Law - in Belgium

LAW: taxation of your home sweet home

In 2003 in Belgium there is income tax. In 2003 in Belgium most families own there home and most homes have a kadastral income lower than 4.000 euro. In 2003 income tax hits all real estate, except the home sweet home of the taxpayer. This is called "woningaftrek". You don't need to pay income tax, on the presumed income of the real estate which you use. In 2003 the taxpayer can choose one property (if he owns lots of real estate) as his home sweet home. Condition is that you live in that home sweet home.



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