The government has had an agreement since 26 July on a renewed tax system and a series of socio-economic reforms.
What is foreseen in the so-called summer agreement for savers and investors and what will the consequences be for your portfolio? An overview of some important novelties.
Tax on securities accounts
The first major novelty for investors is the tax on securities accounts: from next year 0.15% will be collected on the account where your listed shares, bonds (both listed and unlisted), savings certificates, warrants and funds, as well as the value more than € 500,000 per person.
For joint accounts, for example, married couples, which is more than € 1,000,000. Unlisted shares, life insurance policies and pension savings funds from not falling under the tax.
Stock exchange tax
The stock exchange tax that you pay when you buy or sell securities has also been raised by the government, from 0.27 to 0.35% for shares and from 0.09 to 0.12% for bonds. For funds, it remains unchanged (1.32% for certain transactions). However, the maximum ceiling per transaction remains € 1,600 for shares, € 1,300 for bonds and € 4,000 for funds.
Whoever hits must also anoint, because at the same time the first tranche of € 627 in dividends on shares is exempt from the 30% withholding tax. The exemption is settled through taxes, you will first pay all withholding tax and 30% from Reclaim € 627.
The reduced exemption on savings interest will only have a real impact if interest rates pick up again.
Withholding tax extended
From now on, also for investment funds that invest less than 25% of their assets in bonds, withholding tax is levied on the added value of those bonds. Until now, that tax only applied if a fund put more than a quarter of its assets in debt. This is only about bonds, so pure equity funds are not affected. The measure only applies to new funds.
The 30% withholding tax is also extended to so-called ‘mutual investment funds’, funds that invest in UCIs or collective investment institutions (which are commonly referred to as investment funds). It is not yet entirely clear about who will have to pay the tax (natural persons? Legal persons?) And what it relates to.
With regard to pension saving, you will be able to make a choice from now on: whether you save, as usual, € 940 per year and receive a 30% tax benefit on that, good for a maximum of € 282. Or, and that is new, you save € 1,200 against a 25% discount or a maximum of € 300. You can therefore set aside an additional € 260, with an additional tax benefit of € 18 at most.
Interest on savings books
The last measure that we highlight is the tax exemption from interest on savings books. This drops from € 1,880 to € 940. At present, the impact of this measure will be limited, because you must have more than € 850,000 in savings to be eligible for the tax. If interest rates rise again in the future, many more savers will be confronted with this.