Legal separation, divorce or dissolution of a partner brings a change in family status and consequently influences the tax time.
This article will detail the changes and the tax implications involved.
Who can apply the minimum deduction of offspring?
are two possible cases regarding deductions by descendant:
- This deduction may apply dependent spouse from whom the financial support and according to what has been provided in the ruling.
- If the court establishes that the financial support of the offspring belongs to both spouses, each may deduct 50%. Both
taxed annuities that pay maintenance for children?
If one spouse is required by court to pay child support for their children, are entitled to an additional deduction of 15% of the amounts payable on this account, not to exceed 30% of the deduction descendants. How
taxed spousal who pays for the spouse? In
divorce the judge sets an annual alimony and for support in favor of the other spouse, the partner that meets these quantities may apply a reduction in the overall tax base the tax declaration. If it reached zero, the remaining amount may be reduced savings tax base.
is worth noting that only annuities can be included for the other spouse, not assigned to the children. How
taxed the pensions compensation perceived?
- compensatory pensions for children are exempt from income tax.
- compensatory pensions receive one of the spouses have consideration for performance work and become part of the general tax base and should be taxed on the marginal rate.
What about deductions for primary residence?
If the judge states that the spouse who no longer reside in the family home have to continue to contribute to the financing of it, it may still be inferred by the concept of purchasing and renting the residence, provided that such amounts not paid in the concept of alimony.
The spouse continues to reside in the dwelling can continue deducting it as you did before separation.
What about the distribution of goods?
The dissolution of the matrimonial assets involving two taxes: Capital gains
If by court order establishing the award of property to one spouse or the dissolution of the conjugal partnership will not result in any goodwill or impairment in the income tax and not have to pay tax on this tax, but keep the purchase price and seniority in the event of further transmission.
Likewise, it is not taxable on the increased value of urban land, but does not break the period of generation of future value. Tax
Heritage Transmission
On the other hand, the solution itself that is subject to transfer tax and stamp duty Heritage (ITP / AJD). If the solution is consistent with the participation fee and 50% comes from the amount of community property is subject to stamp duty, but exempt from tax.
But if one spouse receives more than 50%, will be taxed by the ITP / AJD transmission of the party exceed half if there is monetary compensation in case of cancellation, will be taxed by the estate and gift tax
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