How to optimize your personal tax return?

As the tax return period is fast approaching, we have identified a number of points of attention regarding the optimisation of your tax return :

Regarding service cheques, did you know that in Flanders, Brussels and Wallonia, each taxpayer can deduct a maximum of 1,530€ service cheques. This means that if your husband or wife exceeds this maximum amount, it may be interesting to create an account for your partner;

Mortgage loans taken out from 1 January 2020 (Flanders) or 1 January 2017 (Brussels) for your own home no longer give the right to the housing bonus (deduction of interest and capital repayments). To compensate for this, a reduction in registration duties is provided for;

– We would also point out that if you repay your mortgage loan early, you de facto lose the tax deduction for interest and capital repayments;

– To strengthen your statutory pension, you can rely on the supplementary pension, but you can also take the initiative to build up individual pension savings. Between 2020 and 2023, you may pay a maximum of 990 euros and benefit from a 30% tax break (maximum 297 euros);

The “Tax shelter” for starters is one of the easiest ways to reduce tax liability. In order to help small business start-ups, a tax incentive has been developed for citizens. Citizens can get a tax reduction of 30 % or 45 % of the amount invested in the companies. Thus, for an investment of €20,000 in equity in a start-up company, you enjoy a tax reduction of €9,000 (20,000*45%). This measure is often used, for example, when a married couple decides to create a company, the two partners invest in the company and the only one who does not hold a remunerated mandate (condition for Tax shelter) in the company receives a tax reduction of 30% or 45% of the investment.

For donations, the tax relief increases from 45% to 60%. For tax-deductible donations made in 2020, the tax reduction has been temporarily increased from 45 to 60% (law of 15.07.2020, MB of 23.07.2020). Note that the increase will benefit all donations made in 2020, retroactively. However, in principle, the total amount of tax-deductible donations cannot exceed 10% of the total net income, but this ceiling is raised to 20% for 2020 (Law of 15.07.2020, MB of 23.07.2020), with an absolute maximum of € 397,850 in deductible donations. Is there an automatic right to the tax reduction? No, the beneficiary of your donation must be a legally recognised institution.

– If your salary has changed, it may be advisable to inform your social security fund directly so that the social contributions can be adjusted.

– The system of advance payments is different according to the nature of the taxpayer. We distinguish between natural persons, the self-employed and companies. If you make prepayments, you can receive a bonus. A bonus is a tax reduction. If you pay enough in advance, you will get a discount on the tax you have to pay. This bonus applies to all individuals who, after deducting withholding taxes and other deductible expenses, still owe tax on their income. For income as a self-employed person or as a company director, you are not entitled to a rebate. You can even get more to pay on taxes if you do not pay enough in advance!

Please do not hesitate to contact our team at or directly your file manager if you have any further questions.

Tax Consult A&A