As of 1 July 2021, the Foundation will no longer have to pay gift or inheritance tax on gifts or legacies made by persons resident in Flanders. This is good news for us! The new Flemish government measure means that we will be able to invest 100% of your donation or bequest in our activities and projects. So you will indeed make a difference for us.
At the same time, the tax regulations for dual legacies will change. From 1 July 2021, the tax advantage will be abolished. Therefore, if you have made provision for a duo bequest in your will, it is important to ask your notary for more information. The Foundation may have to pay so much inheritance tax that it will have nothing left of your bequest and will be forced to refuse your inheritance.
If you reside in Brussels or Wallonia, the rates and tax regulations for dual legacies remain unchanged, even after 1 July 2021.
Gifts made in 2020 up to 60% deductible!
To support the non-profit sector during the corona crisis, the federal government decided to increase the tax credit for donations to recognized institutions from 45 to 60 percent by 2020.
That is good news for everyone who cares about our Foundation! After all, your donation will cost you less!