Firstly I would like to wish everyone a Happy New Year in good health and prosperity. I hope all enjoyed their time with their family and/or friends during this festive season. With the New Year there are important changes in the Dutch law. Here are a few;
Partner leave will increase from 2 to 5 days (for full time employees)
Childcare benefit will increase to help cover increasing day care costs.
The maximum duration of the 30% ruling has now been decreased from 8 to 5 years. There is a transition period until 2021.
There is a start to a changing Dutch Tax system, an increase in a general tax credit and an employee tax credit resulting in a higher take home pay. Minimum wages will increase as will unemployment benefits.
State pension will increase and those who are receiving pension will benefit from a higher tax credit. Also resulting in a higher take home pay.
Having said this, VAT taxes have increased from 6 to 9 percent which will make the groceries more expensive. Tax on gas will also increase however tax for electricity will decrease.
A mortgage with the NHG (National Mortgage Guarantee) will be increased to €295.000 this was €265.000 this would mean a lower interest percentage. The provision for the NHG will also decrease to 0.9% of the total mortgage sum. This was 1%.
The tax return on the mortgage interest has also decreased to 49%.
If you have any questions we are always willing to help.
Look forward to hearing from you. ecrea