Family tax-free limit on the way to being abolished
23.03.2012
22:10
The carrying out of a separate liquidation of property tax for each spouse, which is being promoted by the Finance ministry, is of concern to thousands of households in terms of the possible future abolition of the family tax-free limit they deserve.
The carrying out of a separate liquidation of property tax for each
spouse, which is being promoted by the Finance ministry, is of concern
to thousands of households in terms of the possible future abolition of
the family tax-free limit they deserve.
The relevant provision that is up for a vote in parliament states that from 2010 onwards, the statement of property tax will be issued separately for each liable person. The law will no longer provide for an issuing of a common FAP (property tax) statement by the spouses.
In reality, today FAP is calculated from the objective value of 400,000 euros to each spouse individually and not as a family. So if one spouse has a property of 500,000 euros and the other of 200,000 euros, tax is calculated only for the first and only for 100,000 from the 500,000. However, the statement issued so far had been a single one for both spouses, while now they will receive two different ones.
Therefore, married couples not only will not lose the tax-free limit they are currently entitled to, but they also benefit as well because the amount of 27 euros below which they are not paying any tax gets doubled. That is, if a statement today called for both spouses to pay e.g. from 25 euros each, now they will not pay anything because they are exempted for the first 27 euros of tax, and both for a total of 54 euros.
Therefore, there is an issue only if the system of a separate tax clearance and income tax eventually gets expanded, where there are different limits for singles and for married couples.
Officials of the Finance ministry asked by protothema.gr are reassuring, stating that the elimination of the tax-free limit for families is not in their plans. They argue that a separation in the register of taxpayers is technically necessary because of problems and mistakes that have been caused by the current system and have led to delays of up to 3 years in the sending and receiving of clearances.
The relevant provision that is up for a vote in parliament states that from 2010 onwards, the statement of property tax will be issued separately for each liable person. The law will no longer provide for an issuing of a common FAP (property tax) statement by the spouses.
In reality, today FAP is calculated from the objective value of 400,000 euros to each spouse individually and not as a family. So if one spouse has a property of 500,000 euros and the other of 200,000 euros, tax is calculated only for the first and only for 100,000 from the 500,000. However, the statement issued so far had been a single one for both spouses, while now they will receive two different ones.
Therefore, married couples not only will not lose the tax-free limit they are currently entitled to, but they also benefit as well because the amount of 27 euros below which they are not paying any tax gets doubled. That is, if a statement today called for both spouses to pay e.g. from 25 euros each, now they will not pay anything because they are exempted for the first 27 euros of tax, and both for a total of 54 euros.
Therefore, there is an issue only if the system of a separate tax clearance and income tax eventually gets expanded, where there are different limits for singles and for married couples.
Officials of the Finance ministry asked by protothema.gr are reassuring, stating that the elimination of the tax-free limit for families is not in their plans. They argue that a separation in the register of taxpayers is technically necessary because of problems and mistakes that have been caused by the current system and have led to delays of up to 3 years in the sending and receiving of clearances.
However, the economic team knows that many large owners are distributing their property to family members so as not to exceed the individual property limit, and are hiding behind them.
Ακολουθήστε το protothema.gr στο Google News και μάθετε πρώτοι όλες τις ειδήσεις
Δείτε όλες τις τελευταίες Ειδήσεις από την Ελλάδα και τον Κόσμο, τη στιγμή που συμβαίνουν, στο Protothema.gr
Δείτε όλες τις τελευταίες Ειδήσεις από την Ελλάδα και τον Κόσμο, τη στιγμή που συμβαίνουν, στο Protothema.gr