Amount of donation deduction = Amount of donation – 2,000 JPY
* An amount equivalent to 40% of gross income will serve as the upper limit of the amount of deductible donation.
* An amount equivalent to 25% of the income tax amount for the year will serve as the upper limit of the amount of income tax deduction.
* In addition to the existing “income deduction”, donations to the “Student Support Fund” have become subject to “tax credit” since the 2016 Japan tax reform. When filing a final tax return, you can choose between “tax credit” and “income deduction”, whichever is favorable to you.