Bad surprises for those who have a joint bank account and carry out these operations

Bad surprises for those who have a joint bank account and carry out these operations
Bad surprises for those who have a joint bank account and carry out these operations

A very common practice among spouses is to have a joint account for a variety of reasons. For example, it may happen that one of the spouses uses it to return undeclared income and to lower their personal income tax bracket. However, the tax authorities could initiate investigations that end with bitter surprises. That’s why you need to be careful not to make this mistake when making a wire transfer between relatives. Furthermore, according to various relevant jurisprudential rulings, paying money into a joint bank account does not mean transferring ownership. The same, or rather, the credit right is, and remains, of the person who paid the money. As written in the article “There is an incredible earthquake for the money on the joint account because everything changes when you share securities and stocks with other people”.

However, it is not always convenient to have the account jointly in the name of the spouse, especially when peace no longer reigns between the two. Here come nasty surprises for those who have a joint bank account and carry out these operations. This is pointed out by a very recent order of the Court of Cassation, just a few days ago. That is, the Supreme Court has expressed itself on an appeal presented by the co-holder of the account against the Revenue Agency, against a sentence of the Regional Tax Commission.

Bad surprises for those who have a joint bank account and carry out these operations

The story arose following a payment by the wife to the joint account and the consequent appropriation, by withdrawal by the husband. The latter following a judicial request from his wife was sentenced to restitution and compensation for damages against the woman. This was also followed by an assessment by the Inland Revenue, for failure to pay personal income tax on that amount.

The Court of Cassation called to rule on the sentence of the Regional Tax Commission, has pointed out two fundamental things.

First of all, as far as income is concerned, the proceeds deriving from unlawful acts are subject to taxation. This is in the event that the perpetrator of the offense has been sentenced to restitution, or if he intended not to keep them in his own assets.

Furthermore, a fundamental point to keep in mind is that the money paid by a spouse to the joint account with the other, does not integrate a donation. In particular, it can qualify as an indirect donation, only if the spirit of giving is evoked, in the jargon the animus donandi. Therefore, the mere payment to a joint account does not absolutely integrate the desire to donate a share to the other account holder.

Deepening

Current account this is what happens when the only holder dies. Does it close automatically?

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