The assets you own can affect your entitlement to benefits in Utrecht. If you have too much savings or investments, this may mean you receive no or reduced benefit.
What is Considered Assets?
For benefits, your assets are determined as of 1 January of the relevant benefit year. This includes, among other things:
- Savings on your bank accounts
- Investments and shares
- Digital currencies such as Bitcoin
- Cash above a normal amount
- The value of a second home
- Amounts owed to you by others
What Does Not Count as Assets?
- Your principal residence (the home in which you live)
- Pension arrangements
- Annuity products
- Student loans (are not deducted)
- A car (up to a certain value limit)
Asset Limits per Benefit (2024)
| Type of Benefit | Single | With Partner |
|---|---|---|
| Healthcare Allowance | € 127.582 | € 161.329 |
| Rent Allowance | € 33.748 | € 67.496 |
| Childcare Allowance | € 127.582 | € 161.329 |
| Child-Related Budget | € 127.582 | € 161.329 |
Importance of the Reference Date
Your assets are determined as of 1 January of the benefit year. If you exceed the limit on 1 January 2024, you have no entitlement to the relevant benefit for the entire year, even if your assets decrease later in the year.
Frequently Asked Questions about Assets and Benefits
Is the overvalue of my house included?
No, the value of the home in which you live does not count as assets for benefits.
What if my assets are just above the limit?
In that case, you have no entitlement to the benefit for the entire year. Consider making large expenditures before 1 January to reduce your assets.
Does an inheritance affect my benefits?
Yes, an inheritance counts as assets from the moment of receipt. This can affect your benefits for the following year.
Additional Information for Utrecht
For legal questions about benefits and assets in Utrecht, you can go to the Juridisch Loket Utrecht at Catharijnesingel 55. In addition, the Rechtbank Midden-Nederland, located at Vrouwe Justitiaplein 1, handles cases regarding benefits and assets.
Practical Tips and Questions
How are assets calculated for benefits?
Your assets are determined based on possessions minus debts as of 1 January. Only specific possessions such as savings and a second home count. Debts such as a mortgage on your own home or student debt are not deducted.
Does an expensive car count as assets?
In general, a car does not count, unless it has an exceptionally high value. If in doubt, contact the Tax Authorities for specific guidelines.
What to do if I am just above the threshold?
Consider making expenditures before 1 January, such as paying off debts or investing in your home. This can reduce your assets and maintain your entitlement to benefits.
Impact of an inheritance in 2023 on 2024?
Yes, if you receive an inheritance in 2023, it counts towards your assets on 1 January 2024. This can affect your benefits for that year.
Does it help to divide assets over accounts?
No, the Tax Authorities add up all your assets, regardless of how they are divided. Transparency is essential to avoid problems.
What if I do not report my assets?
Not reporting or incorrectly reporting assets can lead to recovery of benefits and fines. The Tax Authorities carry out checks and can request data from banks.
Are asset limits often adjusted?
Yes, the limits are reviewed annually, usually as of 1 January, based on inflation and economic developments. Always check the current limits via the Tax Authorities.