Deductions in 2022? Check your allowances!
Did you not receive any allowances in 2022 because your predicted income was too high? After submitting your income tax return for 2022, check whether you were entitled to this after all. If you have incurred deductible expenses in 2022, your income will be lower, and you may still be eligible for certain allowances (toeslagen).
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Qualifying income for allowances
The qualifying income is the income that is used to calculate the amount of any allowances, such as health care allowance, rent allowance, and child budget. The qualifying income is your income minus the deductible items such as healthcare costs, the deduction for the owner-occupied home, charity donations, and the entrepreneur’s deduction.
Make optimal use of the deductions in 2022!
It is essential to check which deductible expenses you incurred in 2022. In addition to reducing the tax to be paid, it can also affect the allowances you did or did not receive. So pay close attention to paid healthcare costs, donations to a charity, spousal maintenance, and the deductible costs related to your own house. And are you an entrepreneur for income tax purposes? Then there are some extra deductions that you can use. Think of the entrepreneur’s deduction and SME profit exemption (MKB winstvrijstelling).
Until when can you apply for an allowance?
You can still apply for health care allowance, child budget, and rent allowance for 2022 until September 1st, 2023. You can generally no longer apply for an allowance for 2021. But do you have a postponement for the income tax return deadline? In this case, you can apply for the allowance until the date on which the postponement ends, even if you have already submitted the declaration.
Help with the deductibles in 2022?
Speak directly with one of our tax advisors
Could you use some help to optimally enjoy the deductibles in 2022 in the income tax return? We are happy to help! Please, contact us using the details below.