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Airbnb rentals tax-free up to €6,000
Anyone renting out accommodation on Airbnb in Belgium can earn up to €6,000 a year tax-free now that the federal government has approved a number of sharing schemes for the fiscal advantage. The regulation, which comes into force on 1 January, also allows those making €6,000 or less a year on the property to avoid paying into the social security system as a business.
Earnings from the property over €6,000 in a calendar year will be taxed and require the owner to register as a business. Some 30 other businesses that make up the sharing economy also fall under the new regulation, including Flavr home-cooked food sharing, Bringr package delivery and Listminut, which offers immediate services like garden work and household help.
“With the tax break we hope to give people the chance to use the sharing economy as a springboard to becoming entrepreneurs,” said federal minister Alexander De Croo (Open VLD). Other side jobs that fall under the new regulation include such activities as childcare, tutoring and tour guides.
In related news, 4,000 new businesses started up in Brussels in 2016, increasing the total number of businesses by 7%. Economy minister Didier Gosuin (Défi) noted an increase in businesses working in the circular economy, such as bike repair shops and recycling firms, as well as new biotech and film production start-ups.