Gold taxation

Can you give away your gold ?

You own gold bars or coins and you want to share them with your family ? You can give your gold during your lifetime or upon your death, through inheritance. In all cases, the general tax code governs gold exchanges. Find out in these lines how to give away your gold!

TRANSMIT YOUR GOLD BY USED DONATION ?

Your will includes a fair separation of your investment coins and your bars ? In this case, it is essential to go through a notarial deed for inheritance. In fact, you will obtain proof allowing you to resell the gold, if you do not want to keep it, while benefiting from a deduction. Furthermore, the transmission of gold upon death is subject to the same rules as for any inheritance. You benefit from the following reductions:

  • Between spouses or civil partners: total tax exemption;
  • Children: 100,000 EUR reduction;
  • The grandchildren benefit from 31,865 euros;
  • Disabled people: additional 159,325 euros.

WHAT TAX TO GIVE AWAY YOUR GOLD ?

The general tax code provides for all the different cases of gold donations. In addition to the reductions linked to family ties, the law has established a tax scale. These rates apply beyond the amounts reduced, for example:

  • A child receives 103,000 euros of lgold ingots: after deduction of the 100,000 euros, the direct heir must pay 5% tax on the 3,000 euros extra;
  • A grandchild obtains the equivalent of 50,000 euros in gold: after deduction of 31,865, the direct heir grandchild must then pay 20% tax on the 18,135 euros not deducted. t2>

The different tax rates range between 5 and 60% depending on the degree of relationship. 

At Gold Union, our agents know the regulations in force and can support you in all your procedures. Make an appointment now at the nearest agency or ask our experts for advice via our e-commerce site. Purchase, sale or storage, Gold Union professionals answer all your questions!