Posted on 31 July 2023
Maximize Your Savings: Tips to Deduct Your Housing Savings!
Maximize your savings with tips to deduct your housing savings. Learn how to optimize your finances!
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.
You'll benefit from tax deductions and a government guarantee for your first purchase.
To keep your premiums tax-deductible:
You'll benefit from tax deductions and a government guarantee for your first purchase.
To keep your premiums tax-deductible:
- 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.
- Use the funds in the plan for tax-favoured expenditure, such as your personal home
Example: Finance your main residence or maintenance and repair work.
The deductibility limit is €672/year/person, doubled to €1,344/year/person if under 41.
Example: John and Eva are under 41 and have one child, their deduction limit is €4,032.
Find out how to benefit from a government guarantee thanks to home savings by making minimum payments of €290/year for 3 years.
#HousingSavings #TaxReduction #Luxembourg #Real EstateInvestment
#HousingSavings #TaxReduction #Luxembourg #Real EstateInvestment
