By dividing the joint assets differently, tax partners can obtain an additional advantage with the final tax return for 2021. For the richest taxpayers, this advantage can rise to more than 3,000 euros, according to a report. calculations of asset advisor ABN Amro MeesPierson.
As of this month, the Tax and Customs Administration will send a final assessment to more than 2 million Dutch people with assets of more than 50,000 euros. This often deviates from the provisional assessment, because the new rules for taxation have now been included in box 3. Due to a ruling by the Supreme Court at the end of last year, the tax authorities are no longer allowed to impose a fictitious return on income from savings and investments.
The tax authorities have therefore developed a new calculation method for the so-called capital yield tax, which takes more account of the actual return that people have achieved on their savings and investments. Dutch people in particular with a lot of money in a savings account are therefore entitled to a refund, because they paid too much tax in box 3 under the original scheme. The tax return program for 2021 still took the old rules into account, because the IT systems of the tax authorities were not time were adjusted. The restoration of rights for 2021 will take place via the final assessment.
Through a special tool taxpayers can calculate how much they owe according to the new calculation method on the website of the Tax Authorities. In addition, it pays for some tax partners to reconsider the mutual distribution of assets, calculated ABN Amro MeesPierson. This concerns couples with a capital of at least 200,000 euros, who had 67 percent or less of this in the bank.
Application calculation program
By shifting the asset allocation, the extra benefit can increase from 15 euros for couples with 200,000 euros, of which 65 percent are savings, to 3,051 euros for partners with almost only investments and a capital of more than 5 million euros. According to ABN Amro MeesPierson, the advantage is created by allocating only a small part of the capital to one of the two partners in the calculation program. For couples who saved more than 67 percent of their wealth, a different distribution does not provide any advantage, according to the private bank.
A spokesman for the Ministry of Finance could not say on Monday to what extent this option will cost the treasury extra money. State Secretary Marnix van Rij (Fiscality, CDA) announced in April that the entire operation to compensate savers for overpaid tax in box 3 could cost up to 12 billion euros. The first 60,000 savers have now received compensation for overpaid taxes in the period from 2017 to 2020. The cabinet previously earmarked 2.8 billion euros for this.
From September, savers will also receive compensation for whom the tax return from the years 2017-2020 was not yet definitively determined at the end of last year.
A version of this article also appeared in the newspaper of August 9, 2022