Variable or fixed rate real estate loan in Luxembourg and in the border area. Request an online quote.
Building savings accounts are financial investments facilitating the purchase of your first home.
Found your building project from the start from a solid basis and entrust your estate financing to an expert.
Contact us for free and under no
obligation.
Lucien Elin
Mortgage credit intermediary
CSSF Authorisation number 30/18
4, rue Thomas Edison
L-1445 Strassen
Phone +352 / 661 444 332
Fax +352 / 46 60 41
eMail lucien.elin@schwaebisch-hall.de
If you have not yet benefited from your tax rebates for the current year, that’s not too late. You can still enjoy all your benefits until the 31st of December of each tax year. Any payment made on a deductible savings product before the 31st of December will enter into account in tax calculation for the current year.
Tax deductions for savings and loans
In Luxembourg, contributions to housing savings are tax deductible (Article 111 L.I.R.).
The ceilings of deductible annual amounts are:
| Single | Married | |
|---|---|---|
| without children | 672 EUR | 1.344 EUR |
| whith 1 child | 1.344 EUR | 2.016 EUR |
| with 2 children | 2.016 EUR | 2.688 EUR |
| with 3 children | 2.688 EUR | 3.360 EUR |
| with 4 children | 3.360 EUR | 4.032 EUR |
| with 5 children | 4.032 EUR | 4.704 EUR |
Conditions for deductibility
Article 111 / 1c:
On the terms outlined below, are also deductible as special expenses:
the contributions paid to authorized home loan and savings institutions to the Grand-Duchy of Luxembourg or in any of the Member States of the European Union under a home loan and savings contract signed in order to fund the construction, acquisition or improvement of a flat or a house used for personal housing needs, including the price of the land as well as the bond redemption incurred for the same purposes.
Interest expense of property loans for personal use can be deducted from the taxable income. The deductible amount is dependent on the number of dependents in the household and the number of years of occupancy of the real estate.
| until fifth year | 6th to 10th year | after 10 years | |
|---|---|---|---|
| without children | 1.500 EUR | 1.125 EUR | 750 EUR |
| with 1 child | 3.000 EUR | 2.250 EUR | 1.500 EUR |
| with 2 children | 4.500 EUR | 3.375 EUR | 2.250 EUR |
| with 3 children | 6.000 EUR | 4.500 EUR | 3.000 EUR |
The premium for a decreasing capital life insurance subscribed to ensure the repayment of a loan granted for the acquisition of a real estate can be deducted from taxable income. The deductible amount is dependent on the number of dependent children and the age of the taxpayer subscribing to the insurance policy.
| Until the age of 30 | Increase per year between the age of 31 to 49 | After the age of 50 | |
|---|---|---|---|
| without children | 6.000 EUR | 480 EUR | 15.600 EUR |
| with 1 child | 7.200 EUR | 576 EUR | 18.720 EUR |
| with 2 children | 8.400 EUR | 672 EUR | 21.840 EUR |
| with 3 children | 9.600 EUR | 768 EUR | 24.960 EUR |
| with 4 children | 10.800 EUR | 864 EUR | 28.080 EUR |
| with 5 children | 12.000 EUR | 960 EUR | 31.200 EUR |
Example for a maried couple with two children
Deductible amounts in 2013 for savings and insurances, for a married couple having two children, if both parents were born in 1969, are:
| Amount | |
|---|---|
| Mother savings pension | 1.750 EUR / year |
| Father savings pension | 1.750 EUR / year |
| Building savings account | 2.688 EUR / year |
| Deductible insurance products | 2.688 EUR / year |
| Consumer loan | 1.344 EUR / year |
| Total | 10.220 EUR / year |
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Intaris salaires et gestion S.à r.l.
Tél. : +352 / 32 68 46
Fax: +352 / 32 68 48
mail: yscharle@intaris.lu
113, rue de Luxembourg
L-7540 Rollingen-Mersch