Home loan savings contract

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The benefits of a home loan savings contract

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A risk-free way to invest funds
Deduct the deposits made on your savings account from your taxable income under ‘special expenditure’ according to your deductible amounts.
Thanks to your home savings account, you will be entitled to a housing loan at a preferential, fixed rate.

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Annual payments into the home savings account are deductible from taxable income at the following rates :

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Up to the age of 40 inclusive:

Situation	Maximum deductible amount per year
Single, without children	1344 EUR
Single, with 1 child	2688 EUR
Couple, without children	2688 EUR
Couple, with 1 child	4032 EUR
Couple, with 2 Children	5376 EUR
Couple, with 3 Children	6720 EUR
Additional children	1344 EUR per additional child

After the age of 40:

Situation	Maximum deductible amount per year
Single, without children	672 EUR
Single, with 1 child	1344 EUR
Couple, without children	1344 EUR
Couple, with 1 child	2016 EUR
Couple, with 2 Children	2688 EUR
Couple, with 3 Children	3360 EUR
Additional children	672 EUR per additional child

N.B. the upper limits apply to the total of all deductible insurance bonuses. Age is the age of the adult contract holder on 1st January of the year in question.

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The table below gives an indication of the maximum annual total tax impact according to the situation and age of the youngest adult contract holder and the marginal tax rate.

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Up to the age of 40 inclusive:

Situation	Maximum deductible amount per year
	22%	32%	39%
Single, without children	+/- 315 EUR	+/- 450 EUR	+/- 560 EUR
Single, with 1 child	+/- 550 EUR	+/- 1.120 EUR	+/- 1.125 EUR
Couple, without children	+/- 635 EUR	+/- 900 EUR	+/- 1.125 EUR
Couple, with 1 child	+/- 935 EUR	+/- 1.335 EUR	+/- 1.690 EUR
Couple, with 2 children	+/- 1.225 EUR	+/- 1.700 EUR	+/- 2.240 EUR
Couple, with 3 children	+/- 1.510 EUR	+/- 2.180 EUR	+/- 2.790 EUR

After the age of 40:

Situation	Maximum deductible amount per year
	22%	32%	39%
Single, without children	+/- 165 EUR	+/- 235 EUR	+/- 290 EUR
Single, with 1 child	+/- 300 EUR	+/- 560 EUR	+/- 580 EUR
Couple, with 1 child	+/- 315 EUR	+/- 460 EUR	+/- 560 EUR
Couple avec 1 enfant	+/- 480 EUR	+/- 695 EUR	+/- 850 EUR
Couple, with 2 Children	+/- 635 EUR	+/- 900 EUR	+/- 1.125 EUR
Couple, with 3 Children	+/- 795 EUR	+/- 1.125 EUR	+/- 1.415 EUR

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Examples on the basis of the INCOME TAX BRACKETS applicable as from the 2017 tax year:

Marginal tax rate 22%

Single person with annual income of +/- 30,000 EUR
Married couple with annual income of +/- 60,000 EUR

Marginal tax rate 32%

Single person with annual income of +/- 39,000 EUR
Married couple with annual income of +/- 78,000 EUR

Marginal tax rate 39%

Single person with annual income of +/- 48,000 EUR
Married couple with annual income of +/- 96,000 EUR

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Allocation of savings deducted for tax purposes

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At the end of the contract, the savings must be allocated to a real estate investment on the national territory or abroad as defined below:

The construction or purchase of an apartment or house
The conversion or renovation of an apartment or house
The purchase of a building plot for construction of a property
The repayment of the loans taken out for the investments mentioned above

The house or apartment must be inhabited by the saver and must be their main place of residence. Holiday homes, second homes and rental properties are not permitted in this context.

If you no longer wish to build or renovate, you can freely dispose of your housing savings capital, but future tax deductions on future housing savings contracts will no longer be possible. If you also wish to dispose of your savings before 10 years have passed, a tax recalculation will be added.