A deed of gift is a contract by which the parties arrange the situation where one party gives the other party certain property, and the other party accepts this property.
Pursuant to Slovenian law deed of gift must be concluded in writing or the gift must actually be delivered.
It is common practice that deed of gift, the contract by which ownership of the real estate is transferred, also contains a land registry permit. In this case, the donor’s signature on the deed of gift must be notarized. If the deed of gift does not contain a land registry permit, it is necessary to compile and attach it separately. In this case, the signature on the land registry permit must be notarized (if the land registry permit is not part of the deed of gift, the signature on the gift contract does not need to be certified).
What about a tax-deductible gift?
According to the Inheritance and Gift Tax Act, a tax-exempt gift is a gift received by the donor’s heir in the first line of succession (i.e. descendants and spouse) or the donee who is equal to the heir in the first line of succession (i.e. son-in-law, daughter-in-law, stepson and heir or the donee who lived with the testator or the donor in a registered same-sex partnership).
All other donees (natural persons) pay tax according to the order of inheritance, according to the progressive scale specified in Article 8 of the Law on Inheritance and Gift Tax.
A taxpayer who receives a gift of property on which tax is payable must declare the receipt of the gift on a form within 15 days of the tax liability arising at the financial office where it is entered in the tax register.
- Declaration for the assessment of tax on a received gift (form)
- Declaration for the assesment of tay on a received gift (sample)
When is it possible to revoke the deed of gift?
There is no time limit for revocation of gift pursuant to Slovenian law, which means that the deed of gift can be revoked at any time. However, it is important to know that the donor must revoke within one year from the day he learned of the reason for the revocation of gift.
The parties cannot stipulate that the donor waives his right to revoke the deed of gift. Any such provision is void.
The deed of gift can be revoked for reasons provided for by law or for reasons that the parties have already specified in the deed.
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