A young person to whom part of a house has been donated is excluded from the IMT and Stamp Duty exemption even if the donation is cancelled, according to the Tax and Customs Authority (AT).
The entry into force of the measure granting a total or partial exemption from IMT and Stamp Duty on the purchase of a first home by people up to the age of 35 has led many taxpayers to ask the AT whether or not they are entitled to this tax benefit.
The situations that reach the tax authorities, through requests for binding information, report the most varied situations, the details of which dictate whether or not they meet the conditions imposed to benefit from the tax exemption. An example of this is the denial of access to property classified as residential, even if it is in ruins, while beneficiaries of an undivided inheritance with residential homes can benefit from the measure.
What does the AT say when a young person receives part of a house as a donation?
The new binding information recently published by the AT concerns a family whose 25-year-old daughter received as a donation, in April 2024, "25% of an old, low-value two-storey house" which, according to the information sent by the taxpayers, "has never been and will never be her permanent home".
In light of this scenario, the family is asking the AT whether, by cancelling the donation, the daughter can benefit from an exemption from IMT and Stamp Duty on the purchase of her own permanent home in Lisbon worth 448 thousand euros.
The AT, however, stresses that "the ownership of the property right to an urban residential building" of the young woman in question by donation "made by her mother approximately five months ago, constitutes [according to the rules of the measure] grounds for exclusion from the exemption".
Furthermore, the tax authorities add that "the revocation by mutual agreement of the donation contract, by projecting its effects into the future, does not allow for the waiver" of the conditions required to benefit from the exemption. It should be noted that the measure excludes taxpayers who are "holders of property rights, or partial rights of such rights, over urban residential property, on the date of transfer or at any time in the previous three years". The exemption from IMT and Stamp Duty was approved by the Council of Ministers at the end of May and came into force in August. According to data provided on Wednesday by the Minister of Finance during a hearing in parliament, between August and December 2024, a tax exemption from IMT and Stamp Duty worth 62 million euros was granted to around 16 thousand beneficiaries. The exemption was therefore around 4,000 euros per taxpayer. On average, the minister said, the value of houses purchased with full or partial exemption from IMT and Stamp Duty is around 187 thousand euros.
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Source: Lusa / Idealista
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