Tax Return Arrangements And Your Options Open Now

The government offers many tax benefits. Discover our 9 practical tips, ranging from pension savings to childcare.

Get started with pension savings

It is estimated that nearly 3 million Belgians have opted for pension savings,  which is perhaps the best known way to benefit from a tax advantage. In 2020, you can choose your own maximum amount from two options:

• If you opt for a maximum amount of 990 euros, you benefit from a tax advantage of 30%. You can thus recover up to 297 euros via your taxes.

• You can also choose a maximum amount of 1,270 euros. You then benefit from a tax reduction of 25%: up to 317.5 euros.

• Do you choose the highest amount? Please report this explicitly to your bank. You can do this for the whole of 2020. If you choose the lower amount, you don't have to report anything. More info on pension savings in 2020.

Long-term savings pay off

You can also save in a tax-efficient way thanks to the long-term savings plan, of which life insurance (branch 21) is notably a part. In the context of long-term savings , the maximum amount depends on your personal situation. The tax ceiling amounts to 2,390 euros in 2020. For the Taxation Return Preparation in Australia this is important now.

The tax reduction amounts to 30% of the amount saved. If you qualify for the ceiling, you can benefit from a tax reduction of 717 euros if you pay taxes. To calculate your personal limit, you can use the Taxplanner on the CBC website or contact CBC Live or your CBC team. 

Donation to charity

Check out our 10 tips for paying less taxes

A donation to a charity also allows you to benefit from a tax reduction of 45% of the donations actually made and for which you benefit from a tax certificate. Thus, if you make a cash donation of 40 euros to an approved institution, your taxes will normally be reduced by 18 euros.