Every year one in four taxpayers – mainly those who proceed to purchase an asset (e.g. a property or a car) or acquire a property with a parental benefit or inheritance – is caught in the trap of presumptions and taxable for older from his actual income.

Taxpayers who acquire real estate should be especially careful and proactive as with the submission of the tax return the presumptions lurk.

However, there are ways to allow the taxpayer to bypass the presumptions and be taxed on their actual income.

One of the weapons that neutralize the evidence, according to TA NEA, is the parental benefit or donation of money.

The cash parental benefits it is tax-free up to 800,000 euros, but – in order for taxpayers to cover presumptions – they will have to be realized within the same year of acquisition of the propertyor other asset.

In this case, the declaration for the monetary parental benefit should be submitted by 31 December 2024.

Declarations of parental benefits are submitted through the myProperty platform, while AADE, to facilitate taxpayers who donate money to their children or grandchildren, exempts them from the obligation to attach the supporting documents proving the bank transaction to the electronic declaration.

The transaction will be checked in the next phase by the AADE based on the data sent by the banks, while in the event that the bank does not confirm the transaction and the taxpayer does not provide the required supporting documents, the Tax Office proceeds with the imposition of tax without taking into account the tax-free amount.

This means that a tax is imposed on the first euro of monetary parental support or donation at a rate of 10% or 20% or 40% (depending on the degree of kinship).