If you live in a home that you own in the Netherlands, special tax rules apply. You still pay tax but you can claim back some tax deductions.
When you buy a home, you pay tax. Whenever you file your tax return, you add part of the value of your home to your income. This is called the 'notional rental value'. You are also allowed to deduct certain costs from your income. These costs include the interest you pay on your mortgage. This means you do not have to pay as much tax. You report all this information in your tax return, usually once a year.
When you buy a home, there are costs that you pay only once, such as fees for taking out a mortgage. You can deduct these costs from your income when you file your tax return. You cannot deduct the costs you pay to buy your home, such as transfer tax and the money you pay your estate agent for helping you to buy a home.
As a homeowner, you pay property tax (OZB) to your municipality. You pay that tax to the municipality where you live because you own a home. Rules on energy labels and insurance also apply. For example, many banks insist that you take out buildings insurance. This insures your home against fire and damage.
Yes. If you and your partner are partners for tax purposes, you can file a joint income tax return. You can then share the tax deductions between you. This can be useful if one of you has more income, as it might mean you and your partner receive more in the way of tax credits. You can opt for this when you file your tax return, and you can change your decision later.
No. The costs of insulation or solar panels are not deductible. There might, however, be other ways you can get money to make your home more sustainable, such as a loan from your municipality or the government. Information on schemes for making your owner-occupied home more sustainable can be found on Rijksoverheid.nl.
If you sell your home, you might have to use the capital gain (surplus value) to buy a new home. The rules on this are known as the ‘rules related to an increased mortgage loan'. If you do not do this, the amount of mortgage interest you can deduct could be reduced. Make sure you pay close attention to the rules when you buy your next home.
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