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Tax and dependant spouses
Hello
I will be speaking to an accountant, but in the meantime, I'm here to hopefully get some insight.
We have recently changed from being under the expat tax regime to the standard local one. I've not been employed in Belgium, and have received the dependant spouse treatment in our tax returns.
I received an inheritance (overseas from non-Belgian) which has been in a term deposit (overseas) earning some token interest. The tax rate in Belgium on interest income is higher, so I gather we will be paying more tax here on that interest (witholding tax already paid in origin country).
Main question is whether my receiving interest on this account will mean I am no longer treated as a dependant spouse? Is there an amount of income a spouse can receive before the dependant spouse benefit is lost? Is interest income considered different to employment income for dependant spouse consideration? Bit concerned we may actually wind up worse off.
Thanks!
Worst case scenario, you will have to pay the difference between Belgian tax and the tax already paid. That you be a total of 25% if the interest.
Best case is that the income is considered taxed abroad, and no Belgian tax is due.
Given interest rates at the moment, it's not going to be a significant amount o money.
If it is, then you really want to invest some o it elsewhere.
