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Here is how much money can be given to a wife and relatives without a notary and communications to the Revenue Agency

The Christmas holidays are approaching and also this year it is time to exchange gifts. When you are short of ideas, you sometimes prefer to give away sums of money in order to leave full freedom to those who receive them. In other cases, however, parents come to the aid of their children with donations to offer concrete help.

However, when there is the passage of money from one subject to another, great caution must be used. To this end it is not superfluous to suggest to the Readers what to write in the reason for the transfer to the child without the risk of sanctions and controls. Maximum attention in particular for the transfer of cash because the tax authorities could investigate the origin of the same. It is therefore better to understand in the case of donations at Christmas, how much cash can be paid into the account without reporting by the Revenue Agency.

Instead of cash, some prefer to use traceable tools such as checks and wire transfers. But even in this case it is advisable to act with caution so as not to end up in the wheels of fiscal controls. These are in particular the 3 transactions on the current account most at risk of controls by the Revenue Agency. Therefore it could also happen that the good intention of donating financial aid becomes a reason for tax assessments. Much also depends on the consistency of the gifts because it will not be the most modest amounts that will trigger the checks by the tax authorities. According to the consultants, here is how much money can be given to a wife and relatives without a notary and communications to the Revenue Agency.

Here is how much money can be given to a wife and relatives without a notary and communications to the Revenue Agency

Cash donations can alert the tax authorities because they could hide tax evasion attempts. The sums of money deriving from illegal income could be paid into the wife’s account. To avoid ending up in the cauldron of suspicious transactions, it is sufficient to respect the rules relating to the transfer of money. Therefore, if the amount of the donation is high, it is necessary to go to the notary with two witnesses.

However, there is no precise limit beyond which the obligation of a public act is foreseen. But the amount you wish to donate must in any case be proportionate to the economic condition of the person making the donation. According to the provisions of Legislative Decree 356/1990 a 4% tax is applied only in the case of donations exceeding € 1 million. On the contrary, there is no need to draw up a public deed in the presence of a notary if the gift were to be used for the purchase of an asset. For example, if you intend to buy a jewel or a car, the purchase deed will justify the origin of the money.

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