We continue the series of publications dedicated to the plans of the government headed by Mark Rutte for the fourth time. The coalition agreement (coalitieakkoord) reached by the parties VVD, D66, CDA and ChristenUnie presents initiatives that are yet to become laws.
Present of parents to children for the purchase or renovation of a house
The coalition government has reached an agreement under which the impressive cash gift of parents to children will now be taxed from 2024.
The news is unpleasant, but not everything is so critical, because a gift in the form of a transfer for a tidy sum can be presented until 2024.
Moreover, a cash gift for the purchase or improvement / repair of housing can be made only once in a lifetime and only for children from 18 to 40 years old. In 2022, the tax-free amount of a house gift is 106.671 euros. In 2021, it was 1.369 euros less - 105.302.
This one-time amount may be less. In 2022:
- For any purpose - 27.231 euros,
- For education - 56.724 euros.
The annual gift for children in 2022 is 5.677 euros, in 2021 it was 6.604. The fact is that in 2021 the tax-free gift was temporarily increased due to the corona crisis.
Other cash gifts
Grandparents in 2022 can give their grandchildren 2.274 euros. In 2022 there were more - 3.244. The amount of the annual gift that is exempt from tax changes every year.
If you receive a cash gift, you must fill out a special "gift" declaration (schenkbelasting aangifte) and submit it before March 1 (for the previous year). Otherwise, tax sanctions may follow. For example, the abolition of exemption (vrijstelling) from tax.
Contact us if you need help completing your gift tax return. Write to us in the chat on the website, social networks or email info@nalog.nl.
Publication Date: 01.02.2022
