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Thread: Would you accept JET if you had heavy financial commitments back home?

  1. #21
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    Default Re: Would you accept JET if you had heavy financial commitments back home?

    Quote Originally Posted by shue View Post
    Thanks everyone.. can someone verify what my friend told me? Of the monthly pay I get, I need to set aside 20% for taxes, and a further 18% for health insurance and pensions (I know I get part of that back, but it doesnt matter..its cash upfront) i
    Are you USA or not? Other countries pay more in tax. If I'm wrong about this, someone correct me.

    Bluntly, I started in 2012, so on the new pay system. My take home is about 2800 a month, and what I posted before was based on that.

  2. #22

    Default Re: Would you accept JET if you had heavy financial commitments back home?

    I started in 2012 as well, but my BoE wasn't altogether interested in switching to the new system, so, I'm on the old pay grade. You might get a nice BoE like that. It apparently benefits me more.
    いいみで

  3. #23

    Default Re: Would you accept JET if you had heavy financial commitments back home?

    Quote Originally Posted by tealparadise View Post
    Are you USA or not? Other countries pay more in tax.
    Are you referring to paying tax to your home country? I was under the impression that UK citizens don't pay any tax at all to the UK government while working abroad. I could have misinterpreted what I read though... Tax Requirements and Obligations for British Citizens Who Move Overseas : Expat Info Desk

  4. #24
    Senior Moment Antonath's Avatar
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    Default Re: Would you accept JET if you had heavy financial commitments back home?

    Quote Originally Posted by uzateq View Post
    Are you referring to paying tax to your home country? I was under the impression that UK citizens don't pay any tax at all to the UK government while working abroad. I could have misinterpreted what I read though... Tax Requirements and Obligations for British Citizens Who Move Overseas : Expat Info Desk
    The USA has a tax agreement with Japan whereby Americans don't pay Japanese taxes for two years (may just be city taxes? I'm a Brit so I don't know the details). Brits and most other people have to pay them from the start. Neither pays taxes in their home countries (unless they're making money there as well, obviously).
    Last edited by Antonath; May 13th, 2014 at 18:07.
    ...because Japan.

  5. #25

    Default Re: Would you accept JET if you had heavy financial commitments back home?

    Strictly speaking, the US requires all of its citizens to pay federal income tax irrespective of where they live. However, you can exempt the first $96,000 you make from working abroad if you live outside the country (and in a country with which the US has a tax agreement in place) for 360 days in a 365 day period or voodoo loophools of the Bona Fide Residence test. Any income made in the US (such as taxable dividends on investments etc) must still be paid.

    The Japanese-US tax agreement exempts Americans from paying local residence taxes in Japan for the first 2 calendar years from their arrival date in Japan, after which point they must pay like anybody else.

  6. #26
    Gizmoduck - blatherskite Gizmotech's Avatar
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    Default Re: Would you accept JET if you had heavy financial commitments back home?

    Quote Originally Posted by shue View Post
    Thanks everyone.. can someone verify what my friend told me? Of the monthly pay I get, I need to set aside 20% for taxes, and a further 18% for health insurance and pensions (I know I get part of that back, but it doesnt matter..its cash upfront) Previously I only budgeted for 20% off, which was why I thought I can save. Now with an additional 18% thrown in, it means my parents will have to fork out even more for me. The new intakes get lesser pay and more taxes, it's rather errm taxing isn't ut. After an internaI struggle I've decided not to pursue JET this year.

    But I guess, if I won't be able to enjoy myself while I'm there, and I have to constantly worry about the house back here, then I won't really enjoy JET I think. I'm going to call the coordinator at my Japan Embassy here and explain, she's a really nice lady. And then, I keep my fingers crossed till next year. Maybe I'll come across something better.

    Thanks everyone for your advice

    Quote for the moment to console myself in giving up a 3 year dream.... "As I look back on my life, everytime I thought I was being rejected from something good, I was actually being redirected to something better." Steve Maraboli
    My pay stub: (old system, but work out the % and recalculate on a base payment of 280,000/month)
    Pay: 322,000
    Health: 15936
    Pension: 27392
    unemployment ins: 1610
    Income tax: 7490
    Municipal Tax: 13800
    (Total deductions): 66228
    Take home: 255,772

    These numbers will work as my paystub includes all relevant taxes in it, and my employer is handling my municipal tax payments rather than making me handle it myself (local tax). I was old system, so I was adjusted up from 300,000 to the 322,000, but on the new system, the percentages should be similar. It looks like it's about 20% total after your first year (when municipal tax starts) so... 230,000 / month? After that take off any living costs (which could be upto 120,000/month) and there's your final food/savings money.
    Quote Originally Posted by Cytrix View Post
    Organising anything with ALTs is like herding cats on catnip

    Quote Originally Posted by Antonath View Post
    We Jeeperneez are express all emotion through money. Wedding is happy money. Funeral is sad money. Izakaya is friendship money. Girl-bar is almost-sex money. But babby-borning is bery happy money, as no babby in Japan. All babby is special so we is givings much money as presento for babby.

  7. #27

    Default Re: Would you accept JET if you had heavy financial commitments back home?

    I am surprised no one's mentioned the exchange rate. Yes, it is stabilized for the time being (I still take the 2-3% "loss" when I send money home), but it was way easier to send home $1,000 when the yen was 30% stronger.

  8. #28

    Default Re: Would you accept JET if you had heavy financial commitments back home?

    Just an update half a year later. I declined in the end, and I wasnt blacklisted because I didnt know my placement yet. It was a hard decision and I was pretty depressed but hey im back and im applying for 2015 intake! By then, my house shld be ready for rental thanks everyone for your help and advice.
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