Navigating french gift tax: what you need to know when gifting property 🏡💸
Navigating french gift tax: what you need to know when gifting property 🏡💸"
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NOTAIRES ARE REQUIRED TO CONFIRM THE TRANSACTION Reader Question: Is tax payable if gifting a second home to a French family member; i.e. children or grandchildren? You need to go via a
notaire for the transaction, and there will be droits de donation – gift tax – payable, which can either be paid by the recipient of the gift, or yourself, if you prefer. Gifts are subject
to allowances that vary depending on family relationship, similar to inheritances. Current allowances are €100,000 per child or €31,865 per grandchild. After that, tax is payable at 5% up
to €8,072, 10% up to €12,109, 15% to €15,932, then 20% up to €552,324. There are also higher bands at 30%, 40% and 45%. A stamp duty tax at 0.6%, costs 2.37% of this, and a further
‘property security’ tax at 0.1% will also be taken. Read more: Succession planning in France can highlight cultural differences
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Navigating french gift tax: what you need to know when gifting property 🏡💸NOTAIRES ARE REQUIRED TO CONFIRM THE TRANSACTION Reader Question: Is tax payable if gifting a second home to a French f...
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