Every parent knows: children not only bring joy and cherished moments but also additional expenses. From schoolbooks to new clothing and those spontaneous treats – the costs can add up. To support families, the Dutch government introduced the Dutch child budget (kindgebonden budget). This financial support, which you can receive on top of the child benefit (kinderbijslag), is an income-dependent contribution for children up to 18 years old. This scheme is not only intended for families with a lower income but also provides support to families with an average income. What exactly is the child budget, are you eligible for it, and what does it mean in different family situations like co-parenting?
Many people do not have enough money to buy a house, which is why they often take out a mortgage from a bank. A mortgage is simply a loan, but a special type of loan where the house acts as collateral. The interest you pay on it is deductible in the Netherlands. For mortgages taken out on or after January 1, 2013, repayment is required to obtain this mortgage interest deduction. There are many different types of mortgages. It’s good to understand the various options and their conditions before taking out the loan. It’s wise to familiarize yourself with them before consulting a mortgage advisor. This prepares you for the conversation and allows you to ask the right questions.
We’ve all experienced it: the suspense of waiting for that one notification, the hope of securing a coveted festival ticket, and then the ultimate disappointment when we miss out once again. TicketSwap, a leading platform in the secondary ticket market, has introduced a lottery system that promises to offer a fairer and more democratic process for ticket purchase. But why does it seem that some, despite repeated attempts, never find luck on their side? Why do you never win a ticket on TicketSwap? Why do you always miss out?
Artificial Intelligence (AI) allows for tremendous advancements. At the same time, these developments bring to light interesting ethical issues and dilemmas. These challenges, sometimes feeling a tad uncomfortable, aid us in understanding the potential impact of AI on our daily lives. During my Business Administration studies, I followed the course ‘Artificial Intelligence, Business and Consumers’ with great interest, where we deeply discussed these issues under the guidance of Prof. Dr. Stefano Puntoni. While AI undoubtedly offers wonderful opportunities for businesses and consumers, we must take ethical implications seriously.
An important aspect of many taxation systems is what’s referred to as a ‘progressive rate’. When you look at the tax rates, you’ll see that those countries are using a ‘bracket system’. Different categories, or ‘brackets’, are employed, each having its own tax rate. In short, the more income you earn, the more tax you pay. The progressive rate is designed to distribute tax more equitably, so that those with higher incomes pay a larger portion of their income in taxes than those with lower incomes. But how exactly does this work?
The mortgage interest deduction in the Netherlands is a tax deduction. The paid interest can be deducted from your income, thereby reducing the amount of income tax owed because tax is paid on a lower income. This deduction thus provides a tax advantage for those who own their own home. The interest on a debt incurred for the purchase of a home may be deducted from your income in box 1. In essence, this means that less tax needs to be paid. The higher the debt, and thus the amount of interest paid, the greater the tax advantage.
The Dutch government is working on a plan to make disability insurance (AOV) mandatory for freelancers and entrepreneurs. The intention of this obligatory AOV scheme is to strengthen the social protection for freelancers and entrepreneurs, hence better shielding them from the financial risks associated with disability. In this way, freelancers and entrepreneurs should not face financial hardship if they are unable to work due to illness or injury. This plan alters several things. It is still under development and is likely to be presented to the House of Representatives in 2024, so we must wait a bit longer before the proposal is finalized. Below is an explanation of what we know so far.
Could it be wise to invest in the Iranian currency, also known as the rial? Or might it be better to steer clear of the Iranian rial? Is there a potential for return, or would it be a more prudent decision to completely avoid the rial and look elsewhere for investment opportunities? Iran, a country rich in history and culture, faces challenging economic realities. The country struggles with extremely high inflation. The official figures are noteworthy as they show that inflation has doubled over recent years. Particularly worrying is that inflation in 2022 stood just above 50%. For comparison, the inflation in the Eurozone in 2022 was only 9.2% – a significant difference illustrating the complexity of the Iranian economic situation.