Housing-saving

In order to benefit from all the fiscal advantages within the frame of a "housing-saving", the amount deposited on the special savings account can only be used for the :

• transformation and/or modernisation of an existing home
• acquisition of a home

The annual maximum savings amount deductible of the taxable income is limited to 672€ per capita in the household.

The deductible annual savings payments during the savings period are :

• payments provided for in the contract
• optionally supplementary payments
• costs related to the establishment of the contract
• interests on savings on the 31st of December of every year

Fiscal advantages are to be reimbursed if the contract is resigned before the expiration of the usual 10-year period and/or if the savings are not directly invested in real estate after withdrawal.

In case of death or permanent disability engendering the withdrawal of the savings deposit or if the termination of the contract occurs after the mandatory 10-year period, the fiscal advantages are not to be reimbursed.

Source : www.logement.lu, Date : 11.04.2011, internal translation