Box 3 wealth tax is one of the most expensive taxes but can be prevented with some simple actions.
The tax authorities / government speaks of capital yield tax. Unfortunately, this tax has nothing to do with return.Fiscal advantage with an open fund for common account.
Wealthy people with savings have not been spoiled in recent months. Savings interest rates are steadily declining, inflation is on the rise, and as of January 1, 2017, the flat rate return on the capital gains tax has increased for those with a higher capital base. The effective return on savings is therefore currently considerably negative. The VBI has previously been discussed as an alternative to savings in box 3. Another alternative is to place the assets in an open fund for mutual account. With this, it is possible to save load on power in a relatively simple manner.
A mutual fund is a collaboration between two or more people. The participants jointly participate in the mutual fund by means of a participation certificate. This participation certificate can be obtained, for example, by depositing an amount into a bank account that has been specially opened for the fund. It can be savings, but also investments.
There is a distinction between an open and a closed mutual fund (BFGR). In the case of an open mutual fund (OFGR), the participation certificates in the fund can in principle be freely traded. Participation certificates can be freely traded if the consent of all participants is not required for the disposal of the participation certificates. This is a requirement for a BFGR.
A BFGR is normally taxed in box 3. The tax treatment of an OFGR, on the other hand, is virtually the same as that of a BV or NV. The actual return on the assets is taxed after deduction of corporation tax and then, after payment to private, taxed with 25% IB in box 2.
Here we only discuss the OFGR, because only with this tax benefit can be achieved.
Suppose four participants deposit € 250,000 each in a bank account opened for an OFGR. The interest on this account is 0.25%, or € 2,500 per year. Suppose the costs of the annual figures and the declaration vpb amount to € 1,000, then a profit of € 1,500 remains. First of all, 20% VPB is levied on this return, this is € 300, after which € 1,200 remains. If this amount is paid to the 4 participants, 25% IB will be withheld from each of them, resulting in a net return of € 225 per person.
What if the four had held the savings in box 3 on a comparable savings account. Then each would receive € 625 interest and € 3,061 tax. The tax-free allowance is not taken into account here, assuming that this is kept as a buffer outside the OFGR.
The difference in return is € 2,211 per person in favor of the OFGR.
Pros and cons
The same tax benefits can be obtained by setting up a BV in which the savings are accommodated. An OFGR, however, has a number of advantages over a BV.
• An OFGR is relatively easy to set up and can also be liquidated virtually unencumbered. With a BV, a notarial deed is required for the incorporation and for the repayment of share capital again.
• An OFGR is bound by fewer civil law rules and has no legal personality.
• The assets in an OFGR are not included in the calculation for allowances, the personal contribution for long-term care and the WMO.
There are, of course, also disadvantages.
• An OFGR can not be set up by 1 person. One participant may hold a maximum of 90% of the fund assets. Partners, married in the community of goods, can not be considered as two different participants. More-aged children can be considered as participants again.
• By using an account and / or account, each of the account holders can transfer or withdraw the entire amount. Pay close attention to the ascription of the opened bank accounts. Which persons can take which amounts and who should give permission? A and / and account may be a solution.
• The government can amend the law so that the tax benefit can not be realized in the future while costs have been incurred.
• The participants are responsible for the correct interest rate reporting. The bank may not take into account the fact that the assets are not taxed in box 3.
|Flat rate return|
|€ 25.000-100.000||2,87 %||2,65 %||2,36 %|
|€ 100.000-1.000.000||4,60 %||4,52 %||4,40 %|
|>€ 1.000.000||5,39 %||5,38 %||5,33 %|