Good news: Proposal for adjustment of the wealth tax Box 3 per 2022 has been cancelled!

19-10-2020 — 

During Prinsjesdag 2019, the cabinet came up with a proposal to change the box 3 wealth tax in 2022. With this, the government wanted to meet the social criticism of the current system of capital gains tax. Box 3 concerns savings and invested capital, but also the value of real estate (outside your own home) such as a holiday home or an investment property.

However, the proposal for the adjustment of the wealth tax has been cancelled! According to State Secretary Vijlbrief, too great a difference is made between money that people pay on their investment returns compared to what they pay on their interest on savings. According to the State Secretary, this distinction would not only be unfair, but also not legally feasible. The only real solution according to Vijlbrief is to only tax the real return. The problem here is that it is often very difficult for the Tax Administration to find out the exact returns of investments.

Vijlbrief is looking for an alternative that is 'very easy on small savers and investors.' He is seriously considering significantly increasing the amount on which savers and investors do not pay tax.

The state secretary says he will come up with an interim solution later this year. He not only wants to spare savers in this respect, as in the proposals of his predecessor, but he also wants to spare small investors. This means that the adjustment to Box 3, which would have particularly unfavorable consequences for many private real estate investors, has been canceled for the time being.

On the other hand, from 2021, the transfer tax for investment properties will be increased from 2% to 8%. This is of course not a problem if you already own 1 or more investment properties. But it does reduce the expected return if you are still planning to buy. Do you have plans to purchase an investment property? Then try to do that in 2020.