New codes on the personal tax return tax year 2012

The personal tax return is revised each year in order to cope with the legal changes which have been implemented during the previous year. Also the tax return for this year (income 2011) looks again a bit different. The new personal tax return contains thirteen new codes, four other codes are calcelled. We give you a brief overview of the novelties.

Doctors

When you (as a certified doctor) received an “Impulseo-premium” from the “Impulsfonds voor de huisartsengeneeskunde” to settle yourself in a priorate area, you should report this under section IV.A.15 en XV.8, under the new codes 1267-91, 2267-61, 1428-27 and 2428-94.

Work bonus

Do you - as an employee - receive a work bonus? Then you have to report this amount in the new section IV.K, next to the new codes 1284-74 and 2284-44. As from tax year 2012 low incomes can benefit from a new tax credit, besides the work bonus. This tax credit is 5,7% of the work bonus effectively granted on the actual made or granted salary payments as from 1 January 2011, with a maximum of 120€ per tax year (indexed amount for tax year 2012).

Are you a director? Then you should report the amount of the received work bonus under the new section XV.15, next to the new codes 1419-36 and 2419-06.

Tax reductions: energy saving investments

Under the section IX.G the different tax reductions for energy saving expenditure should be reported. A difference is made between tax reductions for energy saving investments in “new” houses (occupied less than 5 years when starting the works) and “old” houses (at the start of the works 5 years or more occupied). The tax reductions were rearranged and for some reductions a new code has been implemented. This because amongst others expenditure for a solar boiler as from 1 January 2011 no longer qualifies for an additional tax reduction of 830€ (indexed amount for tax year 2011).

Tax reduction: acquisition of shares

The section IX.M 'Tax reduction for the acquisition of shares in recognised development funds' is as from now divided as follows:

Tax reduction for shares acquired in 2011 (codes 1323-35 and 2323-05), and

Take back of previously received tax reduction following preliminary transfer of shares in 2011 (codes 1376-79 and 2376-49).

This division is made since tax payers which obtained a tax reduction for the acquisition of shares in recognised development funds, and have sold these shares within a five years period, should repay part of it.

Tax reduction: foreign income

In the following sections you should mention, for your foreign income for which you make use of the 'tax reduction for foreign income', the country, the code under which it is reported and the amount of the income. It concerns income which is exempt under the double tax treaty, but which is taken into consideration for the calculation of taxes on your other income, or for which the tax is reduced to 50%:

For researchers: section XIV.B.3 'Personal income of the exploitation of inventions granted to researchers'

For directors: section XV.18 'Remuneration of directors'

For independents/entrepreneurs: section XVI.17 'Profit from industry, trade and agricultural activities'

For liberal professions: section XVII.17 'Profit from liberal professions, offices, positions or other profitable activities'

For cooperating spouses: section XIX.5 'Remuneration of cooperating spouses and legally cohabitant partners'

For your previous professional activity: section XX.9 'Profits from a previous professional activity'

Deleted codes

The code for tax credit “Internet for everyone” (start2surf@home) has been cancelled on the tax return for tax year 2012. The validity of the tax credit is after all expired (only applicable for expenditure up to 31 December 2010).

New descriptions and renumbering

Some existing sections were renamed or renumbered following the introduction of new sections and codes.

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