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Here are the 10 days of the year when you can give money to your children without paying taxes, the next one is coming soon

Here are the 10 days of the year when you can give money to your children without paying taxes, the next one is coming soon

These few dates to avoid the taxman are to be noted in the calendar.

It's a question that comes up again and again: how much can I give to my children or grandchildren without having to declare it to the tax authorities and, above all, without having to pay tax on it? Many people seek a clear and precise answer from the administration, but the Treasury deliberately keeps things vague. Therefore, two dates are often favored for making payments without the risk of being harassed: Christmas and birthdays, of course.

However, there are many other opportunities to write this type of check that are "authorized." The "list"—even if it's not official—includes about ten in addition to the two mentioned above. And few are aware of them, even though the day for a "justified" donation is coming soon.

In the texts, nothing governs these exceptional payments, described as "customary gifts." However, the sum must be "modest" (generally no more than 2% of the donor's assets) and must therefore be linked to an event. Beyond birthdays and Christmas, other religious holidays can serve as proof, regardless of religion. Therefore, the following are taken into account:

  • Easter
  • Ascension Day (Thursday, May 29)
  • Pentecost (Monday, June 9)
  • Assumption (Friday, August 15)

If Easter has passed, the upcoming Catholic holidays, including Ascension Day, may very well be a reason to donate money. Furthermore, as with Christmas for Catholics, Eid al-Adha (which has passed) and Eid al-Fitr (Friday, June 6) are also taken into account. It is also customary, as with Christmas, to give money during these holidays. Just as it is for Passover (April 12-19) or Yom Kippur (Wednesday, October 1), the most important Jewish celebration.

Finally, two other days of the year allow you to make a payment to a loved one without too much risk: January 1st (or at the beginning of the month), as a New Year's gift, but also on the recipient's birthday, according to the Gregorian calendar.

The list lists recurring days. However, there are other legitimate reasons for donating money, such as passing an exam, getting married, giving birth, moving into a new home, etc. It simply needs to be justified in the event of an audit and, above all, proportionate to your assets. Otherwise, penalties for undeclared donations could apply.

L'Internaute

L'Internaute

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