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What are tax credits?
The Dutch Tax System knows several tax credits. When you are entitled to a specific tax credit, it will reduce the tax you have to pay. On this page, we will shortly discuss the tax credits.
So, are you curious if you are entitled to one of the tax credits? Then read on!
General tax credit
The general tax credit is for all people over 18 years old who have to pay income tax. You are also entitled to this tax credit if you are not working. The general tax credit depends on your income and age. Here, you can find more information about the general levy rebate.
Labour rebate
When you are working, you are entitled to the labour rebate. If you are employed, your employer takes into account the labour rebate when calculating the income tax. The labour rebate you receive depends on your work income and your age. Here, you can find more information regarding the labour rebate.
Income-related combination tax credit
You are entitled to the income-related combination tax credit if a child younger than 12 years is registered at your address. Several requirements have to be fulfilled. Here, you can find more information about the income-related combination tax credit.
Tax credit for green investments
Do you or does your fiscal partner invest in green investments? In that case, you are entitled to the tax credit for green investments. Here, you can find more information regarding the tax credit for green investments.
Elderly tax credit
A rebate for people who have reached the AOW-age is divided into two types:
- Elderly tax credit. You will receive this if you have reached the AOW-age no later than the last day of the year you are doing your tax return.
- A tax credit for single elderly. You will receive this in the following situations:
- You received the AOW-benefit for single elderly for the whole year or part of the year.
- You did not (or did partly) receive the AOW-benefit for single elderly. This could be the case if you were living abroad or if you are against taking out insurance.
- The single elderly rebate amounts to € 443 in 2021.
Young disabled person’s tax credit
The young disabled person’s tax credit is for people who qualify for the Wajong Allowance or for people who get support in finding a new job according to the act Wajong. The young disabled person’s tax credit is only for people who did not reach the AOW-age yet.
In some cases, you are entitled to the Wajong allowance, but you do not receive the allowance. This can be the case if your income is too high or if you received another allowance. Are you entitled to the Wajong allowance? But you did not receive this allowance? You are still entitled to the young disabled person’s tax credit.
The young disabled rebate amounts to € 761 in 2021.
Save-as-you-earn leave credits
You are entitled to the save-as-you-earn leave credit if you take money from your save-as-you-earn bank account for unpaid leave or if you buy off (a part of) your save-as-you-earn account.
The save-as-you-earn leave credit amounts to a maximum of € 223 per year that you saved for the arrangement during 2006-2011. Did you also save after 2011? These years do not count in determining the amount of the save-as-you-earn leave credit. Besides that, the credit can not be higher than the amount you withdraw from your save-as-you-earn bank account.
We are happy to help you!
Do you have questions regarding the tax credits or other tax-related matters? Fill in our contact form or give us a call on +31 (0)20 – 2170120.
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