Grab the tax benefits when they are there!

Many believe that the tax on income and wealth is completely fixed. They are therefore missing out on the tax benefits that are regularly shown.

The rules for tax, deduction, and subsidies from the state have great political attention and are therefore often changed. This means that almost every year there are different temporary rules that can give you tax benefits. It just requires you to be awake and ready to make a quick decision.

Opportunities for tax benefits

You may remember the tax-free early retirement pension or the favorable tax rules for PV systems. There were also tax-free capital gains on small stock holdings that could only be used for 14 days up to the turn of the year 2005. All good examples are that you can gain significant gains in your finances by paying attention to changes in the tax rules.

It is not because you have to speculate on gaps in the tax rules, they are just questions of timely care. If you are aware, you can get hundreds of thousands extra for your assets or for consumption. The money you make from lowering the tax is part of your overall economy and becomes even more with interest rates.

Tax benefits in 2014

This year, you can utilize the housing job scheme ( artisan deduction/service allowance), and then remember to collect the gain by reshaping your capital pension to an age saving.

Together, the two schemes can give you a gain of approx. DKK 37,000 If you can advantageously convert a capital pension of DKK 1 million into an old-age pension, then the first 27,000 are at home. And if you are married, and can you fully utilize the artisan deduction for tasks that still have to be carried out at home, then you can add approx. ISK 10,000. DKK 37,000 is an amount that can be felt in the economy of most people.

And this is noticeable just this year. If you are aware, you can use these opportunities every year throughout your life. It is the few years that you cannot reduce your tax. And the saved tax is usually again that can be taken home without increasing the risk in your finances.

More benefits going forward

There has been a trend over the past approx. 15 years that there have been more of this kind of opportunity than before. This is because there have been many changes in tax and pension legislation and that transitional arrangements are often made that create these opportunities. Other possibilities have arisen because the state wants to promote a certain behavior, eg that you save energy.

Some may argue that development means some taxpayers get benefits at the expense of others. But the fact is that you can improve your finances by taking advantage of the opportunities. It simply requires that you keep a little in mind in the development of schemes in the tax area.

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