The common current account in the objective of the tax authorities: let’s be clear

The joint current account is subject to verification by the tax authorities. Who is really the money? Are the applicable taxes correct? Let’s solve the doubts.

Spouses, relatives and members of the company can open a joint account. What are the rules to follow so as not to risk penalties from the tax authorities?

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over there Shared address Provides for the signing of a contract between Many interested parties A credit institution. The ownership percentage is up to 50% for each owner and each owner must make payments to the joint account so as not to risk being Under scrutiny del Fisco to determine who really owns the money. The account is formatted to allow joint management of expenses and savings. Each account holder has the right to make individual operations A bank and each holder is considered as debtor or creditor by reference to the balance of the account. However, certain details may lead to audits by the revenue agency to the point that a Supreme Court reversal changes the configuration of the checking account.

Current account and postal book, watch the movements: there is a limit not to cross

Joint Current Account, Headquarters

To understand the changes implemented by the Supreme Court, it is necessary to begin with a review of the features of the Common Current Account. There are different types of joint accounts. There are these for separate signature This allows each holder to work separately and in the same way I signed up The presence of all current account holders is required to carry out the operation. A third classification is born from the union of the first. In this case, holders specify which operations must be carried out with a separate signature and which operations have a co-signature.

Blocking of the current account: the reasons for the bad surprise

All joint accounts are subject to civil right With articles 1298 and 1954. The law defines the characteristics of accounts and regulates more private aspects such as the transfer of funds between their holders in case of death One of them, the consequences Divorce or imprisonment. Situations that have arisen over the years have led the Supreme Court to strike down the accounts’ joint accounting parameters.

Itinerary to discover

Joint current account, the wording indicates that the money in the account is in common ownership between owners. The thought was correct until the Supreme Court overturned the directive by order of the Last September 22, 2021. The change was necessary after the revenue agency verified the couple’s joint account. According to the agency, the money that the wife pays in and then withdraws must be taxed on the head of the initiating spouse.

Joint account: the operation that cannot be performed at all

The reason lies in the fact that the amount was not a donation to the partner of 50% of the total just for a joint account. When the source is only confirmed on one side, it is necessary Shares are subject to personal income tax. The fact that the current account is attached does not lead to lower taxes. The Supreme Court agreed with the tax authorities that whoever pays the money owns it, while membership belongs to whoever uses it to cover expenses and make withdrawals. This is all to point out how the amounts are subject to personal income tax as they accumulate with taxable income.

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