We advise on the different tax rates that apply from time to time, as well as draft and publish donation contracts, typically between family members.
Our Service & Commitment at James Grech & Associates – Notaries Public:
Advice on the taxes involved in donating property and other legal alternatives that may exist.
Drafting and publishing the contract of donation
Timely registration of contract and payment of taxes.
Contact us for more information or to make an appointment in relation to the donation of immovable property.
Frequently Asked Questions
If I donate a property to my son, what taxes are due by both of us?
When a parent donates property to a child, no tax is due by the parent.
On the other hand, stamp duty could be due by the child. However, when the property is donated for residential purposes and it is the first donation between parent and child, no stamp duty is paid on the first €200,000. Furthermore, this exemption only applies if the child declares on contract that he does not own any other immovable property. If the value of the property is higher, stamp duty is then due over such additional value at the rate of 3.5%.