Transfer Tax
Transfer and taxation is a difficult matter for many individuals, while there are so many opportunities. It goes without saying that you do not file an incorrect tax return, apply prohibited tax constructions or keep sloppy administration. When you delve into tax matters, or receive expert tax advice on tax regulations and laws, there are important benefits to be gained and you are protected against sanctions, fines, legal proceedings and the like.
Private individuals sometimes need specialist knowledge, for example for calculating taxes, clarity in the tax consequences of gift or transfer, inheritance or divorce, making real estate financially transparent, and the like. AGA Fiscalisten has the expertise and experience to fully clarify complex financial issues. Our reliable expert tax specialists, who all have years of experience, see every opportunity. All our tax specialists have years of experience and the mr. title.
If you have received or purchased a property, transfer tax usually has to be paid. Think of an immovable property, for example; a home, a piece of land or a business premises, etc.
When is transfer tax paid?
If you have received or purchased a property, transfer tax usually has to be paid. Think of an immovable property, for example; a home, a piece of land or a business premises, etc.
If you buy a piece of land or a property in the Netherlands, you must pay transfer tax. You pay transfer tax on the transfer of the following items:
- An immovable property (e.g. a home or business premises or a piece of land):
- Building right (This is the right to build something on another person's property, without the person becoming the owner of what you have built);
- A B.V. or an N.V. (In some cases: Sometimes you also have to pay transfer tax when transferring a legal entity. This is only the case when shares are taken over from a B.V. or N.V. whose assets consist for the most part of real estate. These are also called real estate entities);
- A membership right of a cooperative apartment association. (The membership right of a (cooperative) apartment association is the right to use (part of) a building owned by the association, without you becoming the owner of that (part of the) building).
Exemption from transfer tax
In certain cases, no transfer tax has to be paid:
- A property purchased by a starter. A one-off exemption can then be used for starters up to the age of 35. A starter is a person who has not previously bought their own home. This exemption only applies to homes up to € 440,000. For a property with a price above € 440,000,-, a transfer tax of 2% applies;
- A property that is bought by starters, of which 1 of the 2 partners is a maximum of 35 years old. A registered partnership is then required;
- If a property is acquired because a resale takes place within six months of purchase;
- When by marriage a house is partly acquired as property by one of the partners, while the house was previously owned by the other partner;
- If a property is acquired after a division of community property involves a divorce;
- If a property is obtained from an inheritance; and
- If a property is obtained when a (former) partner is bought out.
Transfer tax rates.
The rates for the transfer tax are divided into two categories. There are two different rates for this.
- A rate of 2% for: (This rate is for the transfer of homes in which the buyer himself will live for a longer period of time and for which there is no exemption from the transfer tax).
- A rate of 10.4% for: (All other real estate. Such as, for example, a business premises, holiday home, or a garage that you purchase later than the home to which it belongs).
On what amount should transfer tax be paid?
It is not only important to see what rate you have to pay, it is also important to see the value on which this tax is levied. This is determined and depends on your situation.
- You become the owner of a property.
Have you become the owner of a property? (House, holiday home, business premises etc). Then you pay transfer tax on the value of the highest sale price you can get if you offer the property for sale on the free market. In addition, the reference date is the moment that you become the owner of the property. Usually that is the day you sign the notarial deed of delivery.
It is assumed by the tax authorities that this price is at least equal to the purchase price plus any charges. You pay the transfer tax on the purchase price plus the charges you paid to the seller when you purchased the property.
- You buy shares of a legal entity whose assets consist largely of real estate.
You pay transfer tax if you acquire an interest of at least 1/3 in the relevant B.V. or N.V. with your purchase of shares. You then pay tax on the value of the highest selling price of all real estate. Of course, this will still be divided according to the percentage of interest you have acquired. You may not deduct from the transfer tax any debts that the B.V. or N.V. has to pay.
- You acquire a leasehold right.
If you get or buy a leasehold right, you pay a fee for the use of the land. This fee is called a canon. How much transfer tax you have to pay depends on 2 things:
- For how long do you get the leasehold right?
- How high is the canon?
It is wise to seek expert tax advice on this subject.
Exemption from transfer tax
In certain cases, no transfer tax has to be paid:
- A property purchased by a starter. A one-off exemption can then be used for starters up to the age of 35. A starter is a person who has not previously bought their own home. This exemption only applies to homes up to € 440,000. For a property with a price above € 440,000,-, a transfer tax of 2% applies;
- A property that is partly acquired as property by one of the partners through registered partnership or marriage, while the property was previously owned by the other partner;
- If a property is acquired after a division of community property involves a divorce;
- If a property is obtained from an inheritance;
- If a property is acquired when a (former) partner is bought out; and
- If a property is acquired by a resale within six months of purchase.
Questions from private individuals about transfer tax
The following questions that we regularly receive from private individuals:
- If I buy a 2nd home, do I have to pay 10.4% transfer tax?
- Do I have to pay transfer tax on leasehold?
- What has changed is the transfer tax on 1 January 2021?
- What reference date is used for age?
- What if two partners buy a house and one partner is over 35 and the other partner is under 35?
Our tax specialists are asked many other tax questions and issues than the above. You can also submit all these questions to us. We provide clarity and solve your tax issue or question.
Why financial advice from AGA Fiscalisten?
AGA Fiscalisten stands for high-quality expert tax advice. All our tax specialists are senior tax specialists, have years of tax experience, and have graduated from the university in tax law and hold the title "mr.".
A (senior) tax specialist specializes in tax law while a tax advisor has only completed tax courses. A tax advisor has much less knowledge than a tax specialist and often makes mistakes with potentially significant financial consequences. It is wise not to settle for a non-qualified tax advisor, but to engage an expert senior tax specialist. This way you avoid problems, fines or procedures and you do not miss out on tax benefits due to advice that is not sufficiently expert.
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All our tax specialists have years of tax experience and the "mr." title. The most recent developments and changes concern taxation and all relevant legislation is studied and discussed by our tax specialists. This gives us the opportunity to clarify all the problems and issues about taxation. We achieve the best possible result for our customers. Tax advice, tax returns, financial advice, legal advice or discussion partner, AGA Fiscalisten will arrange it for you!
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The tax specialists of AGA Fiscalisten can do a lot for you, from an answer or advice to your tax questions to guidance throughout the entire process. If you have any questions or issues and would like high-quality tax advice, please contact one of our expert experienced tax specialists for an intake interview free of charge and without obligation.
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