Act.|
|6||You receive salaries and wages from those who are not obliged to withhold tax at source.|
|7||The amount of tax on your retirement income is calculated by a regular method and exceeds the amount of tax withheld.|
|(Note)||The total amount of employment income (excluding employment income and retirement income) does not include the following: