With funds set production year of the recipient of the funds required to retain the integrity of the process
[Ministry of Finance Division had reviewed two chief]
Yearly cash gift to parents of minor children, although obtain IRS gift tax exemption certificate issued, except when the minor children, according to the purchase of houses, land or invest in stocks and other assets, the funds still make the process complete, or even exemption certificate holders, gift tax will be levied.
Southern IRS said recently discovered Huang Chun (under 20 years) increased in 97 years under the name of houses, Building B, on behalf of the Department in order to register the sale made through a letter to the mother Huang (Huang Chun's legal representative) of the source of funding homebuyers Huang parent advocate 92-96 year grant one million yuan each year to Huang Jun, the money has been declared yearly gift tax, and provide tax exemption certificate for nuclear. Further verification by the IRS, yellow mother gift tax returns each year, the gift is about to deposit their children out of him by the collar, yellow mother due to inability to complete the proposed funding process to prove the source of funds for homebuyers gift of money over the years, the tax authority then regarded as the legal representative of the gift in accordance with estate and gift tax law Article 5, paragraph 5, yellow mother gift tax levied.
Bureau reminded the public, according to the estate and gift tax law Article 5, paragraph 5, "with limited capacity or incapacitated person to purchase the property, the legal representative or guardian regarded as a gift, but the amount paid can prove belong to buy one owner, unless. "Therefore, minor children with donated funds to purchase the property, should remain intact flow of funds to prove its source of funds is really all to nuclear lesson from gift tax collection authority.
