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La experta desmonta el mito de que donar no es sinónimo de 'no pagar impuestos'
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Donating Property to Children: Understanding the Hidden Tax Surprises for Parents in Spain
Madrid, Spain – A recent video by notary 'notariabuendia' sheds light on the often-misunderstood tax implications of 'donations in life' (donaciones en vida) in Spain, particularly for parents looking to plan their inheritance. Contrary to a common belief that donors are exempt from taxes, the notary explains that the donor can indeed face a significant tax surprise in their income tax (IRPF) declaration.The expert highlights that if a property, such as an apartment, commercial space, or land, is donated at a value (determined by the reference value) higher than its original acquisition cost, the donor may be liable for IRPF. This is because the donation is treated as a transfer of property, and any increase in value since acquisition is subject to capital gains tax for the donor.However, the notary also provided reassurance by outlining specific situations where donors will not incur tax consequences. These include the donation of a primary residence by individuals over 65 years old, donations of money, immovable properties without capital gains, contributions to protected assets, or certain family businesses. The video stresses the critical importance of being well-informed and seeking professional advice from a notary before making any donations, as each case is unique and a well-considered decision today can prevent future financial complications.
