Recently, we have had a lot of inquiries about how to make a donation in the family? Is cash transfer allowed? When we will not pay gift tax? Therefore, Rzeczpospolita recently published an article containing a comment by Piotr Sekulski, PhD regarding the correct ways of making a donation.
In the article available at this link you will find a lot of interesting information about the tax aspects of donations.
Piotr Sekulski, PhD „Recovery on the housing market after the introduction of the 2% loan. has caused many people to collect funds for their own home and ask about the tax consequences of family donations. However, they are often interested in settling accounts with the tax office after making a donation and it turns out that they have not met the formal conditions for tax exemption.”
Piotr Sekulski, PhD “Most often, money is transferred from hand to hand and only then deposited into the account. Or the donor transfers it directly to the apartment seller’s account. Unfortunately, in both situations the tax office does not agree to the relief (…)
Can an incorrectly documented donation be withdrawn? – The Civil Code allows the revocation of a donation if the recipient has committed gross ingratitude towards the donor. However, it would be difficult to convince the tax office that such blatant ingratitude has occurred, especially if after some time the money goes to the recipient again.”
We have already touched this issue in an earlier entry:
