This article was published in Tijdschrift Vastgoed Fiscaal en Civiel, December 2020, no. 6.
Find the article here (in Dutch).
On the state opening of parliament (Prinsjesdag), the Dutch cabinet presented the 2021 Tax Plan. Part of this plan is the bill on the Differentiation of Transfer Tax Act (Wet differentiatie overdrachtsbelasting), which aims to improve the position of starters in the housing market towards investors. From 1 January 2021, the bill introduces a one-off exemption from transfer tax for starters and a differentiated rate for other purchasers (2% for purchasers of dwellings (not being starters) who will use the dwelling as their principal residence and 8% for investors and purchasers of non-dwellings). The question raised by this bill is what the feasibility thereof will be for the notarial practice.
In this article David Wumkes and Maureen van der Wal discuss this new bill and its feasibility for the notarial practice. Firstly, the notarial preliminary investigation in relation to the correct transfer tax rate is discussed. Subsequently, attention is paid to the duty of the civil-law notary to carefully inform buyers about the potential risk of an additional tax assessment. Finally, the position of investors is discussed. Investors can anticipate the increased 8% rate by arranging the transfer of the immovable property before 1 January 2021. If the financing prevents a timely transfer, a so-called ''Groninger deed'' can be used. In that case the immovable property (under the resolutive condition of non-payment of the purchase price on a certain date) will be transferred before 1 January 2021 whereby the purchase price remains due.