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Found your building project from the start from a solid basis and entrust your estate financing to an expert.

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obligation.

Lucien Elin
Mortgage credit intermediary
CSSF Authorisation number 30/18 

4, rue Thomas Edison
L-1445 Strassen
Phone +352 / 661 444 332
Fax +352 / 46 60 41
eMail lucien.elin@schwaebisch-hall.de

Benefit from your tax rebates

If you have not yet benefited from your tax rebates for the current year, that’s not too late. You can still enjoy all your benefits until the 31st of December of each tax year. Any payment made on a deductible savings product before the 31st of December will enter into account in tax calculation for the current year.

Home savings deduction ...

Tax deductions for savings and loans

Déductions d'impots

Tax deduction of home savings

In Luxembourg, contributions to housing savings are tax deductible (Article 111 L.I.R.).

The ceilings of deductible annual amounts are:

  Single Married
without children 672 EUR 1.344 EUR
whith 1 child 1.344 EUR 2.016 EUR
with 2 children 2.016 EUR 2.688 EUR
with 3 children 2.688 EUR 3.360 EUR
with 4 children 3.360 EUR 4.032 EUR
with 5 children 4.032 EUR 4.704 EUR

 

Conditions for deductibility

Article 111 / 1c:

On the terms outlined below, are also deductible as special expenses:

the contributions paid to authorized home loan and savings institutions to the Grand-Duchy of Luxembourg or in any of the Member States of the European Union under a home loan and savings contract signed in order to fund the construction, acquisition or improvement of a flat or a house used for personal housing needs, including the price of the land as well as the bond redemption incurred for the same purposes.

Property loan deduction for personal use

Interest expense of property loans for personal use can be deducted from the taxable income. The deductible amount is dependent on the number of dependents in the household and the number of years of occupancy of the real estate.

  until fifth year 6th to 10th year after 10 years
without children 1.500 EUR 1.125 EUR 750 EUR
with 1 child 3.000 EUR 2.250 EUR 1.500 EUR
with 2 children 4.500 EUR 3.375 EUR 2.250 EUR
with 3 children 6.000 EUR 4.500 EUR 3.000 EUR

Deduction of premium for outstanding balance insurance

The premium for a decreasing capital life insurance subscribed to ensure the repayment of a loan granted for the acquisition of a real estate can be deducted from taxable income. The deductible amount is dependent on the number of dependent children and the age of the taxpayer subscribing to the insurance policy.

  Until the age of 30 Increase per year between
the age of 31 to 49
After the age of 50
without children 6.000 EUR 480 EUR 15.600 EUR
with 1 child 7.200 EUR 576 EUR 18.720 EUR
with 2 children 8.400 EUR 672 EUR 21.840 EUR
with 3 children 9.600 EUR 768 EUR 24.960 EUR
with 4 children 10.800 EUR 864 EUR 28.080 EUR
with 5 children 12.000 EUR 960 EUR 31.200 EUR

Deduction of special expenses

Example for a maried couple with two children

Deductible amounts in 2013 for savings and insurances, for a married couple having two children, if both parents were born in 1969, are:

  Amount
Mother savings pension 1.750 EUR / year
Father savings pension 1.750 EUR / year
Building savings account 2.688 EUR / year
Deductible insurance products 2.688 EUR / year
Consumer loan 1.344 EUR / year
Total 10.220 EUR / year

 

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Intaris S.À R.L.

Intaris salaires et gestion S.à r.l.

Tél. : +352 / 32 68 46
Fax: +352 / 32 68 48
mail: yscharle@intaris.lu
113, rue de Luxembourg
L-7540 Rollingen-Mersch