• Tax Office checks on the Additional Loan Ruling
• Licence Holders Register 

This year the Tax Office will focus on home owners and tax deductible mortgage interest
Special attention will be paid to the so called Bijleenregeling (Additional Loan Ruling). Every year the Tax Office selects a specific focus for the assessment of annual income tax returns. In 2005 this was additional income. In the 2006 tax returns, attention will be paid to the deduction of mortgage interest.
In particular this involves the ‘Additional Loan Ruling’. This means that anyone buying a new property must use the money generated by the sale of their old property. For example: someone has a 100.000 euro equity after the sale of their house. The new house costs 400.000 euros. The home owner may then only deduct the interest over a mortgage of 300.000 euros. This equates to the purchase price minus the 100.000 euro equity.
To assist in completing the tax return, the Tax Office has developed a calculation program for this ‘Additional Loan Ruling’. It can be found on the Tax Office website www.belastingdienst.nl . The tax return form can also be found and downloaded on this website.
source: Algemeen Dagblad, January 5th 2007

Licence holders register
Before you decide on your mortgage advisor, the register of the Dutch Authority for the Financial Markets www.afm.nl/registers allows you to check the products for which your preferred financial service provider is licensed.

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