I have recently had a few household problems that have needed fixing, and my parents have kindly offered to pay for the work to be done. The plan is to do an international bank transfer to send money from their account in the UK, to my account in the Netherlands.

My query is how much am I allowed to receive as a gift, before I have to declare this?

Thanks for any help!

I found this on www.belastingdienst.nl

"Uw kinderen hoeven pas belasting over een schenking te betalen als de waarde van de schenking boven een bepaalde vrijstelling uitkomt. De vrijstelling voor een schenking is per kalenderjaar € 4.412. Maar als uw kind tussen de 18 en 35 jaar is, wordt die vrijstelling eenmalig verhoogd tot € 22.048."

Now I wonder whether that is what applies to me, or is my Dutch well off? Does that mean that I can receive 4412 per year, or as I'm between 18-35 I can receive a one off payment of upto 22k?

From my understanding... your children are allowed a one off payment per year of €4.412 but if your child is between 18 and 35 then the one off payment is raised to €22.048.

I'd like to know what the one off payment per year is if your over 35.

It would seem from the below from the ministry of finance web sight, you are not subject to Dutch tax at all as your parents are UK residents.

Gift tax
Gift tax is a tax levied on the value of anything received by way of a gift from an individual resident in the Netherlands. The rates equal those applicable to Inheritance tax.
Again, some amounts are exempt from gift tax. They include not only exemptions for gifts made by parents to children but may also cover other cases. As in the case of inheritance tax, exemption is subject to further conditions in a number of cases.

http://www.minfin.nl/en/subjects,taxation/...ands/Taxes.html

Geez! You're going to spend that money, right? So.......



quote name='cannewyork' date='Apr 13 2008, 09:46 AM' post='771757']
It would seem from the below from the ministry of finance web sight, you are not subject to Dutch tax at all as your parents are UK residents.

Gift tax
Gift tax is a tax levied on the value of anything received by way of a gift from an individual resident in the Netherlands. The rates equal those applicable to Inheritance tax.
Again, some amounts are exempt from gift tax. They include not only exemptions for gifts made by parents to children but may also cover other cases. As in the case of inheritance tax, exemption is subject to further conditions in a number of cases.

http://www.minfin.nl/en/subjects,taxation/...ands/Taxes.html
[/quote]