Many are still busy trying to ensure that the \u20ac100,000 gift tax exemption can be used at the very last minute in 2014. This exemption will definitely expire on 1 January 2015, and Finance has repeatedly stressed that there will be no transitional or grace period. The donated amount must really have been used before 1 January 2015, except if the donation is used for maintenance or renovation of a home that qualifies as an owner-occupied home on 31 December 2014.<\/p>\n
In the meantime, Finance has announced the gift tax exemptions for 2015:
\n* gift to children: \u20ac5,277 (2014: \u20ac5,229);
\n* increased once when donating to children aged between 18 and 40 to \u20ac25,322 (2014: \u20ac25,096);
\n* if used for own home or an expensive study up to \u20ac52,752 (2014: \u20ac52,281);
\n* other acquirers \u20ac2,111 (2014: \u20ac2,092).<\/p>\n
If gift tax is payable, it is for the taxable part of the gift up to \u20ac121,296 (2014: \u20ac117,214): 10% and above that amount: 20%. For grandchildren, the rate is 18% and 36%; for other beneficiaries, 30% and 40%. The same rates apply under inheritance tax.<\/p>\n