Benefit parents do not have to pay gift tax

Benefit parents do not have to pay gift tax

The parents were duped because the Tax and Customs Administration wrongly did not grant an allowance or stopped it. MPs Mulder (PVV) and Grinwis (CU) asked questions for fear that the tax authorities may still charge the parents for gift tax. This can be from 30% to 40% for donations by non-family members.

The benefit parents need not be afraid of this, replied State Secretary of Finance Alexandra van Huffelen. “If someone receives something from the state, it is by definition not taxed with gift tax.”

The parents can also pass on the amounts received to partners or other family members without the tax authorities coming up with an assessment, the state secretary said. It is precisely the intention that the partner shares it with fellow victims. “There is no question of levying gift tax.”

Borders

But there are limits. If parents or other family members come to the rescue to relieve debts or support children, according to the State Secretary, gift tax is due. “The cancellation or assumption of debts by family members or acquaintances is in principle subject to gift tax when the victimized parent does not have to repay the money.”

Benefit parents do not have to pay gift tax | Money
Source link Benefit parents do not have to pay gift tax | Money

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