My child is earning an income. How will it be taxed?
Article ID: 220 | Last Updated: Thu, Dec 10, 2015 at 2:45 PM
Your child will be taxed for his or her own income. So the income will not be included in your tax return. As the income will often be relatively low - most of the times it concerns part time jobs - the tax to be paid will also stay low. This is due to the applicable tax credits and lower rate in the first tax brackets. If the employer has withheld wage tax it may therefore be beneficial to file a tax return.
If the income goes up, the tax to be paid may also go up but, more important, the income may also affect the entitlement to child allowance ("kinderbijslag") or education allowance ("studiefinanciering"). So determine what your child can earn in such situation. This depends on age and living situation.
There are no attachments for this article.
There are no comments for this article. Be the first to post a comment.
Capital gains tax on property sale
Viewed 5420 times since Thu, Apr 12, 2012