No.15004 Exemption for spouse when residential property is donated between husband and wife
1 Overview of special provision
The special provision allows a donee to deduct an amount of up to 20 million yen (exemption for spouse) as well as the amount of basic exemption of 1.1 million yen by filing a gift tax return, when residential property or money for acquiring residential property is donated between husband and wife whose period of marriage has been 20 years or more.
2 Application requirements for the special provision
| (1) | The asset is donated between husband and wife after their marriage period has exceeded 20 years. | ||||
| (2) | The asset donated from the spouse is a residential property or money used for acquiring a residential property. | ||||
| (3) | As of March 15 of the following year upon receiving the donation, the recipient of the donation actually lives and will continue to live in the residential property that was acquired by donation or acquired by use of donated money. | ||||
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3 Application procedure for the special provision
It is necessary to file a gift tax return attached with the following documents:
| (1) | A transcript or extract of the family register issued after 10 days have passed since the date of receiving the donation. |
| (2) | A copy of the supplementary family register issued after 10 days have passed since the date of receiving the donation. |
| (3) | Certificate of registered information of residential property or other documents that certify that the recipient has acquired a residential property.
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We ask the recipient to submit documents such as an evaluation statement, etc. evaluating the residential property in addition to the above documents, if the recipient has received the residential property, not money.
[For those who need certificate of registered information (Notice from the Legal Affairs Bureau)]
You can request for a certificate of registered information of land and buildings at the counter of the registry office, by post, or online from a personal computer at your own home or office.
For details on the procedures for requesting certificates of registered information online, please visit the Legal Affairs Bureau website.
- Consultation service for national tax is available at the Phone Consultation Center of the Regional Taxation Bureaus. Please take a look at "IF YOU NEED FURTHER INFORMATION, PLEASE CONTACT" and try the phone consultation service.
