On July 1, 2023, the Sejm passed new tax regulations related to inheritances and donations, which will come into force on July 1, 2023. The changes mainly concern the increase of the tax-free amount.
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Inheritance and gift tax. What are the current regulations?
applicable until June 30, 2023 impose the following limits on taxpayers:
- In the first tax group, persons acquiring ownership of things and property rights with a pure value not exceeding PLN 10,434 over a period of 5 years are exempt from tax;
- In the second tax group, persons acquiring ownership of things and property rights with a pure value not exceeding PLN 7,878 over a period of 5 years are exempt from tax;
- In the third tax group, persons acquiring ownership of things and property rights with a pure value not exceeding PLN 5,308 over a period of 5 years are exempt from tax.
Changes in inheritance and gift taxes from July 1, 2023. What should taxpayers expect?
The changes regarding the inheritance and donation tax introduced by the Sejm are crucial. It turns out that the current limits from July 2023 will be raised.
- In the first tax group, persons acquiring ownership of things and property rights with a pure value not exceeding PLN 36,120 per person or PLN 108,360 per person over a period of 5 years will be exempt from tax;
- In the second tax group, persons acquiring ownership of things and property rights with a net value not exceeding PLN 27,090 per person or PLN 81,270 per person over a period of 5 years will be exempt from tax;
- In the third tax group, persons acquiring ownership of things and property rights with a net value not exceeding PLN 18,060 per person or PLN 54,180 per person over a period of 5 years will be exempt from tax.
What tax group are you in? The regulations are very specific about this
The tax group depends on the relationship with the heir or the recipient and the donor. If you don’t know where you are, you can check it below.
- The first group includes: spouses, separated spouses, descendants (for example, children, adopted children, grandchildren, great-grandchildren), ascendants (for example, mothers, fathers, grandparents, grandmothers), siblings, stepchildren, stepfathers, stepmothers, in-laws, and son-in-law and daughter-in-law. Importantly, the above-mentioned persons may benefit from a total tax exemption, provided that they submit information about the acquisition of an inheritance or donation in a timely manner (6 months) to the tax office. The exemption is also available to children from family orphanages and foster families.
- The second group includes: descendants of siblings, i.e. nephews or nephews, siblings of parents (for example, uncles and aunts), descendants and spouses of stepchildren, spouses of siblings, siblings of spouses, spouses of spouses’ siblings and spouses of other descendants.
- The third group includes: people who do not belong to the family (strangers).
Source: Gazeta
Bruce is a talented author and journalist with a passion for entertainment . He currently works as a writer at the 247 News Agency, where he has established himself as a respected voice in the industry.
