The tax scene never pauses, and it is often difficult to keep up to date with everything. Therefore, we have briefly summarized the main points of all the changes and relevant issues that can be interesting to end the year in the best possible way fiscally and get 2025 off to a good start. Do not hesitate to contact us if you have any questions, we will be happy to look at your personal situation together to optimize your current situation fiscally.
Important: All information in this article is based on information available on the day of publication. Unfortunately, we cannot yet predict the future, and due to the flexible nature of legislation, certain numbers and rules may be different in the future.
Overview:
Tips for all tax payers
1. Lower your box 3 assets.
Consider selling investments this year to reduce Box 3 taxes. Also consider tax exemptions for green investments. Green investments are still exempt up to €71,251 this year (partners: €142,502), but this amount will drop in 2025.
2. Final chance for the averaging arrangement
You can use averaging one last time if you have strong differences in your box 1 income over 3 consecutive years. In that case you can get a tax refund. To do so, you will submit a request for averaging. The last period over which you can apply for averaging is 2022 through 2024.
3. Give a gift to your children
Consider giving a gift this year so you can take advantage of the gift exemption for children or grandchildren. The gift exemption for children is €6,633. The gift exemption for grandchildren or third parties is €2,658.
4. Bundle your healthcare expenses
Check if you have incurred healthcare expenses this year. You can deduct these costs under certain conditions. There is a threshold that depends on the amount of your income. The higher your income, the higher the threshold. Only healthcare expenses that exceed the threshold are deductible. This makes it fiscally attractive to combine healthcare expenses within one year if possible.
5. Hold off on selling your own home
If you are planning to sell your own home it may be worth your while to wait until next year. If you sell this year then the amount you receive will fall into Box 3 and you will pay taxes on it.
As you can read in this article, there are quite a few of year-end tips this year. Fortunately, you are not alone, we are ready to assist you with all your questions. Together we are happy to look at your personal situation to optimize your tax situation.
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