Our tips for a successful tax return!
In February you received the famous letter from the Tax Administration asking you to submit your tax return for the previous year. From now on, the deadline for submitting your return is 31 December of the following year. In order to take better advantage of the possibilities offered by the Luxembourg government to reduce your tax burden, we have grouped together for you the products that are deductible from the taxable amount. We have also provided you with a tool to help you manage your tax return more effectively, and above all to save time and money!
* Savers who, when taking out the contract, have not yet reached the age of 25, will benefit on a one-off basis for the first home savings scheme contract on allocation and subject to a contract duration of at least 7 years from a young person’s bonus amounting to 0,6% of the amount of home savings agreed when taking out the contract. The right to the young person’s bonus is lost in the event of transfer of the contract according to §14 (cf. § 3, paragraph 4 of the home savings General Terms and Conditions).
The applicable deductions in the case of a home savings scheme contract vary according to the age of the taxable persons. If at least one of the two people in the couple is aged between 18 and 40 on 1 January of the tax year, it is possible to deduct EUR 1.344 per person belonging to the household. Otherwise, the ceiling amounts to EUR 672 per person belonging to the household.
What are interest expenses?
The amount deductible from the tax return varies depending on whether the building is already occupied by the owner or whether it is not yet occupied (interest fully deductible).
As soon as the taxpayer moves into their property, the deduction of property interest becomes capped and this is then determined in relation to the date of occupancy of the building.
Whether you have taken out a personal loan for the purchase of your new car, the acquisition of new furniture for your home or simply the financing of a trip, your interests are deductible under certain conditions.
When linked to a personal loan, private insurance contributions, premiums and debit interests which are considered as special expenses, are tax deductible.
With the personal loan, you can borrow a fixed amount over a shorter or longer period (12 to 60 months) at the best available rate!
- Between € 5,000 and € 100,000
- Constant monthly payments, thanks to a fixed rate
- 12 to 60 months
- Online loan application via S-Net/S-Net Mobile
Enjoy an advantageous rate:
- For the purchase of an electronic car
- For Zebra Premium account holders
- For clients under 30
Ensuring a better retirement is the reason why you should definitely consider a pension savings plan. This can be taken out at any time, provided that it has a duration of at least 10 years and you are under 65 years of age.
This savings plan consists in regularly investing in the lux | pension SICAV for a certain period of time and reaping the benefits, once the contract expires.
- Make your S-Pension grow thanks to regular or occasional deposits in one of the subfunds of the lux|pension SICAV;
- Save and benefit from your private pension scheme starting at age 60;
- Choose between a single redemption of funds, a life annuity or a mix of both;
- Benefit from a maximum annual tax deduction of EUR 3.200 regardless of your age!
Assurance accidents
In the case of a loan taken out for the purchase of a new car, or in the case of your Lease Plus leasing contract, you can deduct your insurance contributions by taking out a motor vehicle third-party liability contract*.
* premiums for the following risks are not deductible: damage, theft, fire, glass breakage, CASCO, etc..
For residents and non-residents alike
Accessible to all regardless of the complexity of the situation
Real-time optimisation by algorithms (saving money)
Pre-filling of your process (saving time)
Generation of forms and appendices ready to send
Suggestions to reduce your annual tax burden