Are you thinking about buying or building a property? In Belgium, your mortgage loan gives you the right to tax relief under certain conditions. ING gives you a quick estimation of how much this tax relief may be*
Important information before you begin:
- Answer each question based on your own individual situation. This is important because it is an individual tax advantage: if you take on a mortgage loan together with other people, the tax advantage may be different for each person.
- Do you already have a mortgage loan with the right to tax relief and do you want to refinanceor have you already refinanced this loan? Then your refinanced loan will retain the same fiscal advantage that applied to your original loan**.
* Using this simulator, ING will give you general and brief information about the current taxation on your mortgage loan and any rights you have to tax advantages. We are limiting our descriptions to certain commonly occurring scenarios. That is why this simulator can only be considered as an indicative tool and the result cannot be considered as customised tax advice. If you would like customised tax advice, which we strongly recommend, contact a tax adviser.
** You contracted a credit between 1/1/2005 and 1/11/2015 and you wish a fiscal advantage in Wallonia, then the extension of the duration of your credit as of 1/11/2015 will not give you rights on the extension for the same duration of your fiscal advantage. The duration of your credit at the date 1/11/2015 will be used to determine until when your fiscal advantage is valid in Wallonia. For credits closed between 2/11/2015 and 31/12/2015, we will take the duration at the date 1/1//2016.
Unless a serious error is made, ING cannot be held liable for the decisions taken on the basis of this simulator.
You can find more information on the Federal Public Service Finance website.
Will the loan be used to acquire or retain your own home?
A property is considered your own home if you are the complete owner, usufructuary, leaseholder or proprietor of that property and you reside there yourself.
In which region do you pay taxes?
This is the region where you reside or resided on 1 January of the year in which you will file or already filed your tax return. Tax relief is different in each region and may change if you move to a different region during the term of your mortgage loan.
Will the loan be used to acquire or retain your only home?
A property is considered your only home if on 31 December in the year in which you took out your home loan you were not the (co-)owner, usufructuary, leaseholder or proprietor of another home, unless you obtained the second home through legacy in co-ownership, usufruct or bare ownership, and in Wallonia also through donation. When the other home is for sale on 31/12 of the loan year and sold on 31/12 of the year after the loan year, your new home is seen as your only home
When did you take out the loan?
The home bonus for a loan taken out for your own and only home in Flanders between 1/1/2005 and 31/12/2014:
- with a term of at least 10 years
- where the repayment is insured by a mortgage registration that will apply for at least another 10 years
- that was issued by a recognised institution within the EEA (European Economic Area) such as ING
- is intended to be used to purchase a property and potentially carry out renovations, to build a new property or to pay the inheritance or gift taxes on the property.
Your deductible amount
| Base amount (income in 2018) | maximum of 2,280 euros |
| Increase for only home1 | + 760 euros |
| Increase for 3 dependent children or more2 | + 80 euros |
| Tax advantage3 | minimum of 30%, maximum of 50% |
| Calculation of tax relief4 | maximum of 3,120 euros (2,280 + 760 + 80) x the percentage of your tax advantage |
| Example for 1 borrower with an increase for only home, but no increase for children | maximum of 1,520 euros (2,280 + 760) x 50% |
1 The annual increase of your base amount during the first 10 years, if the property for which you took out the loan remains your only home.
2 The annual increase of your base amount during the first 10 years, if you have 3 or more dependent children on 1 January of the year following the year in which you took out the loan.
3 The tax advantage is calculated on the basis of your marginal rate of tax. This is the tax rate applied to the highest income bracket of your personal income tax.
Only the amounts paid by yourself, can be taken into account for a fiscal advantage.
- Add together the capital and interest that you repaid on your mortgage loan during the previous year. You can also include your outstanding balance insurance premium(s), if tax-deductible, but this is not mandatory.
- Compare this amount with the sum of the base amount given, plus any potential increases.
- Take the lowest amount and apply the percentage of your tax advantage.
You have the right to home owner tax benefit if you take up residence in the property by 31 December of the year in which you took out the loan, at the latest, unless you cannot take up residence in the property due to contractual, legal or social restrictions, renovations or reasons pertaining to your profession.
You must move into the property by 31 December of the 2nd year of the loan's term.
If you don't, you will lose your right to the temporary living bonus, except if you are unable to live in your home, for job or social reasons. At the time the barriers (contractual or legal barriers or obstruction due to renovation works) are removed, and you do go and live in the house, you regain your right to the living bonus.
Did you take out a mortgage loan after 1 January 2016? Then this condition does not apply and you will begin receiving home owner tax benefit as soon as you move into your property.
You can find more information on the Federal Public Service Finance website
.The home bonus for a loan taken out for your own and only home in Flanders between 1/1/2015 and 31/12/2016:
- with a term of at least 10 years
- where the repayment is insured by a mortgage registration that will apply for at least another 10 years
- that was issued by a recognised institution within the EEA (European Economic Area) such as ING
- is intended to be used to purchase a property and potentially carry out renovations, to build a new property or to pay the inheritance or gift taxes on the property.
Your deductible amount
| Base amount (income in 2018) | maximum of 1,520 euros |
| Increase for only home1 | + 760 euros |
| Increase for 3 dependent children or more2 | + 80 euros |
| Tax advantage | 40% |
| Calculation of tax relief3 | maximum of 2,360 euros (1,520 + 760 + 80) x 40% |
| Example for 1 borrower with an increase for only home, but no increase for children | maximum of 912 euros (1,520 + 760) x 40% |
1 The annual increase of your base amount during the first 10 years, if the property for which you took out the loan remains your only home.
2 The annual increase of your base amount during the first 10 years, if you have 3 or more dependent children on 1 January of the year following the year in which you took out the loan.
Only the amounts paid by yourself, can be taken into account for a fiscal advantage.
- Add together the capital and interest that you repaid on your home loan during the previous year. You can also include your outstanding balance insurance premium(s), if tax-deductible, but this is not mandatory.
- Compare this amount with the sum of the base amount given, plus any potential increases.
- Take the lowest amount and apply the percentage of your tax advantage.
You have the right to home owner tax benefit if you take up residence in the property by 31 December of the year in which you took out the loan, at the latest, unless you cannot take up residence in the property due to contractual, legal or social restrictions, renovations or reasons pertaining to your profession.
You must move into the property by 31 December of the 2nd year of the loan's term.
If you don't, you will lose your right to the temporary living bonus, except if you are unable to live in your home, for job or social reasons. At the time the barriers (contractual or legal barriers or obstruction due to renovation works) are removed, and you do go and live in the house, you regain your right to the living bonus.
Did you take out a mortgage loan after 1 January 2016? Then this condition does not apply and you will begin receiving home owner tax benefit as soon as you move into your property.
You can find more information on the Federal Public Service Finance website
.Tax relief for long-term savings for a loan taken out for your own but not your only property in Flanders up to and including 31/12/2015:
- with a term of at least 10 years
- where the repayment is insured by a mortgage registration that will apply for at least another 10 years
- that was issued by a recognised institution within the EEA (European Economic Area) such as ING and
- is intended to be used to purchase a property and potentially carry out renovations or to build a new property.
Your deductible amount
| Base amount (income in 2018) | maximum of 2,280 euros |
| Tax advantage | 30% |
| Calculation of tax relief1 | maximum of 2,280 euros x 30% |
| Example for 1 borrower | maximum of 684 euros 2,280 x 30% |
Only the amounts paid by yourself, can be taken into account for a fiscal advantage.
Step 1: first calculate your base amount: add together the capital repayments* you made on your home loan last year. Multiply the result by 76,110 and divide this by the total amount of your loan.
Your premium(s) for your outstanding balance insurance may also entitle you to a tax reduction of 30%, if tax deductible.
Step 2: multiply your net professional income by 0.06. Add 171 euros to the result. The maximum for this amount is 2,280 euros.
Remember:
- If your net professional income is greater than 35,150 euros, you do not need to make this calculation. The maximum amount of 2,280 euros has already been reached.
- The maximum amount of 2,280 euros applies for capital repayments and the premium(s) for your outstanding balance insurance added together.
Step 3: compare the results of steps 1 and 2. Your base amount is the amount of your first calculation with as a maximum the amount of your second calculation.
Step 4: apply the percentage of your tax advantage to this amount.
* Tax relief for long-term savings only applies to the capital repayments and your outstanding balance insurance premium(s). You can potentially receive another reduction for the interest you have paid. Add together the interest payments* you made on your mortgage loan last year. Apply the percentage of your marginal rate of tax (loan taken out before 2015) or 40% (loan taken out in 2015) to this amount. Subtract this sum from your taxable property income.
The home bonus for a loan taken out for your own but not your only property in Flanders from 1/1/2016 onwards:
- with a term of at least 10 years
- where the repayment is insured by a mortgage registration that will apply for at least another 10 years
- that was issued by a recognised institution within the EEA (European Economic Area) such as ING
- is intended to be used to purchase a property and potentially carry out renovations, to build a new property or to pay the inheritance or gift taxes on the property.
Your deductible amount
| Base amount (income in 2018) | maximum of 1,520 euros |
| Tax advantage | 40% |
| Calculation of tax relief1 | maximum of 1.520 euro x 40% |
| Example for 1 borrower with an increase for only home, but no increase for children | maximaal 608 euro (1,520) x 40% |
Only the amounts paid by yourself, can be taken into account for a fiscal advantage.
- Add together the capital and interest that you repaid on your home loan during the previous year. You can also include your outstanding balance insurance premium(s), if tax-deductible, but this is not mandatory.
- Compare this amount with the sum of the base amount given, plus any potential increases.
- Take the lowest amount and apply the percentage of your tax advantage.
You have the right to home owner tax benefit if you take up residence in the property by 31 December of the year in which you took out the loan, at the latest, unless you cannot take up residence in the property due to contractual, legal or social restrictions, renovations or reasons pertaining to your profession.
You must move into the property by 31 December of the 2nd year of the loan's term.
If you don't, you will lose your right to the temporary living bonus, except if you are unable to live in your home, for job or social reasons. At the time the barriers (contractual or legal barriers or obstruction due to renovation works) are removed, and you do go and live in the house, you regain your right to the living bonus.
Did you take out a mortgage loan after 1 January 2016? Then this condition does not apply and you will begin receiving home owner tax benefit as soon as you move into your property.
You can find more information on the Federal Public Service Finance website
.The home bonus for a loan taken out for your own and only home in Brussels between 1/1/2005 and 31/12/2014:
- with a term of at least 10 years
- where the repayment is insured by a mortgage registration that will apply for at least another 10 years
- that was issued by a recognised institution within the EEA (European Economic Area) such as ING
- is intended to be used to purchase a property and potentially carry out renovations, to build a new property or to pay the inheritance or gift taxes on the property.
Your deductible amount
| Base amount (income in 2018) | maximum of 2,400 euros |
| Increase for only home1 | + 800 euros |
| Increase for 3 dependent children or more2 | + 80 euros |
| Tax advantage3 | minimaal 30% en maximaal 50% |
| Calculation of tax relief4 | maximum of 3,280 euros (2,400 + 800 + 80) x the percentage of your tax advantage |
| Example for 1 borrower with an increase for only home, but no increase for children | maximum of 1,600 euros (2,400 + 800) x 50% |
1 The annual increase of your base amount during the first 10 years, if the property for which you took out the loan remains your only home.
2 The annual increase of your base amount during the first 10 years, if you have 3 or more dependent children on 1 January of the year following the year in which you took out the loan.
3 The tax advantage is calculated on the basis of your marginal rate of tax. This is the tax rate applied to the highest income bracket of your personal income tax.
Only the amounts paid by yourself, can be taken into account for a fiscal advantage.
- Add together the capital and interest that you repaid on your home loan during the previous year. You can also include your outstanding balance insurance premium(s), if tax-deductible, but this is not mandatory.
- Compare this amount with the sum of the base amount given, plus any potential increases.
- Take the lowest amount and apply the percentage of your tax advantage.
The home bonus for a loan taken out for your own and only home in Brussels between 1/1/2015 and 31/12/2016:
- with a term of at least 10 years
- where the repayment is insured by a a mortgage registration registration that will apply for at least another 10 years
- that was issued by a recognised institution within the EEA (European Economic Area) such as ING
- is intended to be used to purchase a property and potentially carry out renovations, to build a new property or to pay the inheritance or gift taxes on the property.
Your deductible amount
| Base amount (income in 2018) | maximum of 2,400 euros |
| Increase for only home1 | + 800 euros |
| Increase for 3 dependent children or more2 | + 80 euros |
| Tax advantage | 45% |
| Calculation of tax relief3 | maximum of 3,280 euros (2,400 + 800 + 80) x 45% |
| Example for 1 borrower with an increase for only home, but no increase for children | maximum of 1,600 euros (2,400 + 800) x 45% |
1 The annual increase of your base amount during the first 10 years, if the property for which you took out the loan remains your only property.
2 The annual increase of your base amount during the first 10 years, if you have 3 or more dependent children on 1 January of the year following the year in which you took out the loan.
Only the amounts paid by yourself, can be taken into account for a fiscal advantage.
- Add together the capital and interest that you repaid on your home loan during the previous year. You can also include your outstanding balance insurance premium(s), if tax-deductible, but this is not mandatory.
- Compare this amount with the sum of the base amount given, plus any potential increases.
- Take the lowest amount and apply the percentage of your tax advantage.
Reduction on the registration fees for your own and only home in Brussels from 1/1/2017 onwards:
Since January 1st 2017, the Brussels Capital Region has abolished the home bonus.
For credits concluded after January 1st 2017, you will get a reduction on the registration fees for the purchase of your first home. The first 175.000 EUR of the purchase price are free of registration fee. This represents an economy of 21.875 EUR.
Attention: When the purchase price of the home is above 500.000 EUR, you will not receive any reduction on the registration fees.
The reduction on registration fees is not linked to the mortgage loan. Anyone can benefit from it as soon as they purchase their own and only home.
Tax relief for long-term savings for a loan taken out for your own but not your only property in Brussels up to and including 31/12/2014:
- with a term of at least 10 years
- where the repayment is insured by a mortgage registration that will apply for at least another 10 years
- that was issued by a recognised institution within the EEA (European Economic Area) such as ING
- is intended to be used to purchase a property and potentially carry out renovations or to build a new property.
Your deductible amount
| Base amount (income in 2018) | maximum of 2,400 euros |
| Tax advantage | 30% |
| Calculation of tax relief1 | maximum of 2,400 euros x 30% |
| Example for 1 borrower | maximum of 720 euros 2,400 x 30% |
Only the amounts paid by yourself, can be taken into account for a fiscal advantage.
Step 1: first calculate your base amount: add together the capital repayments* you made on your home loan last year. Multiply the result by 76,780 and divide this by the total amount of your loan.
Your premium(s) for your outstanding balance insurance may also entitle you to a tax reduction of 30%, if tax deductible.
Step 2: multiply your annual net professional income by 0.06. Add 180 euros to the result. If this amount is higher than 2,400 euros, it is sufficient to take 2,400 euros.
Attention:
- If your net professional income is more than 37,000 euros, you do not have to make this calculation. The maximum of 2,400 euros has already been reached.
- The maximum of € 2,400 applies to the capital repayments and the premium(s) for your outstanding balance insurance together.
Step 3: compare the results of steps 1 and 2. Your base amount is the amount of your first calculation with as a maximum the amount of your second calculation.
Step 4: apply the percentage of your tax advantage to this amount.
* Tax relief for long-term savings only applies to the capital repayments and your outstanding balance insurance premium(s). You can potentially receive another reduction for the interest you have paid. Add together the interest payments* you made on your mortgage loan last year. Apply the percentage of your marginal rate of tax. Subtract this sum from your taxable property income.
Tax relief for long-term savings for a loan taken out for your own but not your only property in Brussels between 1/1/2015 and 31/12/2016:
- with a term of at least 10 years
- where the repayment is insured by a mortgage registration that will apply for at least another 10 years
- that was issued by a recognised institution within the EEA (European Economic Area) such as ING and
- is intended to be used to purchase a property and potentially carry out renovations or to build a new property.
Your deductible amount
| Base amount (income in 2018) | maximum of 2,400 euros |
| Tax advantage | 30% |
| Calculation of tax relief1 | maximum of 2,400 euros x 30% |
| Example for 1 borrower | maximum of 720 euros 2,400 x 30% |
Only the amounts paid by yourself, can be taken into account for a fiscal advantage.
Step 1: first calculate your base amount: add together the capital repayments* you made on your home loan last year. Multiply the result by 76,780 and divide this by the total amount of your loan.
Your premium(s) for your outstanding balance insurance may also entitle you to a tax reduction of 30%, if tax deductible.
Step 2: multiply your annual net professional income by 0.06. Add 180 euros to the result. If this amount is higher than 2,400 euros, it is sufficient to take 2,400 euros.
Remember:
- If your net professional income is more than 37,000 euros, you do not have to make this calculation. The maximum of 2,400 euros has already been reached.
- The maximum of € 2,400 applies to the capital repayments and the premium(s) for your outstanding balance insurance together.
Step 3: compare the results of steps 1 and 2. Your base amount is the amount of your first calculation with as a maximum the amount of your second calculation.
Step 4: apply the percentage of your tax advantage to this amount.
* Tax relief for long-term savings only applies to the capital repayments and your outstanding balance insurance premium(s). It does not apply to interest you have already paid.
Tax relief for long-term savings for a loan taken out for your own but not your only property in Brussels as from 01/01/2017:
As from January 1st 2017, there is no more tax relief
The home bonus for a loan taken out for your own and only home in Wallonia between 1/1/2005 and 31/12/2014:
- with a term of at least 10 years
- where the repayment is insured by a mortgage registration that will apply for at least another 10 years
- that was issued by a recognised institution within the EEA (European Economic Area) such as ING
- is intended to be used for the purchase, renovation or construction of a house, or the payment of inheritance or gift taxes for that property.
Your deductible amount
| Base amount (income in 2018) | maximum of 2,290 euros |
| Increase for only home1 | + 760 euros |
| Increase for 3 dependent children or more2 | + 80 euros |
| Tax advantage3 | minimum of 30%, maximum of 50% |
| Calculation of tax relief4 | maximum of 3,130 euros (2,290 + 760 + 80) x the percentage of your tax advantage |
| Example for 1 borrower with an increase for only home, but no increase for children | maximum of 1,525 euros (2,290 + 760) x 50% |
1 The annual increase of your base amount during the first 10 years, if the property for which you took out the loan remains your only property.
2 The annual increase of your base amount during the first 10 years, if you have 3 or more dependent children on 1 January of the year following the year in which you took out the loan.
3 The tax advantage is calculated on the basis of your marginal rate of tax. This is the rate of tax applied to the highest income bracket of your personal income tax.
Only the amounts paid by yourself, can be taken into account for a fiscal advantage.
- Add together the capital and interest that you repaid on your home loan during the previous year. You can also include your outstanding balance insurance premium(s), if tax-deductible, but this is not mandatory.
- Compare this amount with the sum of the base amount given, plus any potential increases.
- Take the lowest amount and apply the percentage of your tax advantage.
The home bonus for a loan taken out for your own and only home in Wallonia between 1/1/2015 and 31/12/2015:
- with a term of at least 10 years
- where the repayment is insured by a mortgage registration that will apply for at least another 10 years
- that was issued by a recognised institution within the EEA (European Economic Area) such as ING
- is intended to be used for the purchase, renovation or construction of a house, or the payment of inheritance or gift taxes for that property.
Your deductible amount
| Base amount (income in 2018) | maximum of 2,290 euros |
| Increase for only home1 | + 760 euros |
| Increase for 3 dependent children or more2 | + 80 euros |
| Tax advantage | 40% |
| Calculation of tax relief3 | maximum of 3,130 euros (2,290 + 760 + 80) x 40% |
| Example for 1 borrower with an increase for only home, but no increase for children | maximum of 1,220 euros (2,290 + 760) x 40% |
1 The annual increase of your base amount during the first 10 years, if the property for which you took out the loan remains your only property.
2 The annual increase of your base amount during the first 10 years, if you have 3 or more dependent children on 1 January of the year following the year in which you took out the loan.
Only the amounts paid by yourself, can be taken into account for a fiscal advantage.
- Add together the capital and interest that you repaid on your mortgage loan during the previous year. You can also include your outstanding balance insurance premium(s), if tax-deductible, but this is not mandatory.
- Compare this amount with the sum of the base amount given, plus any potential increases.
- Take the lowest amount and apply the percentage of your tax advantage.
As of 1 January 2015, your home bonus will not be extended anymore when extending the duration of your loan.
The home cheque for a loan taken out for your own and only home in Wallonia from 1/1/2016 onwards:
- with a term of at least 10 years
- where the repayment is insured by a mortgage registration that will apply for at least another 10 years
- that was issued by a recognised institution within the EEA (European Economic Area) such as ING
- is intended to be used to purchase a property and potentially carry out renovations, to build a new property or to pay the inheritance or gift taxes on the property. You cannot benefit from tax relief for renovations carried out on a property that you have not bought.
Your deductible amount
| Base amount (income in 2018)1 | maximum of 1,520 euros |
| Increase for children2 | + 125 euros |
| Reduction of base amount3 | - 50% |
| Example for 1 borrower with no increase for children | maximum of 1,520 euros |
- First check your net taxable annual income.
- Is it EUR 21,733 or less? Then your maximum basic amount is 1.520 euros.
- Is it between 21,734 and 83,828 euros? Then your maximum basic amount is between 728 and 1,520 euros. *
* For this calculation, take your net taxable income and deduct 21,733 euros from it. Multiply that result by 0.01275. You then deduct this result from 1,520 euros and that is your basic amount.
- You are not entitled to a tax reduction from a net taxable income of 83,829 euros.
- Add together the capital and interest that you repaid on your home loan in the previous year. You can also include your outstanding balance insurance premium(s), if tax-deductible, but this is not mandatory.
- Compare this amount with the maximum base amount for your net taxable annual income. The lowest amount is your base amount.
Remember: from the 11th year up to and including the 20th year of your loan's term, the maximum base amount is reduced by 50% each year.
2 From the 11th year up to and including the 20th year of your loan's term, the maximum base amount is reduced by 50% each year.
3 The yearly increase of the base amount, per dependent child and per couple. If you file your tax return together, you determine how you split this advantage.
Only the amounts paid by yourself, can be taken into account for a fiscal advantage.
- During the first 10 years of your loan: take your base amount, add the increase for children (if applicable).
- From the 11th year up to and including the 20th year of your loan: take your base amount, add any potential increase for children, reduce this amount by 50%.
What do you need to know about the home cheque? And when are you eligible?
- Your mortgage loan must be used to acquire your own and only home. You are therefore borrowing in order to purchase a property and potentially carry out renovations, to build a new property or to pay inheritance or gift taxes if you inherit or receive your own and only home.
- Your mortgage loan may not be used to pay for renovations that are not linked to the purchase of the property.
- You must become the full or partial owner of the property.
- Everyone has the right to 20 home cheques for an own and only home. This does not mean that you have to withdraw your home cheques during the next 20 consecutive years. If the property is temporarily not your own property, for example, because you are residing abroad for a few years, you can suspend the withdrawal of your home cheques until you return.
- The amount of the home cheque is halved if you buy a second property between the 2nd and 10th year of the term of the mortgage loan taken out for the first property.
- You can receive the home cheque tax relief from the first year after you took out the loan.
- You are not entitled to the home check if your individual net taxable annual income is 83,829 euros or more.
- Your home cheque will never amount to more than the total amount of the capital and interest repayments and any potential outstanding balance insurance premiums that you have actually paid in that year.
- If you are required to pay less tax than the tax relief you receive, the difference will still be paid out as a result of the repayable tax credit.
Tax relief for long-term savings for a loan taken out for your own but not your only property in Wallonia up to and including 31/12/2014:
- with a term of at least 10 years
- where the repayment is insured by a mortgage registration that will apply for at least another 10 years
- that was issued by a recognised institution within the EEA (European Economic Area) such as ING and
- is intended to be used to purchase a property and/or carry out renovations, to build a new property or to pay the inheritance or gift taxes on a property.
Your deductible amount
| Base amount (income in 2018) | maximum of 2,290 euros |
| Tax advantage | 30% |
| Calculation of tax relief1 | maximum of 2,290 euros x 30% |
| Example for 1 borrower | maximum of 687 euros 2,290 x 30% |
Only the amounts paid by yourself, can be taken into account for a fiscal advantage.
Step 1: first calculate your base amount: add together the capital repayments* you made on your home loan last year. Multiply the result by 76,360 and divide this by the total amount of your loan.
Your premium(s) for your outstanding balance insurance may also entitle you to a tax reduction of 30%, if tax deductible.
Step 2: multiply your net professional income by 0.06. Add 171.9 euros to the result. The maximum for this amount is 2,290 euros.
Remember:
- If your net professional income is greater than 35,301.67 euros, you do not need to make this calculation. The maximum amount of 2,290 euros has already been reached.
- The maximum amount of 2,290 euros applies for capital repayments and the premium(s) for your outstanding balance insurance added together.
Step 3: compare the results of steps 1 and 2. Your base amount is the amount of your first calculation with as a maximum the amount of your second calculation.
Step 4: apply the percentage of your tax advantage to this amount.
* Tax relief for long-term savings only applies to the capital repayments and your outstanding balance insurance premium(s). You can potentially receive another reduction for the interest you have paid. Add together the interest payments you made on your mortgage loan last year. Apply the percentage of your marginal rate of tax. Subtract this sum from your taxable property income.
Tax relief for long-term savings for a loan taken out for your own but not your only property in Wallonia between 1/1/2015 and 31/12/2015:
- with a term of at least 10 years
- where the repayment is insured by a mortgage registration that will apply for at least another 10 years
- that was issued by a recognised institution within the EEA (European Economic Area) such as ING and
- is intended to be used to purchase a property and/or carry out renovations, to build a new property or to pay the inheritance or gift taxes on a property.
Your deductible amount
| Base amount (income in 2018) | maximum of 2,290 euros |
| Tax advantage | 30% |
| Calculation of tax relief1 | maximum of 2,290 euros x 30% |
| Example for 1 borrower | maximum of 687 euros 2,290 x 30% |
Only the amounts paid by yourself, can be taken into account for a fiscal advantage.
Step 1: first calculate your base amount: add together the capital repayments* you made on your home loan last year. Multiply the result by 76,360 and divide this by the total amount of your loan.
Your premium(s) for your outstanding balance insurance may also entitle you to a tax reduction of 30%, if tax deductible.
Step 2: multiply your net professional income by 0.06. Add 171.9 euros to the result. The maximum for this amount is 2,290 euros.
Remember:
- If your net professional income is greater than 35,301.67 euros, you do not need to make this calculation. The maximum amount of 2,290 euros has already been reached.
- The maximum amount of 2,290 euros applies for capital repayments and the premium(s) for your outstanding balance insurance added together.
Step 3: count of your first calculation with as a maximum the amount of your second calculation.
Step 4: apply the percentage of your tax advantage to this amount.
* Tax relief for long-term savings only applies to the capital repayments and your outstanding balance insurance premium(s). It does not apply to interest you have already paid.
The home owner tax relief for a loan taken out for your own but not your only property in Wallonia from 1/1/2016 onwards:
From 1 January 2016 onwards, there is no tax relief available for loans taken out for an own but not an only property in Wallonia.
Tax relief for long-term savings for a loan taken out for an investment property or a second home after 31/12/2013:
- with a term of at least 10 years
- where the repayment is insured by a mortgage registration that will apply for at least another 10 years
- that was issued by a recognised institution within the EEA (European Economic Area) such as ING and
- is intended to be used to purchase a property and/or carry out renovations, to build a new property or to pay the inheritance or gift taxes on a property.
Your deductible amount
| Base amount (income in 2018) | maximum of 2,310 euros |
| Tax advantage | 30% |
| Calculation of tax relief1 | maximum of 2,310 euros x 30% |
| Example for 1 borrower | maximum of 693 euros 2,310 x 30% |
Only the amounts paid by yourself, can be taken into account for a fiscal advantage.
Step 1: : first calculate your basic amount.
For this you add up the capital repayments * that you made for your home loan last year. Multiply the result by 76,860 and divide this by the total amount of your loan.
The premium(s) for your debt balance insurance can also entitle you to a tax benefit of 30%, on condition that it is tax-deductible.
Step 2: multiply your annual net professional income by 0.06. Add 172.8 euros to the result. If this amount is higher than 2,310 euros, you simply take 2,310 euros.
Attention:
- If your net professional income is more than 35,620 euros, you do not have to make this calculation. The maximum of 2,310 euros has already been reached.
- The maximum of € 2,310 applies to the capital repayments and the premium (s) for your outstanding balance insurance together.
Step 3: compare the results of steps 1 and 2. Your base amount is the amount of your first calculation with as a maximum the amount of your second calculation.
Step 4: apply the percentage of your tax advantage to this amount.
* Tax relief for long-term savings only applies to the capital repayments and your outstanding balance insurance premium(s). You can potentially receive another reduction for the interest you have paid. Add together the interest payments* you made on your mortgage loan last year. Apply the percentage of your your marginal rate of tax. Subtract this sum from your taxable property income.
The home bonus for a loan taken out for your own and only home in Flanders from 1/1/2017 onwards:
- with a term of at least 10 years
- where the repayment is insured by a mortgage registration that will apply for at least another 10 years
- that was issued by a recognised institution within the EEA (European Economic Area) such as ING
- is intended to be used to purchase a property and potentially carry out renovations, to build a new property or to pay the inheritance or gift taxes on the property.
Your deductible amount
| Base amount (income in 2018) | maximum of 1,520 euros |
| Increase for only home1 | + 760 euros |
| Increase for 3 dependent children or more2 | + 80 euros |
| Tax advantage | 40% |
| Calculation of tax relief3 | maximum of 2,360 euros (1,520 + 760 + 80) x 40% |
| Example for 1 borrower with an increase for only home, but no increase for children | maximum of 912 euros (1,520 + 760) x 40% |
1 The annual increase of your base amount during the first 10 years, if the property for which you took out the loan remains your only home.
2 The annual increase of your base amount during the first 10 years, if you have 3 or more dependent children on 1 January of the year following the year in which you took out the loan.
Only the amounts paid by yourself, can be taken into account for a fiscal advantage.
- Add together the capital and interest that you repaid on your home loan during the previous year. You can also include your outstanding balance insurance premium(s), if tax-deductible, but this is not mandatory.
- Compare this amount with the sum of the base amount given, plus any potential increases.
- Take the lowest amount and apply the percentage of your tax advantage.
You have the right to home owner tax benefit if you take up residence in the property by 31 December of the year in which you took out the loan, at the latest, unless you cannot take up residence in the property due to contractual, legal or social restrictions, renovations or reasons pertaining to your profession.
You must move into the property by 31 December of the 2nd year of the loan's term.
If you don't, you will lose your right to the temporary living bonus, except if you are unable to live in your home, for job or social reasons. At the time the barriers (contractual or legal barriers or obstruction due to renovation works) are removed, and you do go and live in the house, you regain your right to the living bonus.
Did you take out a mortgage loan after 1 January 2016? Then this condition does not apply and you will begin receiving home owner tax benefit as soon as you move into your property.
You can find more information on the Federal Public Service Finance website
.