I have a question on property transfer tax in Austria. My parents live in Austria. My mom is Austrian citizen and dad is foreign citizen with Austrian permanent residence status. My mom has terminal cancer and could pass away in a few months. My parents have joint ownership of an apartment and my mom has sole ownership of another apartment. What is the most tax effective way to transfer the properties in the event of my mom's death? Thanks for any advice!
Property transfer tax upon death in Austria
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I have a question on property transfer tax in Austria. My parents live in Austria. My mom is Austrian citizen and dad is foreign citizen with Austrian permanent residence status. My mom has terminal cancer and could pass away in a few months. My parents have joint ownership of an apartment and my mom has sole ownership of another apartment. What is the most tax effective way to transfer the properties in the event of my mom's death? Thanks for any advice!
-@monthschapel0k
I really have no idea, I would contact a lawyer.
2
Hi!
This depends on the property value (=Grundstückswert).
The tax for the ‚first‘ 250.000 Euro is 0,5 %
for the next 150.000 Euro 2 %
and furthermore 3,5 %
source: https://www.bmf.gv.at/themen/steuern/im … rsatz.html
it is ‚unentgeltlicher Erwerb‘
but this is only the property tax. For the registration in the land register you need to pay extra 1,1% of another value (but it's usually very low).
the notary/court commissioner (which will do the legal stuff after the death) can do the tax matters and registration in the land register. You can also seek a lawyer (sometimes lawyers offer free a first free consultation).
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