Wealthy parents rushing to gift money for home purchase before tax increase
2 years, 4 months ago

Wealthy parents rushing to gift money for home purchase before tax increase

NL Times  

Notaries are seeing a flood of wealthy parents rushing to gift their children 106,671 euros tax-free for purchasing a home or paying off a mortgage before that tax exemption disappears next year, NOS reports. “People are really engaged in it; we get a lot of questions,’ said Lucienne van der Geld of Netwerk Notarissen, which has about 150 offices. “Their child does not yet have immediate purchase plans, but with that, they keep the option open.” The Dutch government implemented the “tax-free ton” in 2013 to stimulate housing sales, which were lagging in the aftermath of the credit crisis. “It is an important step that contributes to a fairer playing field among starters and reduces inequality,” said Housing Minister Hugo de Jonge.

History of this topic

Family gifting for house purchases to hit record £9.2bn this year, finds survey
6 months, 2 weeks ago
First time buyers can borrow more, but the €106,000 tax free gift is going
3 years ago
First time buyers can borrow more, but the €106,000 tax free gift is going
3 years ago
The housing crisis has just taken an even more frightening turn thanks to the so-called Bank of Mum and Dad
8 years, 10 months ago
People with savings up to €100,000 to pay less tax
9 years, 6 months ago

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