Everyone is entitled to a general tax credit (EUR 2,001 in 2013) and may be additionally entitled to other credits. The employed person's tax credit is age and income-related (maximum EUR 1,723 in 2013); the single parent's tax credit (EUR 947 plus a maximum EUR 1,319 under additional conditions). The general tax credit comprises an income and social security element (to which you are only entitled if you have compulsory Dutch social security coverage). Your employer will take these into account when deducting wage withholding tax but not any other personal circumstances. You claim other allowances and potential refunds when you file your tax return or request a provisional refund.
Partners
Where possible, partners are taxed individually but, when only one partner works, the other partner is generally entitled to a refund of general tax credit and deductible expenditure can be apportioned to take advantage of tax credits. Under certain conditions, unmarried couples may qualify as tax partners also, for example if they have a child or own a home together. Details are listed on www.belastingdienst.nl.
30 percent ruling
This is a tax incentive for employees, recruited from abroad who bring specific skills to the Netherlands. It acknowledges the additional expenses incurred by expats (extraterritorial costs) by allowing the employer to grant a tax-free lump sum to cover these costs up to a maximum of 30 percent of the sum of wages and allowances. Applications (completed by both employer and employee) should be made to the Belastingdienst Limburg Kantoor Buitenland in Heerlen. The conditions for qualifying for the 30 percent ruling were changed as of 2012 to be more relevant to the intended focus group.
Mortgages and tax implications
When arranging a mortgage it is important to look at the whole picture: interest, cost of life insurance, savings plan and investment accounts. If you are intending to sub-let, you may need to pay off a substantial part (say 30 percent) of the mortgage to get permission from the lender. When your interest rate comes up for renewal, it is important to check that it is still competitive.
Tax implications include:
Interest payments are tax-deductible if the property is your primary residence and the loan is used for acquisition of the house.
There is no capital gains tax in the Netherlands but increases in the value may impact your mortgage relief if and when you use the profits to buy another house in the Netherlands.
Tax is levied on the deemed rental value of the house (WOZ) determined by the local authority. Expenses in financing the purchase of a house are tax-deductible. (Read more detailed information in Expatica's article Tax advantages for expat house buyers).
Everyone is entitled to a general tax credit (EUR 2,001 in 2013) and may be additionally entitled to other credits. The employed person's tax credit is age and income-related (maximum EUR 1,723 in 2013); the single parent's tax credit (EUR 947 plus a maximum EUR 1,319 under additional conditions). The general tax credit comprises an income and social security element (to which you are only entitled if you have compulsory Dutch social security coverage). Your employer will take these into account when deducting wage withholding tax but not any other personal circumstances. You claim other allowances and potential refunds when you file your tax return or request a provisional refund.PartnersWhere possible, partners are taxed individually but, when only one partner works, the other partner is generally entitled to a refund of general tax credit and deductible expenditure can be apportioned to take advantage of tax credits. Under certain conditions, unmarried couples may qualify as tax partners also, for example if they have a child or own a home together. Details are listed on www.belastingdienst.nl.30 percent rulingThis is a tax incentive for employees, recruited from abroad who bring specific skills to the Netherlands. It acknowledges the additional expenses incurred by expats (extraterritorial costs) by allowing the employer to grant a tax-free lump sum to cover these costs up to a maximum of 30 percent of the sum of wages and allowances. Applications (completed by both employer and employee) should be made to the Belastingdienst Limburg Kantoor Buitenland in Heerlen. The conditions for qualifying for the 30 percent ruling were changed as of 2012 to be more relevant to the intended focus group.Mortgages and tax implicationsWhen arranging a mortgage it is important to look at the whole picture: interest, cost of life insurance, savings plan and investment accounts. If you are intending to sub-let, you may need to pay off a substantial part (say 30 percent) of the mortgage to get permission from the lender. When your interest rate comes up for renewal, it is important to check that it is still competitive.Tax implications include:Interest payments are tax-deductible if the property is your primary residence and the loan is used for acquisition of the house.There is no capital gains tax in the Netherlands but increases in the value may impact your mortgage relief if and when you use the profits to buy another house in the Netherlands.Tax is levied on the deemed rental value of the house (WOZ) determined by the local authority. Expenses in financing the purchase of a house are tax-deductible. (Read more detailed information in Expatica's article Tax advantages for expat house buyers).
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