Lowering the average balance of money in the current account to avoid having to pay the property tax is possible without bothering the tax authorities. Let’s see how to proceed legally.
The property tax must be paid by exceeding a pre-established threshold on the current account. Is it possible to avoid paying the tax to save 34.20 euros per year?
the cup, necessary for the State but a heavy burden for citizens who have to pay more or less expensive amounts monthly, quarterly or annually. People’s wallets are perpetually open to pay for groceries, bills, the fuel, basic necessities, the Rai license fee, car insurance and it could go on for many more lines. Addressing all these outputs between the general price increases is not easy and being able to save even a few euros it would be a great achievement. In fact, by adding up small savings, a significant gain could be obtained. Hence the importance of knowing what is the legal way to be able to lower the average stock on the current account and avoid paying 34.20 euros per year of property tax.
Average inventory and asset tax, what to know
If the average annual balance on the current account exceeds a certain threshold, the property tax is triggered, a stamp duty of € 34.20. The insuperable limit is 5,000 euros, a liquidity present on many taxpayers’ accounts but not everyone knows how to manage it to avoid paying the tax. The goal is to have an average stock of less than 5,000 euros at the end of the year.
The idea could be that of continually withdraw cash to stay below the threshold but this trick would only work for those who slightly exceed the limit and, therefore, need to small withdrawals with which it is possible to pay for the shopping, a purchase of a not excessive amount (remember that cash payments cannot exceed € 1,999.99 in 2022, a figure that will drop to 999.99 euros in 2023) or a bill. If the amount on the current account, on the other hand, is excessively higher at 5 thousand euros it is not possible to proceed with continuous withdrawals since the withdrawal of large sums worries the tax authorities and triggers checks in order to combat tax evasion.
The solutions to be evaluated
For figures considerably higher than 5 thousand euros it is advisable invest the excess amounts. In this way it will be possible to avoid paying the property tax by keeping the average stock below the limit threshold. The choice can fall on several low-risk products that do not promise great returns. We mention, for example, Postal Interest Bills or Multi-year Treasury Bills. Excellent opportunity, then, are deposit accounts which provide for remuneration at the end of the expiry of the contract. The advantage of this choice is the possibility of opting for a money deposit without time constraints so that you can have access to your savings at any time.
Finally, risk lovers can take a gamble higher earning speculations but only under certain conditions. It will be necessary to know the financial markets, to know read the trends of securities and shares, identify the most suitable investment instruments and, if you wish to practice trading online, you will need to choose the most reliable platforms such as Plus500 or eToro.
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