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V4734-16 8 November 2016 · SG de Impuestos Patrimoniales, Tasas y Precios Públicos Criterion in force
ISD · donación

Depositing private funds into a joint account does not constitute a gift if there is no intent to donate

A taxpayer sought clarification on whether depositing compensation into a joint account held with a domestic partner would trigger Inheritance and Gift Tax. The DGT ruled that joint ownership only grants access to funds but does not transfer ownership unless the legal requirements for a gift are met.

The question raised

Whether the act of depositing the compensation into an account with both holders entails the accrual of Inheritance and Gift Tax as a donation, and whether this could be avoided by depositing it into an account held by the applicant in which their partner was an authorized user. If so, it is inquired whether the returns generated by the said compensation must be imputed in equal halves to the two joint holders of the joint bank account.

The DGT's ruling

The deposit of separate funds into a jointly held account does not necessarily imply a donation if three requirements are not met: a dispositive act with the intent to be liberal, acceptance by the donee, and knowledge of said acceptance by the donor. Joint ownership only means that any of the holders has dispositive powers towards the bank, but not that all are owners of the funds. Therefore, if there is no intention to transfer ownership, no tax accrual occurs and the returns must be declared by the exclusive owner in the Personal Income Tax (IRPF).

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