Gift tax: use the allowances every 10 years
Transferring assets during your lifetime can be tax-smart: for gifts the same allowances apply as for inheriting, with one decisive advantage. They can be used up anew every ten years.
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What you should do now
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1. Determine the allowance
Which allowance applies for the family relationship between the donor and the recipient?
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2. Use the 10-year rule
Plan larger transfers so that the allowance applies anew every ten years.
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3. Report the gift
Report the gift to the tax office within three months.
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4. Get advice
For real estate or larger amounts, tax/notarial advice is worthwhile.
Frequently asked questions
How much can I give away tax-free?
Up to the amount of the personal allowance, which depends on the family relationship, for example 500,000 euros for spouses/life partners and 400,000 euros per child. These allowances apply to gifts just as to inheritances and can be used anew every ten years.
Do I have to report a gift to the tax office?
Yes, generally within three months. Gifts between the same persons are added together over a period of ten years to check the allowances. Anyone who transfers early and in stages can use the allowances multiple times and thus save tax; for larger estates, advice is advisable.
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General information for self-help, not legal advice (RDG). In case of a high loss or uncertainty: contact a consumer advice center or a lawyer.