Parental Benefit in Greece
In order to transfer your property to your children, an official contract signed by a notary is required.
The tax scale is as follows and refers to the value of property transferred from each parent to each child:
| Tax scale in € | Scale factor (%) |
|---|---|
| Up 150.000 | - |
| From 150.001 to 300.000 | 1 |
| From 300.001 to 600.000 | 5 |
| Excess | 10 |
In relation to the taxation of real estate property, the objective value is taken into account, which results from the Public Financial Services of Greece on the basis of certain objective evaluative information, such as the area in which the real estate is situated, its size, its age etc. A reduction at the nontaxable limit as listed above is about to come within the next months so if you are planning to give your property to your children, arrange it in the next 2 or 3 months.
Case study
In 2000 a father gives his house to his son. The objective value of the house is calculated 100.000 euros. They paid no taxes for that parental benefit. In 2017 the father wants to give his son a field. The objective value of the field is 15.000 euros. They will pay no taxes because the total amount of the given immovable property is 115.000 euros (100.000 + 15.000), so the scale factor is 0.