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Ask a tax advisor on the topic of Gift tax

Receiving a gift. I want to pass on the sum. Will gift tax have to be paid twice then?

I have received a gift. Since I am not in a bad financial situation, I would like to give this gift to my life partner - We have been living together for two years and are not married. My question is: Do we both have to pay the gift tax then? So, me because I received the money as a gift and him because I want to give him this amount? Are there any ways to only pay the gift tax once?

Michael Herrmann

Dear questioner,

First of all, thank you for your inquiry, which I would like to answer based on the information provided and in the context of your commitment to an initial consultation. The response is based on the description of the situation. Missing or inaccurate information about the actual circumstances can affect the legal outcome.

The main goal of inheritance and gift tax is to capture generous gratuitous enrichments.

The starting point of the Inheritance and Gift Tax Act is the taxation of gratuitous acquisitions by reason of death. The inheritance tax law is largely based on the inheritance law of the German Civil Code (§§ 1922 ff. BGB). In terms of the form of taxation, an inheritance tax has been chosen. Accordingly, the increase in wealth (enrichment) of the acquirer is taxed, not the amount of the estate.

Essentially, the other tax categories are necessary substitute taxes to prevent inheritance tax from being ineffective. In particular, the inclusion of all gratuitous gifts among the living (gifts) serves this purpose. The tax concept of a gift goes beyond the civil law concept.

In this respect, the provisions on acquisitions by reason of death apply, unless otherwise specified, also to gifts among the living.

Taxation is based on three tax classes, which are determined by the relationship between the deceased/donor and the acquirer, and within the tax class, by the value of the taxable acquisition.

It follows, therefore, that the gift to you as well as the gift to your life partner will be taxed as separate taxable events.

The determining factors for taxation are the value of the gift and the relationship to the donor at the time of the gift. Since you are currently not married, the gift to your life partner would fall into tax class III. This would result in a high tax rate of 30% (or 50% for gifts valued at €6,000,000) and a low tax exemption of €5,200.

However, the exemption is available for gifts every 10 years, which may not be a serious option given the amount of the exemption.

Gifts between spouses are taxed with an exemption of €307,000, which significantly reduces the taxable acquisition. Furthermore, significantly lower tax rates (between 7 and 30%) are applicable. Compared to the current situation, this is a much more favorable alternative.

Therefore, in regards to the second gift, marriage would be the best instrument for reducing taxes. Since this step should not only be taken for tax reasons and involves costs, it should be carefully considered.

If marriage is already being considered or at least not ruled out, it may be advisable to wait with the gift.

A complete avoidance of the taxable event is not possible. However, before the gift, careful consideration should be given regarding the assets to be transferred and other family relationships, to determine if there are further opportunities for tax reduction. This can only be done through a comprehensive assessment.

I hope that this initial consultation has provided you with a sufficient overview of the topic and remain

Sincerely,

Michael Herrmann
Dipl.-Finanzwirt (FH)
Tax Advisor

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Experte für Gift tax

Michael Herrmann

Michael Herrmann

Köln

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Diplom-Finanzwirt

MICHAEL HERRMANN

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