Are certain assets exempted from taxation in Box 3?
Article ID: 258 | Last Updated: Wed, Oct 24, 2012 at 10:50 AM
I‘m wondering if there is any place savings could be placed that would not be taxable by box 3. Gold for example? Art? Thanks
In box 3 your savings and investments are taxed. These include most of your possessions, like bank accounts, shares, cash money (with an exemption up to € 512 per fiscal partner - 2012) and valuables. Also immovable property, with an exemption for the property which is used as your main residence.
Other exemptions are for example so called green investments (up to € 56,420 per fiscal partner) and movable property which are used for personal purposes. Movable property is for example art, a car, furniture etc. Be aware that if these assets are not bought for personal use but as an investment, that the they will become taxable in box 3. The dividing line can be difficult to determine. This depends on the amount of assets you have bought and the specific qualities of the assets, for example a collection of antique cars or old paintings. A couple of paintings or pieces of art is not a problem. But it is up to the tax authorities to proof that a collection is considered to be an investment.
Other exemptions include a funeral insurance, woods, capital insurance which only pays out in case of disability, illness or accident and some other less common assets.
Besides the exemptions a tax free threshold is applicable for each fiscal partner of € 21,139 (2012).