In this period of lasting health crisis, the urge to give money, gifts, to make donations is perhaps even stronger than usual. Christmas is a great time for this. But what can we really offer? Details from Aurélie Petitbon, expert in heritage law within the SVP group.
franceinfo: What can I give to my children and my grandchildren without them having to pay fees?
Aurélie Petitbon: You can donate what you want, money, jewelry, paintings, stocks or shares. Each parent can give up to 100,000 euros to their children, without there being any gift tax to be paid by them.
So a couple can pass up to 200,000 euros to their children. This reduction can be applied all at once, or in several installments, every 15 years. For grandchildren, the allowance is 31,865 euros and for great-grandchildren 5,310 euros.
And to nephews and nieces? And to minor children?
There is a specific exemption for family donations. There are several conditions listed in article 790G of the General Tax Code. The donor must be under 80 years of age on the day of transmission, and the beneficiary must be of legal age.
Donations of sums of money must be made in full ownership, that is to say that we cannot donate in dismemberment. So for my nephew, I could only give if he is of age, and failing that, of direct descent.
If these conditions are not met, the exemption cannot be applied and we will revert to the general allowance which is 7,967 euros to be exempt from duties.
And beyond ?
The amount is taxed at 55%.
How do we go about giving?
For the one who receives the donation, it is necessary to make a tax declaration. You must file a CERFA in duplicate, at the tax office of your place of residence, within one month, from the date of transmission of the property. The parties can also write an adjoining pact, which will make it possible to give a certain date to the donation, and which will fix, for example, the age from which the beneficiary will be able to receive the funds.
Can I donate real estate?
Yes, but necessarily before a notary, on pain of nullity. It is he who will take care of the tax declarations and who will make you pay all this with his emoluments.
How important is this age of 80?
We are talking about this barrier age, but we can give at any age. But to benefit from the exemption on family donations, the donor must be under 80 years of age. All the information on donations can be found on the impots.gouv.fr website in the “Manage my assets” section at “I am making a donation”.