Tax time is fast approaching so it's a good time to take stock of what you can deduct! After a first article on projects under constructionToday, we are interested in building society savings.

If you have decided to put money aside each month in a building society contract, you have the possibility of reduce your tax burden by declaring all payments made to your tax return in Luxembourg.

Since 2017, it is the age of the taxpayer that determines the deductible limits for home savings. This means that the ceiling has been doubled for people under 41 years of age, allowing them to deduct €1344 per person in the household. For people over 41, the ceiling is €672 and will also be multiplied by the number of people living in the household.

Example:

For a household of 4 people (2 adults under 41 with 2 children), they will be able to benefit from a deduction of €5376. In terms of tax refunds, this can represent up to 2419€.

With taxx.luYou will automatically determine the deductible limits according to your personal situation. You will also find out how much you can deduct from your tax return. It's child's play!