IFI: TRANSMIT ITS PROPERTIES TO ITS SMALL CHILDREN
With the IFI, the authorities are refocusing the ISF on real estate. This is an opportunity to reflect on the usefulness of its real estate heritage and, why not, to redirect it to assets now exempt.
One of the most effective ways to reduce IFI real estate assets is to make donations to children and grandchildren. This strategy will be effective the following year, as the value of the taxable assets will be frozen as of January 1st.
The donation of a property to his descendants will be taxed after a deduction of 100,000 euros per child and 31,865 euros per grandchild. A couple can thus transmit up to 327,460 euros to a child and two grandchildren, free of tax duties. The surplus will be taxed according to the applicable online rates and the transaction may be renewed every 15 years.
The usufructuary declares the total value of the property to the IFI
To take a good out of the plate of the IFI, it must be given freehold. In fact, those encumbered with a usufruct remain taxable in full at the usufructuary. The reform can therefore be an opportunity to give the usufruct of a building, the bare ownership of which has already been transmitted at least 15 years ago. The donation will be taxed, after abatement, on the sole value of the usufruct, according to the age of the donor.
To note : Any donation is possible through a "transgenerational" donation-sharing, which definitely benefits both children and grandchildren.
The temporary donation of usufruct
This technique is very effective to temporarily reduce its IFI. It consists in giving for a few years (generally from 3 to 10 years) only the usufruct of a building of report. Therefore, the good comes out of the taxable patrimony of the bare owner and becomes, during the period of the dismemberment, totally taxable in the name of the usufructuary.
It also helps his child (or grandchild), who cashes in the income, while reducing income tax and social security contributions. Such a donation is taxed at a flat rate of 23% of the value of the property, per 10-year period.
Give the property to an SCI
Rather than being separated from a building, it can be interesting to refinance it by assigning it to a family SCI. The company borrows to finance the acquisition and repays the loan with the rents collected, thereby reducing the value of taxable shares in the IFI. In addition, this refinancing makes it possible to release cash that can be passed on to children or grandchildren.
The notary is obligatory
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