Do I pay tax when I donate

Furthermore, when your child is between 18 and 40 years old, it is possible to donate a higher one-off tax-free amount. If the gift is used for an expensive study or training, the exempted amount is even higher. The exemption has also been increased for the purchase or renovation of an owner-occupied home or the repayment of a mortgage debt. When donating these large amounts, a declaration to invoke this exemption must be made to inform the Tax Authorities.

Do you want to know what the exempt amount is for this year or do you want more information about donating? Please feel free to contact our office to make an appointment.