The accumulation of uninvested money on a current account is likely to have dire consequences. But there are cases of exemption from stamp duty.
Never before has the theme of money been relevant. Not that it wasn’t before but, given the situation linked to the pandemic, the limit between saving and spending has become very important to keep an eye on. Especially for those who inadvertently exceed the stock limit below which specific costs are saved, such as stamp duty. The threshold remains that of 5 thousand euros, valid both for the normal current account and for other savings instruments, such as postal books. This is a tax applied equal to 34.20 euros for individuals and 100 euros for companies. Nothing that is not known but something that is very often forgotten.
Especially in a historical moment like this, the saving trend has gradually intensified. So much so that, in 2021, Italy reached record levels of current account balances, such as to worry the various credit institutions. Not so much for the consequences associated with too large an accumulation, as for the unavoidable management costs for too high and unsuccessful amounts. For this reason, on several occasions, it has been advised to move savings onto even simple investment instruments (such as postal bonds), capable of guaranteeing an income and preventing the money from causing dangerous effects of stagnation.
Current account, when stamp duty is not applied
If the trend does not change, 2022 risks being a topical year on the tax front. Certainly not good news when you consider that practically every area of daily life has faced heavy increases. Not even the stamp on the deposit account was an exception: the tax on the amount of individuals, in fact, went from 1.5 to 2 per thousand of the invested sum. A painting that, at least in theory, it should discourage savers from giving in to the temptation to immobilize one’s money in order to have greater liquidity in case the situation worsens. Also because, given the application of additional costs, it is clear that things are not exactly like this. And the stamp duty adopted in 2012 by the Monti government continues to weigh on both bank statements and savings book statements. And also on some financial products.
The stamp duty, therefore, is paid in the event that the stocks on the various money management products end up exceeding a certain threshold. Clearly, in the event that these conditions do not arise, the tax would not be applied. Compliance with the limit threshold however, this is not the only condition to avoid the setback (at the end of the year). In fact, the tax does not apply either in the case of relationships between managing bodies and trust companies or to non-profit organizations with an associative character.
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Confidi are therefore excluded from the 34.20 euros but not the fees charged on instruments such as checks, bank receipts and contracts. It should be remembered that the calculation of the value of the stock is obtained by adding the daily balances of the current account and dividing everything by the reporting days. The only cases of exemption concern account statements and booklets with a balance of zero or in any case below 5 thousand euros. Or in case of exclusion of the owner from both bank and postal expenses, as with Isee below 7,500 euros.
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