Kids having rich parents - residin in spain - what taxes for them?
#1
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Kids having rich parents - residin in spain - what taxes for them?
how about those kids, who have rich parents - and they send them money every month for example (enough for rent and for food... how that apply then - if somebody like that lets say from Canada would moved to Spain and got residency - would they be obliged to pay any taxes from "gifts" from their parents? (I know there is some limit in the USA - about 12000$ for one year for one person from one person... but how about Spain??
#2
Re: Kids having rich parents - residin in spain - what taxes for them?
how about those kids, who have rich parents - and they send them money every month for example (enough for rent and for food... how that apply then - if somebody like that lets say from Canada would moved to Spain and got residency - would they be obliged to pay any taxes from "gifts" from their parents? (I know there is some limit in the USA - about 12000$ for one year for one person from one person... but how about Spain??
the best thing would be to contact the Spanish Consulate in Canada to see which visa (if any) would apply
#3
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Re: Kids having rich parents - residin in spain - what taxes for them?
ok, I understand, that was not good example... lets say british instead of canucks?
#4
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Re: Kids having rich parents - residin in spain - what taxes for them?
well if they had their head on right then the rent and bills would be paid direct by the parents and they would give them a UK debit/credit card to take money out of bank ....result ... no income in spain as they are not ´working´ here so i can see anyone even bothering to care ....lot easier to tax a brit who is renting an apartment illegally then a 20 year iold in the discos ....
#5
Re: Kids having rich parents - residin in spain - what taxes for them?
well if they had their head on right then the rent and bills would be paid direct by the parents and they would give them a UK debit/credit card to take money out of bank ....result ... no income in spain as they are not ´working´ here so i can see anyone even bothering to care ....lot easier to tax a brit who is renting an apartment illegally then a 20 year iold in the discos ....
Last edited by lynnxa; Jul 10th 2012 at 7:22 pm.
#6
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Re: Kids having rich parents - residin in spain - what taxes for them?
how about those kids, who have rich parents - and they send them money every month for example (enough for rent and for food... how that apply then - if somebody like that lets say from Canada would moved to Spain and got residency - would they be obliged to pay any taxes from "gifts" from their parents? (I know there is some limit in the USA - about 12000$ for one year for one person from one person... but how about Spain??
#7
Re: Kids having rich parents - residin in spain - what taxes for them?
If they were resident in Spain any money given to them could be treated as a gift and taxed just the same as an inheritance.
The only difference is that there is no allowance against gifts at the national level.
That said it might be very difficult for the taxman to pick up on this but there is a risk they might if it went on for some time and was a significant amount.
The only difference is that there is no allowance against gifts at the national level.
That said it might be very difficult for the taxman to pick up on this but there is a risk they might if it went on for some time and was a significant amount.
#8
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Re: Kids having rich parents - residin in spain - what taxes for them?
If they were resident in Spain any money given to them could be treated as a gift and taxed just the same as an inheritance.
The only difference is that there is no allowance against gifts at the national level.
That said it might be very difficult for the taxman to pick up on this but there is a risk they might if it went on for some time and was a significant amount.
The only difference is that there is no allowance against gifts at the national level.
That said it might be very difficult for the taxman to pick up on this but there is a risk they might if it went on for some time and was a significant amount.