Posted on 31 July 2023
Maximize Your Savings: Tips to Deduct Your Housing Savings!
π°π‘π In Luxembourg, reduce your tax bill with home savings! Invest wisely with plans such as the old-age pension plan or the home savings plan π±πΊ.
Β You'll benefit from tax deductions and a government guarantee for your first purchase. πΌπ
π‘π To keep your premiums tax-deductible:
π‘π To keep your premiums tax-deductible:
Β Do not cancel the policy during the first 10 years after taking out the policy.
Example: Emma takes out the policy in 2015 and cancels in 2021, resulting in rectifying taxation.
Β
Use the funds in the plan for tax-favoured expenditure, such as your personal home π‘π§.
Example: Finance your main residence or maintenance and repair work.
Β
πΆπΌ The deductibility limit is β¬672/year/person, doubled to β¬1,344/year/person if under 41.
Example: John and Eva are under 41 and have one child, their deduction limit is β¬4,032.
Β
Find out how to benefit from a government guarantee thanks to home savings by making minimum payments of β¬290/year for 3 years. πͺπ¦
Β #HousingSavings #TaxReduction #Luxembourg #Real EstateInvestment
Β #HousingSavings #TaxReduction #Luxembourg #Real EstateInvestment
