Are you subject to tax in France with respect to the IFI (Impôt sur la Fortune Immobilière)?
Support children by making a donation to the AMADE Children’s Fund, a fund under the aegis of the King Baudouin Foundation that supports AMADE programmes.
1. Support the AMADE Children’s Fund with your IFI
To assist children throughout the world, AMADE created the AMADE Children’s Fund, hosted by the King Baudouin Foundation. This fund enables AMADE to generate more revenue and intervene more effectively to help vulnerable children.
If you are taxable in France under the French real estate wealth tax (IFI) and you make a donation to the AMADE Children’s Fund, 75% of your donation can be deducted from your IFI.
Within the framework of the 2018 French Law of Finances, the ISF was repealed and replaced by the IFI (Impôt sur la Fortune Immobilière). The AMADE Children’s Fund hosted by the King Baudouin Foundation is authorised to receive your donations through the IFI.
2. Who is concerned by the IFI and how to declare it?
Unlike the ISF, the IFI relates solely to the real estate wealth held directly or indirectly. It concerns fiscal households whose real estate holdings in France is worth over 1.3 million euros as at 1 January 2023. The 30% reduction on the primary residency is maintained.
Within the framework of the IFI, the fiscal deduction with respect to donations is maintained.
If you liable for the IFI, 75% of the amount of your donation is deductible from your tax up to a limit of 50 000 euros (or the equivalent of a donation of 66 667 euros).
The IFI is declared at the same time as the income tax declaration, on the annex declaration no. 2042-IFI. The declarative terms and conditions nevertheless depend on your situation.
A € 2 000 donation, for instance, would cost you € 500 after fiscal deduction.
3. Deadline to make a donation within the framework of the IFI 2023
The deadline for the IFI declaration depends on your place of residence and the mode of declaration that you choose. For the year 2023, here is the calendar:
• Thursday 25 May 2023 at 23:59 for departments 01 to 19 and non-residents
• Thursday 1 June 2023 at 23:59 for departments 20 to 54 (including 2A and 2B)
• Thursday 8 June 2023 at 23:59 for departments 55 to 974/976
If you have any questions, please contact Nolwenn Poupon, head of development and advocacy, on +377 97 70 52 60 (firstname.lastname@example.org)
4. What happens after your IFI donation?
Once you have made a donation to the AMADE Children’s Fund, you will receive a tax receipt from the King Baudouin Foundation including the amount of your donation. You must conserve this receipt, it will be used to fill out your tax declaration on real estate wealth to the French tax authorities.