An individual's own home was financed with an interest-only mortgage that already existed on 31 December 2012. From 1 January 2013, the so-called repayment requirement was introduced for new loans as a condition for interest deduction, but a transitional rule says it does not apply to pre-existing loans. Several years later, the individual still processed his existing mortgage as a debt in Box 3 because it was more favourable to him. Is this possible?<\/p>\n
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The court recently ruled on this case. The court found that the loan was taken out in connection with the acquisition of the owner-occupied home before the year 2013. As a result, under the transitional rule, the loan must be treated as an owner-occupied home debt in box 1, even though treatment as a debt in box 3 would be more favourable. The tax legislator's wide discretion has not been exceeded with its choice to limit the prescribed application of the owner-occupied home debt regime in force on 31 December 2012 to owner-occupied home debts existing on that date.<\/p>\n
Note:<\/strong> The transitional law for owner-occupied housing loans existing on 31 December 2012 is therefore mandatory.<\/p>","protected":false},"excerpt":{"rendered":" Can you incorporate a repayment-free mortgage for your home existing before 1 January 2013 into Box 3 if it is more favourable?<\/p>","protected":false},"author":2,"featured_media":711,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-710","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-actueel"],"yoast_head":"\n