Decrease in property gift tax in Wallonia
Giving property as a gift in Wallonia may be more advantageous as of 1 September 2018. Two measures are now in force, with a decrease in gift tax and an additional incentive for people who carry out energy savings works.
Decrease in gift tax
The Walloon Region has lowered the property gift tax. Here are the new rates:
|
Bracket |
Gift to someone in direct lineage and between partners |
Gift to a third party |
|
€0 - €150,000 |
3% |
10% |
|
€150,001 - €250,000 |
9% |
20% |
|
€250,001 - €450,000 |
18% |
30% |
|
> €450,000 |
27% |
40% |
The tax rates in the Walloon Region are now identical to those in force in Flanders and in the Brussels-Capital Region. However, there is a significant difference: in Flanders, de facto partners who have lived together for more than one year are equal to legal cohabitants and spouses. This is not the case in Brussels and Wallonia.
Reimbursement of fees in the case of energy savings measures
If the beneficiary carries out energy savings works, it is possible for him or her to get back part of the amount. The reimbursement amounts to 25% of the amount of the works (VAT included), with an absolute maximum of €2,500.
Several conditions must be met:
- The request must be mentioned in the deed of gift or in an annexe.
- The beneficiary of the gift must move into the building (main residence) within one year (following the gift). He or she must live there continuously for three years.
- The recipient must carry out and pay for the energy savings works in the dwelling during the first three years following the gift. In Flanders, this may also be carried out by the donor.
- He or she must provide a statement indicating that the conditions have been met.
- The reimbursement may be requested at the latest six months after the abovementioned three-year period.
No more preferential tax rate for the family home
The preferential tax rate in force for a gift of the family home (main residence) no longer exists.
Discover here what NN can do.
