In Box 3, your equity is taxed. But what is equity? What is part of equity? The tax authorities themselves call equity "the value of your assets minus your debts. Okay, that is clear. But what are assets and what are debts?
ASSETS
Assets include:
- Your checking and savings accounts;
- Stocks and other types of securities;
- Loaned money and cash;
- A second home, like a vacation home;
- Another home that you do not live in yourself but rent out;
- Capital insurance, like a life insurance;
- Your share in the assets of an Owners Association (if you own an apartment);
- Crypto-currencies, such as Bitcoins, Litecoins and all those thousands of others;
- Other assets that are expressible in money.
Assets are not:
- Your own home;
- Your car;
- An original Picasso;
- Shares in your own company (unless you have less than 5%). These shares belong in Box 2;
- Your business bank account.
DEBTS
Debts are, for example:
- Bank accounts on which you are currently overdrawn;
- A loan from the bank for a car or other expenditures;
- Mortgages on a vacation home;
- Mortgages on a property in which you do not live yourself;
- Student debt;
- Supplements that you have to pay back.
Debts are not:
- The mortgage on the house in which you live yourself;
- Tax debts (except inheritance tax);
- Business debts.
EXEMPTIONS
In 2021 you pay no tax on your equity if it don't exceed € 50,000. Do you have a tax partner? Then this exemption is doubled to € 100,000. After all, it is easier to save up when there are two of you. In contrast to this exemption, debts are only deductible if they exceed € 3,200. This amount is also doubled to € 6,400 if you have a tax partner.