In the context of marriage, children education and support constitute paramount pillars of familiar cohabitation. These duties cover the marriage or the eventual separation and divorce. Subsequently, children wellbeing is legal priority for Italian Family Law.
Child support takes place when both spouses decided to terminate their cohabitation through a consensual or non-consensual separation. In this event, spouses can decide to open a joint account to the benefit of the child with the purpose of helping in his wellbeing. In this last case, parents is not asked to pay the infamous gift tax which any donation is subject of.
Gift tax exemption has been confirmed by the Italian Revenue Agency. In fact, in the event spouses open a joint account to the benefit of their child, this is not considered as indirect donation; which is normally subject to gift tax. The Italian donation is characterised by following elements:
· The awareness of providing an economic advantage without any legal obligation;
· Donee’s enrichment and contextual donor’s impoverishment
These requirements do not apply in the present case. In fact, parents are providing an economic advantage that also constitutes legal obligation (child maintenance). In addition the joint signing bank account regime prevents to consider the money in the account as a donation