Tax on securities accounts. What you need to know.
There is now a new tax on securities accounts. But what exactly is it? And can it be avoided?
Who has to pay?
Any individual with a securities account with a total value of at least €500,000 will now pay a tax of 0.15%. This could lead to special situations, as a person with a securities account worth €499,998 will not pay tax, while someone with an additional €2 on their securities account will.
The securities account will be considered per person and not per couple. All securities accounts in one person's name but with different banks will be added together.
What are the taxable financial instruments?
Which securities are concerned? Many financial products and assets, such as shares, bonds, savings bonds, funds, etc., will be taken into account. Pension savings funds and branch 21 life insurance (guaranteed return) or branch 23 (coupled with investment funds) are exempt.The tax will be withheld on October 1 of each year.
Joint securities account
Do you have a joint securities account with other people, such as your spouse? The tax authorities will then consider that you each have an equal share. Each owner will therefore pay the same amount, but may then request a correction through the declaration if it does not correspond to reality.
How to avoid the tax on securities accounts in future
The tax can be avoided:
- By selling taxable securities and investing in insurance or real estate products
- By modifying the distribution of the securities account so as to fall below the threshold of €500,000.
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