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Optimise your tax return
Are you sure that you benefit from all the existing opportunities to reduce your taxes as much as possible? There are many fiscal products on the market.
Play the video : "How can you optimise your income tax?"
How to Optimize Your Taxes with Tax-Deductible Products
Your taxable income includes your salary, pensions, capital income, and more.
To optimize your tax declaration, there are tax-deductible solutions that allow you to:
- Save for your future
- Reduce your taxable income
Example 1: Jeff (Single, 35 years old)
- Annual taxable income: €80,000
- Jeff subscribes to a Housing Savings Plan and Pension Insurance
- He contributes up to the maximum deductible limits
Without tax products: He would pay €22,262 in taxes.
With tax products: He pays €20,364 — a saving of €1,898
Example 2: Jeff (38) and Lisa (33), Married
- Combined annual taxable income: €215,000
- They own property and file a joint tax declaration
- In addition to their tax-deductible products, they can now deduct mortgage interest
Without tax products: They would pay €67,637 in taxes.
With tax products and mortgage interest: They pay €62,245 — a saving of €5,392
Example 3: Jeff (40), Lisa (35), and their daughter Sophie
- Sophie is now part of the household
- Jeff and Lisa open a third Housing Savings Plan in Sophie’s name
Without tax products: They would pay €67,637 in taxes.
With all tax-deductible products and mortgage interest: They pay €61,667 — a saving of €5,970
Want to optimize your taxes too?
Use tax-advantaged products to save more.
Home savings scheme
Benefit from a tax advantages of up to €1334 (from 18 to 40 inclusive) or €672 (41 and over) per member of the household, plus :
ING Pension Plan
ING Plan Pension offers the possibility of taking advantage of the maximum tax deductible limit of €3200/year. These formulas allow you to :
Debtor interest and insurance premiums
Provided you are a Luxembourg tax payer, or the equivalent, you can deduct from your taxable income up to EUR 672 per household member in interest on your loan and insurance premiums.
An extraordinary increase is provided when you subscribe to a balance insurance remaining due (as part of a housing loan).
How to reduce your taxable income?
Are you trying to increase your buying power by reducing your taxes? The Luxembourg tax system allows you to do this via special deductible expenses.
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Be your own architect: see your savings grow!
Yes, sometimes we are our own biggest enemies when it comes to sticking to our personal budgets. For every commitment we make to saving money, there is always a temptation to spend just a little on ourselves. What happens when the silly concept of a personal budget gets in the way of the desire to shop? Let's see how you can respect your budget.
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Tax deductible pension savings plans
Everybody knows they should do something for their pension, but more often than not we seem to think that our pension is still a long way away and that providing for it can wait another day. In this article I will explain you a bit more about pension savings plans.
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How to optimise your tax declaration?
Every year, it is the same old story: we have to fill in our tax declaration. For many of you, this annual exercise is like a chore. It is a pity because a tax declaration, correctly optimised, can save you money by reducing your taxes.
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