Are you about to sell or buy a home? Then think carefully about the moment of the transfer. If you sell your house and the proceeds do not flow to a new home before the turn of the year, it may be wise to transfer the transfer over the turn of the year. Otherwise, you must state the money that is in your bank account as assets in box 3. If you still use the money for a new house before 1 January, then there is nothing wrong.
If you buy a house with (partly) your own money, it may be smart to have the transfer take place before 1 January, because then you press your assets in box 3. Of course, the seller must agree to this. He may have an opposite interest.
Pour at the last minute
Parents can donate 5,320 euros to their child tax-free this year. An exemption of 2,129 euros applies to other donations. With a donation you can reduce your capital and also save inheritance tax in the future. Gifts to an adult child are particularly interesting, because these savings are no longer added to the parents’ assets.
You can also consider taking advantage of an increased one-off gift tax exemption. For parents of a child between 18 and 40 years old, this is EUR 25,526 this year. If the money is used for an expensive study, a higher one-off exemption of 53,176 euros applies (under certain conditions). You can Click here for the best solutions.
If the money flows into your own home, you can donate 100,000 euros tax-free. Moreover, the donation does not necessarily have to be from parent to child, as long as the recipient is between 18 and 40 years old. You can spread this donation over 2017, 2018 and 2019, as long as the recipient is not older than 39 years in those years.
If your child has already used a one-off increased exemption before 2010 or in 2015 and 2016, you may be able to supplement this exemption with a tax-exempt donation for their own home.
Do you ever donate money to charity? In that case, you may declare the donations as a deductible item, provided they add up to more than 1 percent of your aggregate income, with a minimum of 60 euros. Every euro above this limit is deductible. If you do not reach this threshold, you can consider bundling the donations in a few years.
If you make a donation to a cultural institution that is officially recognized by the Tax Authorities as a Public Benefit Organization (ANBI), you may deduct an additional 25 percent, with a maximum of 1,250 euros. This multiplier would disappear next year, but because the new cabinet has not yet taken the plunge, this arrangement will probably be extended for another year. But this is not quite certain yet.
Make an annuity or bank savings deposit
If you want to make a deductible bank savings premium deposit for your pension, don’t wait too long. The money must be received no later than December 31 if you still want to deduct it in your income tax return 2017. Please note the conditions carefully.
Stock up on stamps
For those who don’t honor the little: stock up on stamps before January 1st. The price of a stamp will increase even further in the coming year. From January you pay 83 cents for a stamp, 5 cents more than now. Because the stamps do not have an amount, but a number, you can use the stamps you buy now next year without having to paste.