Trusts for grandchildren's education prove popular in Japan
Jiji Press -- Apr 05
Japanese trust products designed to allow gift tax exemptions for grandparents' donations to cover the educational costs of their grandchildren have enjoyed higher popularity than expected since their launch in April 2013.

The total amount of such donations put in trust is likely to top one trillion yen by the end of 2015, when the temporary tax exemptions expire, a top official at the Trust Companies Association in Japan said.

The Japanese government decided the tax exemptions for donations of up to 15 million yen for such education expenses as part of tax system reforms for fiscal 2013.

Source: Jiji Press
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