News item | 08-03-2022 | 14:12
The gift exemption for own home (Jubelton) will be reduced to €27,231 as of 1 January 2023. The exemption will be completely abolished as of 1 January 2024, as agreed in the coalition agreement.
People between the ages of 18 and 40 can still receive a tax-free gift for their own home of € 106,671. At the request of the House of Representatives, the cabinet has looked into whether it was possible to abolish or reduce the exemption as of 2023. The conclusion was that abolition was not possible, but a reduction was.
In addition to the owner-occupied home exemption, parents have the option of giving their child a one-off amount of €27,231 tax-free, which the child can spend freely. In 2023, the exemption for the owner-occupied home will be reduced to the same amount. Parents can donate this amount for their own home or for leisure. You can’t do both.
State Secretary for Finance van Rij: “The cabinet had already agreed to abolish the exemption in 2024. The House of Representatives has asked whether something could not be done about this sooner and the cabinet immediately took action. The exemption will therefore be significantly reduced in 2023 and completely abolished in 2024.”
Minister of Housing and Spatial Planning, Hugo de Jonge: “This is an important step that contributes to a fairer playing field among starters and reduces inequality. In addition, more affordable homes must eventually be built quickly. I will take care of that by taking more control and at a faster pace. Together with provinces, municipalities and corporations.”
Reducing the gift tax exemption for owner-occupied home will be included in the Tax Plan 2023 bill and will yield €7 million per year.