Prince's Day (Prinsjesdag) is a traditional holiday in the Netherlands. In 2022, the main events will take place at the Theater Royal (Koninklijke Schouwburg) in The Hague on 20 September. The king will read the throne speech and change seats from the golden carriage to the glass one. According to tradition, Prinsjesdag is the day the new working year begins. The budget for the next calendar year is also traditionally announced on this day. The budget has already been agreed, but the intrigue remains until September 20. In real estate, we can expect the following changes:
Cancel jubelton
In the Netherlands, there is a gift tax. In the event that you bought or renovated a house for personal residence and used the amount donated to you, part of the donated funds was exempt from gift tax. The maximum tax-exempt gift is 106 euros. When receiving a gift for the maximum amount, the tax savings amounted to 671 euros. This whole system is called jubelton.
Parliament demanded the abolition of jubelton from 2023, but the government said that it would not have time to do this. As a result, the jubelton system will operate in exactly the same way throughout 2023 as it did in 2022, and from January 1, 2024 it will be completely abolished. To use jubelton in 2023, all donated money must be spent before the start of 2024.
Increasing the tax rate on the transfer of property rights
When concluding a real estate purchase / sale transaction in the Netherlands, the transfer of ownership rights is subject to a separate tax. The current tax rate is 8%. The coalition agreement already provided for an increase in the rate to 9%, but it is expected that the actual rate will be raised to 10,1%.
The Netherlands has a very complex and confusing tax system. To avoid mistakes, contact Nalog.nl specialists.
Publication Date: 06.09.2022
