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You're right it is a tax on the possessions (except your primary home) you have. so if you've bought a second home, it is also taxed, so not unspent , but if
by hondadriver 8y ago
You're right it is a tax on the possessions (except your primary home) you have.
so if you've bought a second home, it is also taxed, so not unspent , but if you put more than 25.000 on a current account with 0% interest rate, you still have to pay tax as if you have made 4% (the system changed, this is to keep it simple for non Dutch readers).
In that case it at least feels like unspent income tax.
Anyway, if you're in the position you need to pay this tax, you usually have nothing to complain about financially..
- walshemj 8y agoMaybe but around 25 k euros would not be an uncommon deposit on a house / flat - so your not exactly taxing the super rich here.
- hondadriver 8y agoTrue, but until recently it was very uncommon to save first to buy a house. This is because you could get a mortgage for up to 125% of the price of the house bought and the interest on this loan could be fully deducted from income tax. And to worsen things, you were not obliged to pay back on a monthly basis, but after 30 years you cannot deduct interest anymore the bank can ask for their money back (in practice it is mostly no problem if you can still pay the interest) Now you can 'only' get a loan upto 100% of the price and need to at least save up for the extra costs (bank, notary, taxes) And you have to pay back a monthly amount to be allowed to deduct the interest paid from income tax. But saving up very large amounts, which is common in many other countries, still is not done by most people...