alby3
Junior Member
Posts: 26
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Post by alby3 on Mar 31, 2009 2:55:05 GMT 1
Hi,
Has anyone had any experience in the Gifting of property?
I found a small section in Carol's Book section, " Inheritance and Gift Tax" which states children, sons-in-law etc. are exept from the tax.
Is the procedure straight forward?
Thanks, Alby3
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Post by Carol on Mar 31, 2009 11:49:22 GMT 1
did i write that? I don't remember that bit! The publisher and editor were very keen to get me to write in terms that would be recognised abroad. So although as far as i could see Croatia does not have inheritance tax but instead they have a 5% property tax (Real Estate Transfer Tax) they still wanted me to talk about inheritance tax. Maybe children are exempt from RETT but I'd need to check that again as I really do not remember that part.
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Post by mambo on Mar 31, 2009 16:48:22 GMT 1
As far as I know parents can give basically everything without tax to their children. A few years ago a girl friend of mine got some land from her father and she has never paid a single penny for it. The ownership was transferred to her name and that was it.
Last year a relatively young man (38) died and he left everything to his under aged son (14). This included a house and some land and as far as I know he did not have to pay tax.
This is definitely a good thing in Croatia, unlike Holland where you have to pay 40 to 60 % tax when you inherit something.
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Post by mickanddeb09 on Apr 8, 2009 12:23:29 GMT 1
Micks mum has just turned 80 and lives in her little (emphasis on little) house in the village alone.
She has substantial land there which she wants to sign over to him. We assume this would not be a big problem? We also assume he will need to have citizen papers for this? We spoke to the embassy here in Australia and they informed him that if he was born there (which he was) he would just need to go in there and organise the papers. This seems too easy, any clues anyone?
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